Spotify will no longer accept paid subscriptions or ads in Russia in light of the current unrest in Ukraine. The streaming platform made the decision week after it closed its office in Moscow, according to Loudwire.
Spotify’s CFO Paul Vogel spoke at Morgan Stanley’s 2022 Technology, Media and Telecom Conference March 10 where he reported an estimated 1.5 million Russian premium account subscribers will be lost in first quarter 2022. A spokesperson on behalf of the company also added that Russian consumers only make up 1% of total revenue so the loss will not hurt the company’s pockets as much as people think.
Spotify, however, will continue to stream their own news hub For The Record in Russia in order “to allow for the global flow of information” to continue. The news show directs listeners to pertinent international information such as COVID-19, world events and more.
Russia’s attacks on Ukraine are causing more and more corporations, musicians and bands to push services out of the area.
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