After opening up in 13 new territories, the global streaming service now reaches 92 markets worldwide.
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Streaming company Spotify has expanded their domination of the global streaming market by launching in an additional 13 territories. The list of new markets in which Spotify is now operating includes Albania, Belarus, Bosnia & Herzegovina, Croatia, Kazakhstan, Kosovo, Moldova, Montenegro, North Macedonia, Russia, Serbia, Slovenia and Ukraine.
The most significant expansion for Spotify is their move into Russia, which (according to IFPI data) was the world’s fastest-growing music market in 2019, with a 50% raise in wholesale revenue as compared to 2018. The launch of Spotify in Russia is likely to boost this growth even further and open up a colossal customer base to the streaming service. Russian has a population of 144m people, and 87% of Russian music consumers use streaming services: as a result, this expansion likely to be a hugely profitable opportunity for Spotify. In total, the addition of these 13 new countries brings a potential user base of almost a quarter of a billion people into Spotify’s grasp.
“LAUNCHING IN THESE 13 MARKETS IS AN IMPORTANT MOMENT IN SPOTIFY’S JOURNEY, ESPECIALLY AS WE WELCOME FANS AND ARTISTS IN GROWING MUSIC MARKETS LIKE RUSSIA, WHERE STREAMING IS BEING WIDELY ADOPTED AND WHERE WE SEE A SIGNIFICANT OPPORTUNITY FOR SPOTIFY.”Gustav Gyllenhammar, Spotify