TTM
32.3%
YoY change
+1.84pp
Trough year (2015)
11.6%
Peak year (2025)
32.0%
Latest annual
32.0%
Gross Margin history chart for Spotify (SPOT) from 2015 to 2025
Latest: 32.0%
Gross Margin change chart for Spotify (SPOT) from 2015 to 2025
Latest: +1.84pp
Gross Margin history table for Spotify (SPOT) from 2015 to 2025
| 2025 | 32.0% | +1.84pp | ||
| 2024 | 30.1% | +4.50pp | ||
| 2023 | 25.6% | +0.69pp | ||
| 2022 | 25.0% | -1.85pp | ||
| 2021 | 26.8% | +1.23pp | ||
| 2020 | 25.6% | +0.11pp | ||
| 2019 | 25.5% | -0.27pp | ||
| 2018 | 25.7% | +4.97pp | ||
| 2017 | 20.8% | +7.17pp | ||
| 2016 | 13.6% | +1.93pp | ||
| 2015 | 11.6% | — |
- 202532.0%+1.84pp
- 202430.1%+4.50pp
- 202325.6%+0.69pp
- 202225.0%-1.85pp
- 202126.8%+1.23pp
- 202025.6%+0.11pp
- 201925.5%-0.27pp
- 201825.7%+4.97pp
- 201720.8%+7.17pp
- 201613.6%+1.93pp
- 201511.6%—
Gross Margin values are taken from Spotify's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in EUR as filed.
About Gross Margin at Spotify (SPOT)
According to Spotify's latest reported financial statements, the company's latest reported gross margin is 32.3%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Spotify (SPOT) reported gross margin of 31.98% – expanded 1.8 percentage points year-over-year.
Across the available history, gross margin reached its high of 31.98% in 2025 and its low of 11.65% in 2015.
Spotify Gross Margin by Year
Spotify Gross Margin 2025: 32.0%
Spotify posted gross margin of 31.98% in 2025, expanded 1.8 percentage points from 2024. This figure represents the highest annual value in the available history.
Spotify Gross Margin 2024: 30.1%
In 2024, Spotify reported gross margin of 30.14%, expanded 4.5 percentage points from 2023.
Spotify Gross Margin 2023: 25.6%
Spotify gross margin in 2023 was 25.64%, expanded 0.7 percentage points from 2022.
Spotify Gross Margin 2022: 25.0%
2022's gross margin for Spotify came in at 24.95%, contracted 1.8 percentage points from 2021.
Spotify Gross Margin 2021: 26.8%
Spotify gross margin in 2021 was 26.80%.
See more financial history for Spotify (SPOT).
Sector peers by Gross Margin
Communication Services peers of Spotify (SPOT), ranked by their latest gross margin
| 81.9% | |
| 79.7% | |
| 70.1% | |
| 60.4% | |
| 58.9% | |
| 54.3% | |
| 49.0% | |
| 37.2% |
- 81.9%
- 79.7%
- 70.1%
- 60.4%
- 58.9%
- 54.3%
- 49.0%
- 37.2%
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