Spotify Launches In Russia & 12 Ex-Soviet Nations

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Music streaming giant Spotify announced yesterday that it was launching its service in Russia and 12 other countries around Eastern Europe. Gustav Gyllenhammar, VP for Markets and Subscriber Growth said that Spotify would become available to users immediately, adding that the Swedish streaming service was now accessible in 92 markets.

In addition to Russia, Spotify is also rolling out in Albania, Belarus, Bosnia-Herzegovina, Croatia, Kazakhstan, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, Slovenia and Ukraine.

“Launching in these 13 markets is an important moment in Spotify’s journey, especially as we welcome fans and artists in growing music markets like Russia, where streaming is being widely adopted.” Gyllenhammar stated.

Russia is the 17th largest global market for streaming, and is growing at a pace that would see it reach the top ten by 2030. In April this year Spotify reported 286 million active users, of which 130 million were paying subscribers. Spotify has been relatively unaffected by the Covid-19 pandemic and returned to profit in the first quarter of 2020; stay-at-home lifestyles being suitable for this type of service.

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Russia Briefing is written by Dezan Shira & Associates. The firm has 28 offices throughout Eurasia, including China, Russia, India, and the ASEAN nations, assisting foreign investors into the Eurasian region. Through our membership of the Leading Edge Alliance, we also have partner firms throughout Africa and have numerous Russian and African clients. For enquiries please contact us at russia@dezshira.com or visit us at www.dezshira.com

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