The streaming music market in Russia grew by 40% during the year

As follows from analyst materials, 97.5% of the total revenue from services came from paid subscriptions. Another 387 million rubles were raised thanks to advertising activities. In addition, video hosting sites with music content (such as YouTube Music) managed to earn 242 million rubles.

Although streaming revenue has increased significantly year after year, most Russians still prefer to listen to subscription-free, ad-supported music. As follows from NFMI data, the average monthly audience of services in Russia is approximately 76.3 million people. Of them, only 21.7 million users pay for a subscription.

At the same time, Russians use subscriptions mainly for domestic services, their share was 95%. The remaining 5% is taken up by Apple Music subscriptions.

In 2022, due to the outbreak of hostilities in Ukraine, Universal Music Group, Sony Music and Warner Music Group ceased operations in Russia. The departure of major record labels caused a decline in the national streaming music market, as local services lost a significant portion of foreign content.

Yandex.Music told the publication that the growth in service revenue is due to the growing willingness of citizens to pay for music in particular and Internet entertainment in general.

At the same time, the service has to constantly remove various materials at the request of the Russian authorities. In the first 9 months of 2023, the company removed 4,333 pieces of content, including music, podcasts, and album covers.