Spotify Technology S.A. delivered strong Q2 results, driven by robust MAU growth and effective monetization strategies, including AI and advertising scale. Premium subscribers exceeded guidance with 7 million net additions, supporting 14% YoY revenue growth and a 7% YoY increase in premium ARPU (FX neutral). Ad business momentum accelerates, with auction-based ads now 40% of mix and ad revenue growing 30%, enhancing top-line visibility.