Universal Music Group issued a statement earlier today suspending all operations in Russia in wake of its ongoing invasion of Ukraine.
The following statement was issued today in regards to the suspension of operations and the closing of Universal Music Group offices in Russia.
Effective immediately, we are suspending all operations in Russia and closing our offices there. We urge an end to the violence in Ukraine as soon as possible. We are adhering to international sanctions and, along with our employees and artists, have been working with groups from a range of countries to support humanitarian relief efforts to bring urgent aid to refugees in the region.
The decision by the world’s largest music company comes after Spotify announced last week that it would close its branches in Russia in rebuttal to what it explained as Moscow’s unprovoked attack on Ukraine.
According to Variety, a source has disclosed that while the company’s employees will continue to be paid for an indefinite period of time, artists’ recording activity will likely be halted.
Universal is the latest company to announce its withdrawal from Russia following the country’s invasion of Ukraine on February 24, which drew widespread condemnation around the world. Live Nation announced earlier this month that it would no longer promote shows in Russia or do business with the country, saying in a statement that it was joining “the world in condemning Russia’s invasion of Ukraine.”
Netflix, which shut down streaming in the country last week, is one firm that has restricted service in Russia. “Given the circumstances on the ground,” a representative said at the time, “we have decided to suspend our service in Russia.”
Russia was once viewed as a promising developing industry by the music industry, with streaming services such as Apple Music and Spotify luring millions of subscribers in a country once controlled by piracy. According to the International Federation of the Phonographic Industry, Russia is among the top 20 global markets, with recorded music sales expected to reach US$199 million by 2020, with a 30% growth rate.
