Music streaming in Russia: revenue growth and leadership of Yandex Music

The Russian music streaming market shows significant growth: the total revenue of services increased by 51% in 2024, reaching 38 billion rubles. According to J’son & Partners Consulting, subscriptions account for 98.2% of revenue, while advertising accounts for only 1.8%. The market is projected to grow further to 46.4 billion rubles by 2025 with an average annual revenue growth of 15% until 2029.

Yandex Music holds the lead in revenue, occupying 50.9% of the market, significantly increasing from 39.3% in 2022. It is followed by VK Music (26.5%), Sound (10%) and MTS Music (3.8%). Overseas services, such as Apple Music and Spotify, have a small share and continue to lose ground.

The total number of ecosystem subscribers in Russia grew by 44% by 2023 to 95.3 million users, and the number of paid music streaming subscribers increased by 51.5% to 75.5 million.

Analysts note that the widespread use of Yandex Music’s recommendation algorithms is a key factor in its success. Growth is projected to slow in 2025 due to market saturation with combined subscriptions, but product development, improved recommendation technologies and new user scenarios will contribute to maintaining positive dynamics. According to GfK, almost a third of city dwellers aged 16 to 55 had a paid ecosystem subscription, and Yandex Plus had 43.2 million monthly subscribers at the end of the second quarter of 2025.