Yandex Music will launch donations for artists – Kommersant
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On December 6, the Yandex Music music service will add a function for user monetary donations for artists. About it “Vedomosti” said a Yandex representative. The platform will not deduct a commission from such deductions.
Yandex Music also plans to double rewards to musicians for releasing new content. Next year, the service will allocate 100 million rubles for these purposes, the publication’s interlocutor clarified.
Yandex Music will become the first Russian music service to offer artists a donation function. Experts believe that this will allow the service to attract new promising artists and compete with other platforms.
As Forbes reported, in 2024 the number of subscriptions to music services could grow by 15%. This should bring the industry up to 24-26 billion rubles. In 2023, about 23 million people are subscribed to Russian music services, according to Yandex Music. Over the past two years, the figure has increased by 20%.
Read more in the Kommersant FM article. “Music services increase audience.”
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