Yandex predicts growth of the music streaming market by 10-15% by the end of the year
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By the end of 2023, the music streaming market in Russia may grow, said Alexandra Sagalovich, head of Yandex Music. According to her, the growth will be about 10-15%, which will allow reaching the volume above 2021.
Evgeniy Safronov, General Director of the InterMedia agency, predicted that by the end of the year the market would grow by 10-15% in value terms. At the end of 2022, InterMedia estimated the volume of the Russian music streaming market at 5-7 billion rubles; year-on-year, it fell, according to the agency, by 30-50% (see Kommersant dated April 6). “According to our estimates, the decline in the volume of the market of music streaming subscribers in money terms in 2022 is much less than the agency’s forecast,” said Ms. Sagalovich.
Yandex Music also added that in March 2023, the monthly listening audience of the service (MAU) almost doubled compared to last year. The trend was influenced by the launch of the My Wave recommendation system: “Artists began to expand their audience faster, and listeners began to discover new music.”
Spotify suspended operations in Russia in April 2022. Apple stopped accepting payments for Apple Music subscriptions from Russian cards in March, while YouTube disabled access to YouTube Music subscriptions.
However, you can still pay for a subscription to some services. Topping up an Apple ID account from a mobile phone balance works for subscribers of Beeline and MTS mobile operators, and on the Ozone, Yandex Market, Wildberries platforms, you can buy App Store or iTunes gift cards and use them to pay for an Apple Music subscription. There is also an option to continue using YouTube Music, but without the ability to download tracks.
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