Spotify are finally launching their music streaming service in Russia after years of attempts.
At least, that’s what reports are suggesting from Music Business Worldwide who say that Spotify will launch in Russia next Wednesday, July 15th. According to the publication, ‘multiple senior music industry sources’ have revealed the date for Spotify’s expansion into Russia.
Their sources say that Spotify are likely partnering with Russian telecommunications company MTS to launch in the region. With over 95 million estimated smartphone users and nearly 150 million people in total Spotify will be hoping to add a large new user-base with the launch.
Russia aren’t just a huge country but also show huge potential for the blossoming of music streaming there. In 2019 the IFPI showed that Russia was the fastest growing major market for the record industry, with a 50.3% increase in music revenues from the year before. They are the world’s 17th largest music market.
Spotify have been attempting to launch in Russia for years but for various reasons have never quite made it. Back in 2014 Spotify reportedly set up an office to launch their music service there but backed out over concerns with the “political and economic crisis in Russia”.
Conversations with the region then restarted in 2016 though again nothing came of it. Then last year reports told that Spotify would go live in Russia in the Summer of 2019 which, of course, we now know didn’t happen.
In Spotify’s Q1 call earlier this year, founder and CEO Daniel Ek spoke on Spotify’s efforts to launch in Russia and South Korea saying: “We’ve talked about both Russia and South Korea as the markets we want to be in and nothing has changed there…
“So, while we have nothing to announce at this point, you should know they’re definitely two markets that we are focused on and all the guidance that we provided includes the timing of any new market launches, whether it be South Korea, Russia, or anything else.”
We’ll have to wait until next week to find out of MBW’s sources are correct.