Swedish music service Spotify has been discussing the return to the Russian market. About this newspaper “Vedomosti” with reference to employees of several major music labels and media companies.
The discussion is at a very early stage, the decision to return is still pending, but the company takes into account the fact that Russia is a large market with high growth potential, said the sources. A representative of Spotify has not responded to the request of the newspaper.
As noted by a member of one of the record companies, the success of the service in Russia will depend on whether Spotify to prove that this service will differ from the Apple Music, Google Play, Yandex.Music and Deezer.
Previously, Spotify has already tried to enter the Russian market. In January 2014, Swedish company Spotify AB has registered OOO “Spotify” in Russia. In the spring of that year it became known that business development on the Russian market will take Alexander Kubaneishvili, who previously held high positions in Google. In September, Spotify moved out to the market from autumn 2014 to early 2015. Sources reported, the transfer happened because of the fact that the service is not able to agree with mobile operators about the partnership.
In February 2015, Kubaneishvili officially confirmed to RBC that the launch of Spotify in Russia canceled. The cause was complications from an economic and political situation in Russia, as well as changes in legislation governing the Internet.