Spotify’s net profit rose to €225 million in the first quarter of 2025, up 14.2% from €197 million in the same period last year. Revenue jumped 15.2% to €4.19 billion, outpacing total costs, which grew 6.1% to €3.68 billion.
Key Drivers of Growth
Premium subscriptions were the main contributor, generating €3.77 billion – a 16.1% increase. Ad revenue also rose, by 7.7%, to €419 million. The user base expanded 10.2% to 678 million, with 268 million paying customers and 410 million free users.
CEO Daniel Ek said the company’s freemium model gives users flexibility, even in uncertain times. “We’re confident in our long-term vision and direction,” he said.
Looking Ahead
Spotify expects revenue to reach €4.3 billion in the second quarter of 2025. The total user base is projected to grow to 689 million, with 273 million subscribers.