Spotify Hums Along in Q3, Reaching 306 Million Paid Subscribers: ‘There Is More Runway Ahead’

Spotify hit the mark on all its key targets in the third quarter of 2026, as the streaming-audio giant packed on 6 million subscribers in the period — to reach 306 million — and saw healthier growth in ad revenue.

On the free, ad-supported side, Spotify added a net 11 million monthly active users to stand at 788 million as of the end of September.

For Q3, the company reported overall revenue of €4.97 billion, up 16%, “reflecting relatively consistent premium growth and improved ad-supported performance,” it said in announcing the results.

Gross margin of 33.0% slightly exceeded guidance (32.9%) while operating income of €672 million was better than expected “due to lower-than-forecast marketing and personnel-related costs,” the company said. Free cash flow totaled €735 million in Q3, down from €806 million in the year-earlier period.

“This was a quarter where we did what we said. We’ve built a strong business that keeps compounding, we invest when we see a path for growth, our costs are moderating, and there is more runway ahead,” said Spotify co-CEO Alex Norström in prepared remarks. “Every time we expand what’s on Spotify, we bring in new listeners and give existing ones more reasons to come back, almost every day.”

Spotify this week launched its Creator Memberships program in 34 markets, which lets podcasters set up subscription tiers offering any combination of exclusive audio or video, bonus episodes, fewer ads, early access or access to a show’s archive. The company also expanded the Spotify Partner Program to more than 35 new markets in October, enabling eligible creators in countries including Italy, Spain, Brazil, Mexico, Poland and Colombia to earn revenue based on engagement.

The company also announced that it is taking its audiobooks offering global: That will increase from 22 markets to more than 180 by year-end 2026, providing access to more than 350,000 titles spanning over 120 languages.