Spotify stock gains 1.82 percent as users rise

Spotify stock gained 1.82 percent to USD 510.40 on the NYSE on September 23, 2026. The move followed a quarter in which Premium subscribers reached 300 million and monthly active users climbed to 777 million, according to Spotify.

Revenue reaches EUR 4.8 billion

Spotify reported Q2 2026 revenue of EUR 4.8 billion, up 15 percent year over year on a constant currency basis, according to The Globe and Mail. That combination gives the stock a clear operating benchmark: revenue growth exceeded Premium subscriber growth of 9 percent, pointing to higher monetization per paying user.

The quarter also produced a scale comparison. Spotify added 7 million Premium subscribers and 16 million monthly active users, while the total user base reached 777 million by June 30, 2026.

Q3 guidance sets the next test

Management expects 305 million Premium subscribers and 788 million monthly active users in Q3 2026. The targets require 5 million additional paying users and 11 million additional monthly active users from the Q2 base, making conversion and engagement the key operating measures.

The ad-supported business remains the less mature growth engine. Ad-supported monthly active users reached 494 million in Q2, compared with 300 million Premium subscribers, while ad-supported revenue reached EUR 446 million. The gap leaves Spotify with a large free audience and a measurable opportunity to improve monetization.

Stock remains below yearly high

Spotify stock stood at USD 510.40 on the NYSE on September 23, 2026, with a 1.82 percent daily gain. The price was 31.0 percent below the 52-week high of USD 740, so the market is still valuing the company below its yearly peak despite the Q2 subscriber milestone.