Qobuz Achieves 45.7% Revenue Growth in 2025, Outpacing Paid Music Streaming Market Growth

Key Achievements

High-fidelity music platform Qobuz achieved 45.7% revenue growth in 2025, significantly outpacing the paid music streaming market (valued at $16.6 billion), which grew by 8.8%.

Qobuz's average revenue per user (ARPU) is $135.90, exceeding 6.5 times the market average of $20.74.

Over 80% of revenue is generated outside France. The largest market is the United States.

Free cash flow is positive. No financial debt.

(Source: International Federation of the Phonographic Industry, GLOBAL MUSIC REPORT, March 18, 2026)

Outpacing Growth in the Paid Streaming Market

In 2025, the global music streaming market reached $31.7 billion (IFPI 2026, 2025 market data). Streaming accounted for 69.6% of the total market, continuing to drive growth in the music industry.

The paid subscription market, in particular, grew 8.8% year-on-year, with value creation increasingly concentrated among passionate paying users.

Since its founding, Qobuz has consistently focused on a paid subscription model and recorded 45.7% year-on-year revenue growth in 2025. This represents over five times the overall market growth rate of 8.8%, with monthly active users reaching 1.2 million.

Shinobu Hidenobu, Domestic General Manager of Qobuz Japan, commented as follows:

"Since our launch in Japan in October 2024, we have received strong support from music fans and audiophiles. This global growth demonstrates that our dedication to high-quality sound and music experiences is being recognized by users worldwide. We will continue to expand Qobuz's unique value in the Japanese market."

A Global Service with the U.S. as Its Largest Market

Founded in France in 2007, Qobuz now operates in 26 countries, including Japan.

In the 2025 fiscal year, over 80% of revenue came from international markets outside France, with the U.S. becoming the largest market.

Additionally,

Positive free cash flow

Zero financial debt

EBITDA break-even achieved under IFRS standards

These factors strengthen the operational foundation supporting sustainable growth.

Qobuz's Presence in the Market

In a market dominated by technology companies with vast capital, Qobuz has consistently upheld its founding principles:

"Respect for music"

"Respect for artists"

"Respect for listeners"

These principles are reflected in consistent business decisions:

100% paid model with no advertising

High-resolution audio that faithfully reproduces the sound as artists created and recorded it

The only platform integrating high-resolution music downloads and streaming

Editorial curation by journalists and music teams

100% human-driven track selection and recommendations

A system where all employees share in the company's success and participate in management as shareholders

These initiatives directly contribute to giving back to the music industry.

In March 2025, Qobuz became the world's first and only streaming service to publicly disclose its average royalty payment per stream, verified by a third-party organization.

The average payment for 2024 was $0.01873 per stream, meaning $18.73 is paid to rights holders for every 1,000 plays.

Maintaining a 'Human-Centric' Approach in the Age of AI

In February 2026, Qobuz released its 'AI Charter' (AI guidelines), clarifying its policy on AI-generated content.

Qobuz is advancing initiatives to:

Ensure 100% human editorial selection

Identify and label AI-generated content

Combat fraudulent streaming

Protecting both artists and listeners.

■ About Qobuz

Official website: https://www.qobuz.com/

Founded in 2007, Qobuz is an independently funded music platform that has established a unique presence in the market as a pioneer of high-quality audio streaming. It currently operates in 26 countries, including Europe, the United States, Canada, Australia, New Zealand, Latin America, and Japan, serving all those seeking a truly enriched music experience.

With over 100 million lossless tracks (CD quality, high-resolution audio [24-bit / up to 192kHz], DXD, DSD), Qobuz offers the largest high-resolution catalog in the market, recognized by leading premium audio brands worldwide. In addition to respecting original recordings, Qobuz emphasizes meticulous, human-curated music experiences through exclusive editorial content and handpicked playlists created by its music team.

In 2025, Qobuz became the first in the industry to publicly disclose its 'average payment per stream' ($0.01873), verified by a third party, and announced it as the highest rate in the market—reaffirming its commitment to a fairer and more sustainable streaming model.

Qobuz is also certified with the 'Hi-Res Audio' label by the Japan Audio Society (JAS).