Spotify Technology S.A. (SPOT) Revenue History
Annual and quarterly revenue from 2015 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
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 March 2, 2026, Spotify Technology S.A. (SPOT) generated trailing twelve-month (TTM) revenue of $17.14 billion, reflecting solid growth of +5.8% year-over-year. The most recent quarter (Q4 2025) recorded $4.49 billion in revenue, up 5.1% sequentially.
Looking at the longer-term picture, SPOT's 5-year compound annual growth rate (CAGR) stands at +15.9%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $16.51 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 TME (+13.9% YoY), KRKR (+5.5% YoY), and FENG (+9.2% YoY), SPOT has underperformed the peer group in terms of revenue growth. Compare SPOT vs TME →
Peer Comparison
Compare SPOT's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SPOTCurrent | $17.1B | +5.8% | +15.9% | 12.8% | |
| TME | $28.4B | +13.9% | +2.2% | 30.7% | |
| KRKR | $231M | +5.5% | -18.8% | -33.7% | |
| FENG | $704M | +9.2% | -11.9% | -9.2% | |
| NAMI | $406M | - | - | 6.7% | |
| AREN | $126M | +6.7% | +18.7% | 6.2% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $16.51B | +5.3% | $5.28B | 32.0% | $2.11B | 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% |
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Start ComparisonFrequently Asked Questions
Is SPOT's revenue growth accelerating or slowing?
SPOT maintains +5.8% revenue growth, in line with its 5-year CAGR of +15.9%. TTM revenue stands at $17.1B. 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 +15.9% reflects the sustained expansion pattern. Current YoY growth of +5.8% 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.