Spotify Technology S.A. (SPOT) Revenue History
Annual and quarterly revenue from 2015 to 2025
Compound Annual Growth Rate (CAGR)
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SPOT Revenue Growth
Revenue Breakdown (FY 2024)
SPOT's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
SPOT Revenue Analysis (2015–2025)
As of May 6, 2026, Spotify Technology S.A. (SPOT) generated trailing twelve-month (TTM) revenue of $17.60 billion, reflecting solid growth of +10.0% year-over-year. The most recent quarter (Q1 2026) recorded $4.61 billion in revenue, up 1.7% sequentially.
Looking at the longer-term picture, SPOT's 5-year compound annual growth rate (CAGR) stands at +16.9%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $17.19 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows SPOT's business is primarily driven by Premium (88%), and Ad-Supported (12%). With over half of revenue concentrated in Premium, the company maintains significant focus in this area while developing other growth vectors.
When compared to Communication Services sector peers including SIRI (-0.3% YoY), IHRT (+0.3% YoY), and PTON (-7.0% YoY), SPOT has underperformed the peer group in terms of revenue growth. Compare SPOT vs SIRI →
SPOT Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SPOTCurrent | $17.6B | +10.0% | +16.9% | 12.8% | |
 SIRI | $8.6B | -0.3% | +1.3% | 17.2% | |
 IHRT | $3.9B | +0.3% | +5.6% | -0.5% | |
 PTON | $2.5B | -7.0% | +6.4% | -1.5% | |
 AAPL | $416.2B | +12.8% | +8.7% | 32.0% | |
 AMZN | $716.9B | +14.2% | +13.2% | 11.2% |
SPOT Historical Revenue Data (2015–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $17.19B | +9.7% | $5.50B | 32.0% | $2.20B | 12.8% |
| 2024 | $15.67B | +18.3% | $4.72B | 30.1% | $1.36B | 8.7% |
| 2023 | $13.25B | +13.0% | $3.40B | 25.6% | $-446,000,000 | -3.4% |
| 2022 | $11.73B | +21.3% | $2.93B | 25.0% | $-659,000,000 | -5.6% |
| 2021 | $9.67B | +22.7% | $2.59B | 26.8% | $94.0M | 1.0% |
| 2020 | $7.88B | +16.5% | $2.02B | 25.6% | $-293,000,000 | -3.7% |
| 2019 | $6.76B | +28.6% | $1.72B | 25.5% | $-73,000,000 | -1.1% |
| 2018 | $5.26B | +28.6% | $1.35B | 25.7% | $-43,000,000 | -0.8% |
| 2017 | $4.09B | +38.6% | $849.0M | 20.8% | $-378,000,000 | -9.2% |
| 2016 | $2.95B | +52.2% | $401.0M | 13.6% | $-349,000,000 | -11.8% |
Full SPOT Stock Analysis
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Start ComparisonSPOT — Frequently Asked Questions
Quick answers to the most common questions about buying SPOT stock.
Is SPOT's revenue growth accelerating or slowing?
SPOT maintains +10.0% revenue growth, in line with its 5-year CAGR of +16.9%. TTM revenue stands at $17.6B. Growth rate remains consistent with historical average.
What is SPOT's long-term revenue growth rate?
Spotify Technology S.A.'s 5-year revenue CAGR of +16.9% reflects the sustained expansion pattern. Current YoY growth of +10.0% is near this long-term average.
How is SPOT's revenue distributed by segment?
SPOT reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2015-2025 are available for download. Segment mix reveals concentration and diversification trends.