But with more stringent laws coming along, Spotify fears for the lives of both its streamers and listeners and has decided to completely shut off all its operations in Russia. The law even refuses to call the war a “war” and instead names it a “special military operation”.įollowing these updates, Spotify had earlier decided to discontinue its paid premium services in the country.

The new media law has compelled many leading news stations to exit Russian territory. In one such attempt, the Kremlin has issued a new law that carries up to 15 years imprisonment if anyone is convicted of spreading false news about its invasion of Ukraine. In response, the Russian government has imposed several restrictions trying to curb the influence of western media on its masses. Since the onset of the Russia-Ukraine war, a number of Western companies have exited the invading nation, and imposed numerous sanctions on it.

Year-to-date, its stock is down more than 40%. Shares of Spotify closed down 2.2% at $146.04 on March 25. Amid growing concern about employee safety in the wake of Russia’s new media restriction laws, music streaming platform Spotify Technology SA ( NYSE: SPOT) has decided to completely discontinue its Russia operations.Īpart from music streaming, Spotify also hosts several podcasts with political content.

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