Spotify rolls out service in 13 new European markets including Russia
Category: #world  By Pankaj Singh  Date: 2020-07-16
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Spotify rolls out service in 13 new European markets including Russia

Audio streaming subscription service Spotify has reportedly announced the launch of its streaming services in 13 new markets spread across Europe including Belarus, Croatia, Kosovo, Albania, Bosnia & Herzegovina, North Macedonia, Serbia, Russia, Moldova, Slovenia, Kazakhstan, Montenegro, and Ukraine.

According to Gustav Gyllenhammar, the Vice President of Markets and Subscriber Growth at Spotify, the company’s launch in these new markets will give around 250 million fans the opportunity to start discovering new music from across the globe. It will also enable the artists in the region to reach the integrated network of globally connected fans. Gyllenhammar has further stated that Spotify’s launch in these 13 markets is a crucial moment as the company welcomes artists and fans in expanding music streaming markets such as Russia.

Sources claim that Spotify will reach a worldwide total of 92 markets after this market expansion. Spotify has taken this step for expansion in Europe looking at the increasing trends of music streaming usage by consumers in the region. As reported, the platform drives music discovery on more types of devices than any other streaming service.

The International Federation of the Phonographic Industry has stated that Russia is the 17th largest streaming market in the world and is on its way to emerge as the 10th largest streaming market by 2030. IFPI has also stated that over 87 per cent of the Russian fans now access music through streaming as compared to 61 per cent at the global level and 68 per cent in the U.S.

Spotify has launched both, Free and Premium services, in each of its 13 new markets. The platform has also introduced 200 new playlists featuring regional artists making them available to their fans across the globe. The Spotify app will be available for free download and also comes with an upgrade to Spotify Premium, comprising Student, Individual, Family, and Duo Premium Plans.

 

Source Credits:

https://www.businesswire.com/news/home/20200714005912/en/Spotify-Launches-Russia-12-Additional-European-Markets



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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