Record label Sony Music, the music division of conglomerate Sony, has left Russia and transferred the activities and musicians active for the label to local management.
The company is leaving Russia behind over the war in Ukraine, which continues to have a “devastating humanitarian impact”. Sanctions against Russia also continue to increase. “As a result, we can no longer maintain a presence in Russia,” Sony Music said in a statement.
Sony did not disclose any details about the transaction. Earlier this year, the music business already suspended activities in Russia after the invasion of Ukraine, but now they are closing the door for good.
The company reportedly employs about 40 to 50 people in Russia. They worked for the record label, but also the distribution division The Orchard. The staff and artists who came under Sony Music Russia are reportedly transferring to the new independent label.
Free unlimited access to Showbytes? Which can!
Log in or create an account and don’t miss out on any of the stars.