Spotify Technology S.A. (SPOT) Revenue History
Annual and quarterly revenue from 2015 to present
SPOT Revenue Over Time (2015–2025)
SPOT Revenue Growth History
10 of 10 years with positive growth- FY2015 revenue growth
- N/A
- FY2016 revenue growth
- +52.2%
- FY2017 revenue growth
- +38.6%
- FY2018 revenue growth
- +28.6%
- FY2019 revenue growth
- +28.6%
- FY2020 revenue growth
- +16.5%
- FY2021 revenue growth
- +22.7%
- FY2022 revenue growth
- +21.3%
- FY2023 revenue growth
- +13.0%
- FY2024 revenue growth
- +18.3%
- FY2025 revenue growth
- +9.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $4.61B | +10.0% |
| Q4 2025 | $4.53B | +6.8% |
| Q3 2025 | $4.27B | +7.1% |
| Q2 2025 | $4.19B | +10.1% |
| Q1 2025 | $4.19B | +15.2% |
| Q4 2024 | $4.24B | +15.6% |
| Q3 2024 | $3.99B | +18.8% |
| Q2 2024 | $3.81B | +19.8% |
Multi-year avg. share of annual revenue by fiscal quarter
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)
Current Revenue & Growth
As of June 21, 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.
Historical Growth Trajectory
SPOT's 5-year compound annual growth rate (CAGR) stands at +16.9%, indicating consistent double-digit revenue growth. The 3-year CAGR of +13.6% is below the 5-year average, signalling a growth deceleration in recent years. Spotify Technology S.A.'s highest annual revenue of $17.19 billion was recorded in 2025, an all-time high.
Revenue by Segment
SPOT's revenue is primarily driven by Premium (88%), and Ad-Supported (12%). With over half of revenue concentrated in Premium, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Communication Services sector peers — including SIRI (-0.3% YoY), IHRT (+2.1% YoY), and PTON (-3.3% YoY) — SPOT has outperformed the peer group in 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 | +2.1% | +5.6% | 5.0% | |
 PTON | $2.5B | -3.3% | +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% |
| 2015 | $1.94B | - | $226.0M | 11.6% | $-235,000,000 | -12.1% |
Full Stock Analysis
Deep dive into SPOT consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
11+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
SPOT — Frequently Asked Questions
Quick answers to the most common questions about buying SPOT stock.
Is SPOT's revenue growth accelerating or slowing?
SPOT revenue growth is holding steady at +10.0% year-over-year. TTM revenue is $17.6B. The current growth rate closely tracks the 5-year CAGR of +16.9%, signalling consistent execution.
What is SPOT's revenue history from 2015 to 2026?
Spotify Technology S.A. (SPOT) revenue history spans 2015 to 2026. TTM revenue as of 2026 is $17.6B, growing at +10.0% YoY. The 5-year CAGR is +16.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SPOT's long-term revenue growth rate (CAGR)?
Spotify Technology S.A.'s 5-year revenue CAGR of +16.9% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +10.0% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SPOT.
Why does SPOT's quarterly revenue fluctuate?
SPOT quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Spotify Technology S.A.'s revenue data from 2015 to 2026 shows full historical quarterly detail on this page.
How is SPOT's revenue distributed by segment?
SPOT reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SPOT's revenue compare to industry peers?
Spotify Technology S.A. (SPOT) with TTM revenue of $17.6B and +10.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.