Urging Violence In Ukraine To End Immediately, Universal Music Group Stops Operations In Russia

JAKARTA - Universal Music Group said Tuesday that it is suspending all operations in Russia and closing its offices adding to a growing number of companies protesting Russia's invasion of Ukraine.

The world's biggest music company's decision follows an announcement last week by Spotify that it would close its Russian office in response to Russia's attack on Ukraine.

"We urge an end to the violence in Ukraine as soon as possible," Universal Music said in a statement.

Furthermore, Universal Music announced that it would support the refugees who were victims of the conflict between the two countries.

The support provided includes logistics and assistance for the needs of the victims.

"We comply with international sanctions and, together with our employees and artists, we work with groups from various countries (including the US, UK, Poland, Slovakia, Germany, Czech Republic and Hungary) supporting humanitarian relief efforts to bring urgent aid to the world. refugees in the area," Universal Music said, as quoted by ANTARA.

Of course, the closure of Universal Music's services and operations in Russia will have a huge impact considering that Russia is one of the most promising and growing markets for the global music industry.

That's seen with streaming services like Apple Music and Spotify attracting millions of subscribers in a place that was once dominated by piracy.

Russia ranks among the top 20 global markets, according to the International Federation of the Phonographic Industry, recorded music sales in Russia reaching 199 million US dollars in 2020, with a growth rate of 30 percent.