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Spotify will enter Russian market, Sberbank CIB forecasts

Spotify is the first streaming service making possible to listen to the music online without downloading it

MOSCOW, March 19. /TASS/. The international musical service Spotify will enter the Russian market and a similar service planned for creation by the Mail.ru Group will appear, Sberbank CIB said on Tuesday in its report on the forecast of revenues to be received by the Russian Internet company Yandex from musical services.

"We expect that Yandex revenues from subscriptions to musical services will grow by approximately 50% per year in average in 2018-2021 on account of the increasing share of paying users. Key drivers for that will be a potential entry of Spotify on the Russian market and an entity of the ecosystem planned for creation by Mail.ru Group," Sberbank CIB said in the review.

Spotify is the first streaming service making possible to listen to the music online without downloading it to the computer. The service is available in the United States, the majority of European countries, and certain Asian nations.