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Major Music Companies Pause Business in Russia

Mount Equity Group Tokyo Japan > News > Business > Major Music Companies Pause Business in Russia

The music world’s most powerful companies — the three major record conglomerates, and the touring giant Live Nation — are cutting ties with Russia over its invasion of Ukraine, and artists like Green Day and AJR have canceled concerts in Russia.

On Thursday, Sony and Warner Music both announced — within minutes of each other — that they were suspending operations in Russia. Their statements came two days after Universal Music, the largest conglomerate, said that it was shuttering its offices in Russia and ceasing to do business there.

Last week, Live Nation said: “We will not promote shows in Russia, and we will not do business with Russia. We’re in the process of reviewing our vendors so we can cease work with any and all Russian-based suppliers.”

Apple has paused the sale of its products in Russia, and said it was disabling some features of its maps app to protect Ukrainian citizens. Spotify’s chief financial…

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