Spotify Boosts Share Repurchase Program
Spotify has expanded its share repurchase program by an additional $1.5 billion, bringing the total authorization to approximately $2.223 billion, according to a press release issued on Thursday (August 20). The company’s Board of Directors approved the increase.
With $723 million remaining under the existing program, Spotify now has nearly double the initial authorization announced in 2021 when it was granted up to $1.0 billion for repurchasing ordinary shares. A further expansion to $1.0 billion was authorized by shareholders in July 2025.
Spotify clarified that the timing and number of shares bought back will depend on factors such as renewal of shareholder authorization, market conditions, and alternative investment opportunities. The company stated it can engage in share repurchases through various methods, including open market purchases, subject to US Securities and Exchange Commission rules.
While Spotify is not alone among large-scale music industry players in undertaking share buybacks, the firm has been active in this area. Universal Music Group launched its first-ever share buyback program worth €500 million ($575m) in March and doubled that authorization to €1 billion by August. UMG used half of the expanded authorization to purchase shares from Bill Ackman’s Pershing Square, which sold Spotify after rejecting a $64 billion takeover bid.
UMG completed its initial €500 million program in July, having spent €499.2 million buying back its own stock. The company is now launching an additional €250 million tranche of the program.
Spotify has been actively expanding its share base as it aims to bolster its financial position and potentially offset declines in subscription revenue. In Q2 2026, Spotify grew its Premium subscriber base by 7 million to reach 300 million paying users, bringing the firm’s total Monthly Active Users (MAUs) across 184 markets to 777 million.
The company reported total revenue of EUR €4.777 billion ($5.56bn) in Q2 2026, up 14% year-over-year, and posted quarterly operating income of €655 million ($762m). At the end of that quarter, Spotify held €9.4 billion in cash, restricted cash, and short-term investments.
