Russian Streaming Growth More Than Doubles

The Russian music streaming market totaled RUB 4.7 billion in 2018, according to a study from J’son & Partners Consulting.

As reported by Comnews.ru, the Russian digital and IT news publication, subscription revenues totaled RUB 3.2 billion, and advertising income reached RUB 1.5 billion.

The research forecasted an average annual growth rate of the Russian music-streaming market of 58 percent, to reach RUB 18.6 billion in revenues in 2021. Subscription revenues are expected to amount to RUB 12.5 billion, and advertising income will be RUB 6.1 billion at the end of the period.

Eight market players are active in the country, including Apple Music, Deezer and YouTube Music, as well as local players such as Yandex.Music, Boom/VK Music, Zvooq and mobile operators. Spotify plans to enter the Russian market this summer.

Source: Telecompaper