Music streaming platform Spotify has announced that its global active users have surpassed 713 million as of the third quarter of 2025.
The Swedish firm said its paying subscribers increased by 12 per cent to reach 281 million, while revenue grew by seven per cent to 4.3 billion euros (about 4.9 billion dollars). This exceeded its earlier target of 4.2 billion euros.
“The business is healthy,” Spotify’s Founder and Chief Executive Officer Daniel Ek said in a statement on Tuesday.
“It all comes back to user fundamentals and that’s where we are: 700 million users who keep coming back, engagement at all-time highs.”
Spotify reported an operating income of 582 million euros, up by 28 per cent, while net income more than doubled to 899 million euros.
The platform also projected that it would reach 745 million active users and 289 million paying subscribers by the end of 2025.
The company also announced that Daniel Ek will step down as CEO on January 1, transitioning into the position of executive chairman. Chief Product and Technology Officer Gustav Soderstrom and Chief Business Officer Alex Norstrom will take over as co-chief executives.
Ek co-founded Spotify with Martin Lorentzon in 2006 has led the company to become one of the most influential music streaming services in the world.
Nigeria’s growing influence on Spotify
In March 2025, Spotify highlighted Nigeria’s strong presence in the global music industry through its Loud and Clear announcement in Lagos.
According to the data shared, Nigerian artistes earned more than N58 billion from Spotify streams in 2024, more than double the figure recorded in 2023 and five times higher than in 2022.
The company added that the number of Nigerian artistes earning at least N10 million in royalties doubled compared to 2023, while the total number of artistes featured on Spotify’s editorial playlists rose by 33 per cent.
Spotify revealed that first-time listeners discovered Nigerian artistes over one billion times and that international listeners spent 1.1 million hours streaming Nigerian songs. Over 250 million playlists featuring Nigerian tracks were created by global users.
Spotify’s Managing Director for Sub-Saharan Africa, Jocelyne Muhutu-Remy, said the earnings reflect the global appeal of Nigerian music and the country’s growing cultural influence.
She said, “We remain committed to empowering Nigerian artists to earn from their art whilst maintaining transparency with artists and stakeholders. The incredible growth of Nigerian music, both locally and globally, is a testament to the talent and creativity within Nigeria, and we are proud to support its continued rise.”
