The singer-songwriter now boasts close to 120.5 million monthly listeners ... ahead of fellow popstar Taylor Swift who is reportedly the only other artist with more than 100 million monthly listeners.

The Weeknd held the record ever since first breaking 100 million back in February 2023 ... holding the title in nearly every month since reaching the total.

It's been a big few weeks for The Weeknd on the streamer ... 'cause his song "After Hours" became the newest member of Spotify's Billions Club -- songs which have been streamed more than 1 billion times.

According to reports, "After Hours" is The Weeknd's 18th song to break the 1 billion streams threshold ... more than any other artist.

Of course, he also holds the most streamed song in Spotify history ... with the 2020 track "Blinding Lights" sitting in the all-time top spot.

The Weeknd just finished up two sold-out shows in Australia ... and, he's got two more scheduled for next weekend.

Sources with direct knowledge tell us he'll be spending the next week in Sydney ... and, he's looking forward to putting on a great show for the ground. We're told he's focused on performing and music he already has out at this point rather than working on anything new.