Russians spend billions of rubles on music services
By ForGeeks RBC reported that Russians spent more than 25 billion rubles on music services in 2023, citing a study by the National Federation of Music Industry (NFMI). All Russian and foreign music services present on the runet earned this amount with an audience of 76.3 million listeners. The share of domestic streaming services is 95%, with Apple Music accounting for the remaining 5%.
Interestingly, owners of such services and apps make almost no money from advertising, with 97.5% of revenue coming from subscriptions (24.8 billion rubles). 21.7 million users pay for content, while 54.6 million listen for free. Advertising brought in only 387 million rubles, while music video services earned the remaining 242 million rubles.
Addresses and music video services earned the remaining 242 million rubles.
The market has grown 40% in the past year, which is attributed to Yandex Music’s recommendation algorithms according to NFMI. Researchers also point to a worldwide trend and the development of smart speakers, some of whose features are only available with a subscription. Yandex notes that the market has grown by 15% and predicts that the audience will increase by about the same amount in 2024. Service “Sound” agrees with the NFMI data, but specifies that the market growth for 2023 amounted to 30%.
Sound service
