According to a study by analysts from Trust Technologies and the creative bureau K22, the concert industry in Russia in terms of revenue this year will fall to the level of 2017. This is due to the low marginality of concert activities, the cancellation of concerts by foreign and a number of Russian performers.
In terms of streaming revenue, the departure of Spotify and the loss of Apple Music subscribers due to the inability to pay for a subscription will lead to the distribution of the audience among other services. Moreover, as it turned out, foreign premieres are not so important to Russian listeners – the majority prefers domestic performers.
Yandex noted that the growth of music streaming in Russia has not slowed down, and about 500,000 Spotify subscribers have switched to Yandex Music.
The concert industry, experts say, can recover in 10-20 years.
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