Spotify reaches 300 million subscribers in the second quarter, but the outlook for the third quarter remains uncertain
Growth forecasts for the current quarter are dividing investors
Spotify’s second quarterly report – the world’s leading music streaming platform – reveals that monthly active users will rise to 788 million in the third quarter, a figure below analysts’ average estimate of 793.5 million. Operating profit for the third quarter will be €670 million, which is also below expectations.
In the second quarter of 2026, however, there was some good news: the total number of users grew by 12 per cent compared with the previous year, reaching 777 million. Spotify recorded a 9% increase in premium users, who reached a record 300 million, slightly exceeding analysts’ forecasts of 299.2 million.
Revenue for the quarter rose by 14% to €4.78 billion, falling slightly short of expectations. This growth appears to have been driven by an increase in the number of new subscribers globally and by price rises.
Adjusted operating profit came in at €655 million, exceeding the €637 million forecast by analysts. For the Stockholm-based company, the rise in revenue offset the additional costs for content, including music, audiobooks and video podcasts.
These developments cannot fail to catch the attention of investors familiar with Spotify’s traditional business model – growth in subscriber numbers as a strategy to boost revenue – who are taking a wait-and-see approach in the face of the Swedish company’s new policies, namely regular price increases in exchange for enhanced features. Shares in Spotify, which is listed on Wall Street, fell by 6.4 per cent in pre-market trading on 4 August, having closed the previous day at $486.33 (-16 per cent). On 4 August, the share price closed at 478.17.
