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Beta. Revenue comes from cited filings. Unknown values stay pending; shares are computed from the filing.
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How Spotify Makes Money (2026)

Spotify makes money mainly from Premium. Its FY2025 total revenue was €17,186 million (€17.2 billion), with Premium the biggest disclosed revenue line at €15,350 million (€15.4 billion) and 89.3% of total revenue (computed from the 20-F FY2025). Spotify earns Premium revenue by selling subscriptions.

Last checked 2026-10-18 on the official pages.

Revenue breakdown

Amounts in millions of EUR. Shares are computed from the filing.

Revenue by product or service
Revenue lineValue% of totalFiling
Premium€15,350 million (€15.4 billion)89.3%20-F FY2025 ↗
Ad-Supported€1,836 million (€1.8 billion)10.7%20-F FY2025 ↗
Total revenue€17,186 million (€17.2 billion)—20-F FY2025 ↗

The hidden model

Spotify earns Premium revenue by selling subscriptions.

Spotify earns Premium revenue by selling subscriptions. verified

We generate revenue for our Premium segment through the sale of subscriptions to the Subscription Offerings.

Evidence source ↗

Business models

Advertising · Subscription

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Frequently asked questions

How does Spotify make money?

Spotify makes money mainly from Premium. Its FY2025 total revenue was €17,186 million (€17.2 billion), with Premium the biggest disclosed revenue line at €15,350 million (€15.4 billion) and 89.3% of total revenue (computed from the 20-F FY2025). Spotify earns Premium revenue by selling subscriptions.

What is Spotify’s business model?

Spotify’s business model is Subscription and Advertising. Charge a recurring fee for software, content, or a service. Retention, upgrades, and the cost of serving existing customers shape the economics. Spotify earns Premium revenue by selling subscriptions.

What is Spotify’s hidden model?

Spotify earns Premium revenue by selling subscriptions.