Leading global law firm Baker McKenzie advised Spotify, one of the world’s most popular audio streaming subscription services with a community of more than 299 million users, on its launch in 13 new markets on 15 July 2020.
As the leading platform driving music discovery on more types of devices than any other service, Spotify’s expansion in Europe comes as consumers in the region embrace streaming. According to the International Federation of the Phonographic Industry (IFPI), Russia is the 17th-biggest streaming market in the world and on pace to be the 10th-biggest streaming market by 2030. More than 87 percent of fans in Russia now access music through streaming, compared to 61 percent adoption globally, and 68 percent adoption in the U.S., according to IFPI.
The Baker McKenzie team was led by Stockholm corporate partner Anna Orlander, Moscow TMT partner Ed Bekeschenko, IP partner Denis Khabarov, real estate partner Konstantin Kouzine, international commercial and trade partner Vladimir Efremov, alongside associates Vadim Perevalov, Anna Bazhenova, Denis Ezhov, Valeriya Eystrakh and Lilia Badretdinova.
For more information about this transaction, please see Spotify's press release.