The music industry in Russia is on the verge of change, and in the coming years it will face new challenges. Musicians and bands that do not conform to the political and cultural norms of the Russian government may face censorship and a ban on distribution of their music.
The outflow of creative individuals from the country may also affect the music market in the coming years. However, this does not mean that the Russian music market is completely doomed. Most likely, the situation on the market will gradually change over the coming years. One of the key factors that can influence development is the localization of content and the creation of our own streaming services.
At the moment, most popular music platforms (Spotify, Apple Music, YouTube Music, etc.) do not work in Russia. However, in recent years, there has been an increase in the popularity of domestic services such as Yandex.Music, VK Music and Boom. The creation and development of such services can lead to the fact that creative individuals will stay in Russia in order to continue working in the domestic market and develop it.
In addition, the attitude towards Russian artists is deteriorating on political grounds, which may also affect the development of the music industry as a whole. One of the reasons for this may be the growth of state control over the content that is published on the Web, which can lead to restrictions on freedom of creativity and self-expression.
Do not forget about the negative impact on the music market by the sanctions imposed on the financial sector. One of these problems is the impossibility of receiving cash proceeds for the sale of tracks on Visa and MasterCard cards. This also means that musicians and labels may have trouble getting their share of track sales on various international sites.
As a result, musicians and labels may be looking for alternative ways to sell music, such as selling directly through their website or other local platforms independent of international payment systems. However, this may not be so easy, especially for musicians who do not have enough experience and resources to create their own venues. Thus, the impossibility of receiving cash proceeds from the sale of tracks on Visa and MasterCard cards due to sanctions may lead to a decrease in income for musicians and labels, which will further complicate the already difficult situation in the Russian music market.
My forecast for 2023 for the Russian music market is somewhat pessimistic. Perhaps some musicians and labels will look for alternative ways to promote their music, such as social networks, local platforms, and so on. However, this may not be enough to keep the Russian music industry where it used to be. Despite this, there is always hope. Perhaps in the future there will be new talented musicians and producers who will be ready to take on the role of leaders in the industry and bring new ideas to it. New technologies and platforms may also emerge to help make the Russian music market more competitive. But at the moment, the situation on the market is rather complicated, and in order for it to change, it is necessary to solve many problems and overcome obstacles, including political ones.