Spotify released its Q3 2026 financial results on October 22, 2026, posting €5.0 billion in total revenue and reaching 788 million monthly active users globally.
Financial and User Growth
Total revenue reached €5.0 billion in the third quarter, representing a 16% year-over-year increase or 14% on a constant currency basis. Premium subscribers grew 9% year-over-year to 306 million, while total monthly active users rose 11% to 788 million.
Operating income finished at €672 million with a record third-quarter gross margin of 33.0%. Free cash flow reached €735 million during the quarter, bringing trailing twelve-month free cash flow to €3.2 billion.
Platform and Product Updates
Spotify introduced several product updates during the quarter, including the U.S. launch of Taste Profile for Premium Subscribers, giving users an editable view of how the platform understands their preferences. The company also integrated with Muse to allow listeners to control music, playlists, and discover content through an AI agent conversation.
Additionally, Spotify announced the global expansion of audiobooks to over 180 markets by the end of 2026 and launched Creator Memberships in 34 markets to enable eligible creators to generate recurring revenue.
Key facts and where they come from
- Total revenue reached €5.0 billion in Q3 2026, up 16% year-over-year.
Total Revenue of €5.0 billion expanded 16% Y/Y or 14% Y/Y on a constant currency* basis
- Monthly active users grew 11% year-over-year to 788 million.
Total MAUs grew 11% Y/Y to 788 million, up from 777 million last quarter and in-line with our guidance.
- Premium subscribers reached 306 million globally.
Our Premium Subscribers grew 9% Y/Y to 306 million, up from 300 million last quarter and 1 million above our guidance.
- Operating income finished at €672 million for the quarter.
Operating Income finished at €672 million (13.5% margin)