Music streaming platform Spotify has reported that its monthly active users rose to 761 million at the end of the first quarter, while its paying subscribers reached 293 million.

The company disclosed this in its latest financial update, noting that the figure slightly exceeded its guidance of 759 million monthly active users.

According to Spotify, the growth was driven by increased engagement from existing users, new sign-ups, and reactivated accounts across its platform.

Co-chief executive Alex Norstrom said the company surpassed the 760 million user mark and successfully met its subscriber growth targets for the period.

He added that user engagement remained strong, contributing to the platform’s overall performance in the quarter.

Spotify founder Daniel Ek stepped down as CEO at the beginning of 2026 and now serves as executive chairman, while leadership has been handed to co-CEOs Alex Norstrom and Gustav Soderstrom.

The company also reported revenue of 4.5 billion euros ($5.3 billion), representing an eight per cent increase compared to the same period last year.

Operating income rose significantly during the quarter, reflecting improved profitability and cost management.

Spotify said it expects further growth, projecting 778 million monthly active users and 299 million paying subscribers in the coming months.