Spotify is launching its streaming service in Russia and 12 other countries in Europe, reaching potentially 250 million new users.
The streaming service has announced an expansion into 13 new markets, reaching potentially 250 million new users -- if only it can sign them up.
The launch comes as the digital streamer has been expanding aggressively into new markets. It introduced the platform The Russian music market, the 17th-largest overall, was the fastest-growing in the world in 2019, up 50.3% to $171.7 million in revenues, according to the IFPI. It is poised for strong growth. Streaming revenues jumped 76% to $134.1 million in 2019. And it had 7.5 million subscribers in the first quarter of 2020, Mulligan says.
Spotify’s launch in Russia, which has been long-delayed, comes as the country’s streaming landscape has been maturing locally. Spotify originally planned to launch in Russia in early 2015. Back then, it opened a Russian office and hired a regional director.
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