Spotify reported a strong first‑quarter showing, adding 9% to its premium base and reaching 293 million subscribers. Monthly active users climbed to 761 million, a 12% year‑over‑year rise that beat the company’s own forecast of 759 million. The Swedish streamer also launched a fitness‑content tie‑up with Peloton, expanding its video portfolio. The move follows a year of aggressive price adjustments and content diversification aimed at reducing churn.

Revenue rose 8% to €4.5 billion, matching guidance, with premium earnings up 10% while ad‑supported income slipped 5%. Net income surged to €721 million—about $845 million—or €3.45 per share, far exceeding analysts’ consensus estimate of €3.11. Higher margin from premium subscriptions also offset the slowdown in advertising spend tied to broader economic uncertainty. The earnings beat underscores the pricing power gained from recent subscription hikes.

The subscriber growth and profitability lift bolster Spotify’s leverage in negotiations with record labels and advertisers, reinforcing its position as the dominant global audio platform. Investors responded positively, with the stock edging higher after the release. With the Peloton partnership signaling a broader push into video, the company appears set to monetize its expanding user base beyond music. The strategy tests Spotify’s ability to cross‑sell.