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Spotify Set to Launch in Russia
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variety.comSpotify will enter another fertile market: Russia. As first reported by Music Business Worldwide, and confirmed by Variety via sources, July 15 will mark the Swedish streaming giant’s 80th territory, home to nearly 100 million smartphones.
Per MBW, Spotify is expected to partner with Russian telco MTS for its launch. Spotify declined to comment.In Spotify’s last quarterly earnings call at the end of April, the company reported 130 million paid subscribers and 286 million total global users.
Two weeks ago, Spotify’s stock reached an all-time high — at $267.48 per share — boosted by an upgrade from Goldman Sachs, which raised its price target from $205 to $280.
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