Sony Music

History

2022: Transfers Russian business to local executives

On September 8, 2022, it became known that Sony Music was transferring Russian business to local leaders and was finally leaving the Russian market. According to Billboard, the Russian division, together with employees, will come under the control of a new legal entity, which was created by the former director of Sony Music Entertainment Russia, Arina Dmitriyeva.

As Sony Music said, since the military conflict in Ukraine has a devastating impact on the country, and sanctions against Russia continue to intensify, the company in these conditions can no longer maintain a presence in Russia.

Sony Music transfers Russian business to local leaders

According to a Billboard source, Dmitriyeva new company will be a completely independent and separate structure from Sony Music Group, which will represent only local artists.

International artists (Ed Sheeran, Harry Styles, Childish Gambino, Jennifer Lopez, Michael Jackson and others) are not included in the company's transfer terms. Sony Music has turned to Russian streaming services with an official request to remove the repertoire of artists associated with the company.

The Russian division of Sony Music Group employed from 40 to 50 people. Some of them are expected to be offered jobs at a new, independent label.

According to Billboard, before the Russian special operation in Ukraine, the music industry in the Russian Federation was rapidly developing. The country became the 13th largest by music market in the world.

Sony Music announced the suspension of activities in Russia in early March 2022. Since then, new compositions have not appeared in Russian music services, the rights to which belong to Sony. Employees of the Russian division of the company, despite the suspension, continued to receive salaries.^[1]

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