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Spotify
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Latest analysis
Updated Aug 20, 2026
Spotify expands share repurchase authorization by $1.5B to $2.223B, signaling capital confidence.
Spotify's board approved a $1.5 billion increase to its share repurchase program on August 20, 2026, bringing total authorization to $2.223 billion with $723 million remaining under the prior authorization. The decision reflects confidence in the company's capital allocation strategy and market position, though execution remains discretionary and dependent on business conditions and shareholder renewal.
Tone: bullishRevenue
€17.2B
SPOT 20-F · FY 2025 · EUR
Revenue FY2024
€15.7B
Founded
2006
Headquarters
Luxembourg, Grand Duchy of Luxembourg
Profile
SPOT 20-F Item 4.B · Feb 10, 2026Spotify is the world's most popular audio streaming subscription service, operating a two-sided marketplace connecting listeners and creators across music, podcasts, and audiobooks. The company monetizes through Premium subscriptions and advertising, serving 751 million monthly active users and 290 million Premium Subscribers across 184 countries and territories as of December 31, 2025. It operates two reportable segments: Premium and Ad-Supported.
Read filing description ↓ Collapse description ↑
We are the world's most popular audio streaming subscription service with a community of 751 million MAUs and 290 million Premium Subscribers across 184 countries and territories as of December 31, 2025. Spotify has transformed the way people access and enjoy music, podcasts, and audiobooks. Today, millions of people around the world have access to over 100 million music tracks and 7 million podcast titles through Spotify whenever and wherever they want. In select markets, eligible Premium Subscribers receive a specified number of hours of monthly access to a subscriber catalog containing 500,000 audiobooks. Since our founding in 2006, we have transformed the music industry by allowing users to move from a 'transaction-based' experience of buying and owning music to an 'access-based' model, which allows users to stream music on demand. Since 2019, we expanded our podcast offerings and helped advance the growth of the podcast industry by making significant investments in content, giving podcasters scale via our large user base established in music, and enhancing the podcast discovery experience. Since 2022, we further expanded our offerings to help drive audiobook adoption among our users and grow the earnings potential of authors, including by bringing elements of our revolutionary music access model to the audiobooks landscape. We continue to build a two-sided marketplace for users and creators, which leverages our platform relationships, data analytics, and software. We are actively investing in other forms of content to complement the music library available through our platform, including video.
Primary products
- Premium Service
- Ad-Supported Service
- Spotify Ad Exchange (SAX)
- Spotify Audience Network (SPAN)
- Spotify for Creators
- Spotify Partner Program
Business segments
End markets
Geographies
Named competitors
“We are the world's most popular audio streaming subscription service with a community of 751 million MAUs and 290 million Premium Subscribers across 184 countries and territories as of December 31, 2025.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Reported in EUR. Revenue grew from €15,673 million in 2024 to €17,186 million in 2025, with a further prior comparison available at €13,247 million for 2023, reflecting sustained double-digit top-line expansion driven by Premium Subscriber growth of 10% year-over-year and continued MAU growth.
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