Spotify has increased the size of its share repurchase program by an additional USD $1.5 billion.
The company’s Board of Directors approved the increase, which Spotify confirmed in a press release on Thursday (August 20).
With $723 million left under the existing program, the increase raises Spotify‘s total authorization to approximately $2.223 billion.
The program “will run for as long as the shareholders’ authorization to the Board of Directors to repurchase ordinary shares remains in force (including by renewal),” Spotify said.
Spotify said the timing and number of shares it buys back would depend on factors including “the renewal of repurchase authorization by shareholders, price, general business and market conditions, and alternative investment opportunities.”
Repurchases can be made “from time to time using a variety of methods, including open market purchases,” in line with US Securities and Exchange Commission rules, the company said.
The program does not commit Spotify to buying any set number of shares and “may be suspended or discontinued at any time at the Company’s discretion.”
Spotify first launched its buyback program in 2021, when its board approved repurchases of up to $1.0 billion of ordinary shares, following approval from shareholders at a general meeting.
The company added a further $1.0 billion to that authorization in July 2025.
Spotify isn’t the only large-scale music industry player to be buying back its shares.
Universal Music Group launched its first-ever share buyback program, worth €500 million ($575m), in March, and doubled that authorization to €1 billion the following month.
It used €250 million of this expanded authorization in June to buy back shares directly from Bill Ackman‘s Pershing Square, as the fund exited the company after its $64 billion takeover bid was rejected.
UMG completed the original €500 million program in July, having spent €499.2 million buying back its own stock.
Then, in August, it kicked off an additional €250 million ($288m) tranche of the program.
UMG confirmed in April that it would sell half of its Spotify stake, a move expected to generate around $1.4 billion, to help fund its own share buyback program.
According to UMG‘s 2025 annual report, the company held 6,487,000 Spotify shares at the end of that year, equivalent to a 3.10% stake.
Spotify grew its Premium subscriber base by 7 million to 300 million paying users in Q2 2026, and now counts 777 million Monthly Active Users across 184 markets.
Spotify generated total revenue of EUR €4.777 billion ($5.56bn) in the quarter up 14% year-over-year, and posted quarterly operating income of €655 million ($762m).
The firm’s Premium monthly average revenue per user stood at €4.89 ($5.69), up 7.4% year-over-year at constant currency.
Spotify ended Q2 with €9.4 billion in cash, restricted cash, and short-term investments.Music Business Worldwide