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After sustainable growth and development in music streaming services, Spotify Technology has recently affirmed its upcoming business expansion venture across Russia.
Russia has long been touted as the mecca for musical expertise and is estimated to remain a fast-growing regional hub for music.
Furthering its expeditions in the same line, the streaming company has also announced its recent partnership with Russian mobile operators, Mobile TeleSystems, resulting in six month free subscription to Spotify to all MTS users.
Following its successful venture in India last year, the music streaming app is expected to further continue its development and expansion sprees with a dozen new expeditions coming up in over twelve more regions besides its Russian expansion spree.
According to recent reports, the musical application is expected to offer dual services as subscription based as well as free services over thirteen locales such as Belarus, Croatia, Albania, Serbia, Ukraine, and Slovenia besides others.
Besides Russia, the company is likely to invest in further expansion projects in South Korea as affirmed by Spotify Chief Executive, Daniel Ek during this year’s first quarter meeting.
However, the estimated time of the South Korean expansion is still uncertain said Daniel. With these upcoming novel ventures, Spotify will emerge as one of the top 92 global markets.
Adding further Daniel said that through the ongoing lockdown and physical isolation norms across the globe, Spotify has witnessed favorable leap in its subscription and has therefore, decided on this vital expansion plan even amidst indefinite lockdown.
This explains Spotify’s lucrative business move which is likely to add to its growing global presence.
However, despite its full-fledged business operations in Russia, Spotify will for the time being withhold its podcast launch in the country owing to market infancy, however, future prospects are still strong to launch full-fledged operations across verticals.