Spotify is entering a new chapter—one that could transform the global music landscape. Following Daniel Ek’s decision to step away from daily leadership, the company’s new co-CEOs, Alex Norström and Gustav Söderström, have unveiled an ambitious vision: they want one in every seven people on Earth to become a paying Spotify subscriber.
This bold plan, announced during Spotify’s recent leadership update, signals a renewed focus on massive global expansion.
Aiming for 1.2 Billion Paying Users
During the call, Norström, who also serves as Spotify’s Chief Business Officer, explained that it’s “not unimaginable that we’ll be at 10%, 15% of the world’s population paying for Spotify Premium someday.”
Currently, Spotify has 276 million paying subscribers, reaching roughly 700 million monthly users in total. Yet, that still represents only 3% of the global population—an enormous gap the company now sees as an opportunity for growth.
Norström highlighted regions such as India, Pakistan, Bangladesh, and Africa as key frontiers for future expansion, where music streaming adoption is accelerating.
A Consumer Business Like No Other
Gustav Söderström, Spotify’s Chief Product & Technology Officer, echoed this optimism. “We have a consumer product that touches upwards of 700 million users every month,” he said. “It’s still only 3% of the world’s population that subscribes. So the opportunity is still huge.”
Indeed, with the music streaming market booming and smartphone penetration on the rise globally, Spotify’s vision seems more achievable than ever. Their plan isn’t just about increasing numbers—it’s about deepening global music engagement and bringing Premium experiences to new audiences.
Daniel Ek Steps Into a New Role
Spotify’s transformation also comes as co-founder Daniel Ek transitions into a new role. After leading the company since 2006, Ek will move into the position of Executive Chairman in early 2026.
He emphasized that this change is part of a long-term strategy to decentralize leadership and strengthen Spotify’s global structure. Ek will now focus on “the long arc of the company,” ensuring its long-term vision stays intact.
However, the market reacted cautiously to the leadership shift—Spotify’s stock dipped by 5%, wiping out nearly $7.5 billion in market value for the week ending October 3rd.
The Future Sounds Bigger Than Ever
Despite the short-term dip, investors and music fans alike have reasons to stay tuned. With Norström and Söderström steering the ship, Spotify’s future seems poised for a major expansion—and perhaps the most ambitious growth phase in the company’s history.
If their plan succeeds, Spotify won’t just be the world’s largest music streaming service—it will become a global cultural powerhouse, connecting billions through sound.