Duolingo vs Spotify Business Model (2026)
Duolingo earns most from Subscriptions (84.2%), while Spotify earns most from Premium (89.3%). Computed from Duolingo 10-K FY2025 and Spotify 20-F FY2025.
Last checked 2026-10-18 on the official pages.
Duolingo
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Subscriptions | $873 million | 84.2% | 10-K FY2025 ↗ |
| Other revenue | $164 million | 15.8% | 10-K FY2025 ↗ |
| Total revenue | $1,038 million ($1.0 billion) | — | 10-K FY2025 ↗ |
Spotify
Amounts in millions of EUR. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| 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 ↗ |
Shared business models
Company and model pages
Duolingo: Freemium · Subscription
Spotify: Advertising · Subscription
Frequently asked questions
How does Duolingo make money?
Duolingo makes money mainly from Subscriptions. Its FY2025 total revenue was $1,038 million ($1.0 billion), with Subscriptions the biggest disclosed revenue line at $873 million and 84.2% of total revenue (computed from the 10-K FY2025). Duolingo offers free access supported by advertising alongside paid subscriptions.
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.