Sony Group Corp’s music business is pulling out of Russia and placing the company and all employees under local management because of the ongoing conflict in Ukraine.
It has been six months since the music company decided to suspend its operations in Russia in response to the global condemnation against the Kremlin and its president, Vladimir Putin
Sony Music has now decided to abandon the Russian market entirely. Leaving its former Managing Director for Russia, Arina Dmitrieva, to set up a local independent company to assume control of Sony Music’s Russian label interests, sources told Billboard.
Dmitrieva’s company will now be handling Sony Music’s representation for their locally signed artists in Russia. On the other hand, international acts that were distributed by Sony Music Russia previously are not included in this transfer.
“As the war continues to have a devastating humanitarian impact in Ukraine, and sanctions on Russia continue to increase, we can no longer maintain a presence in Russia,” Sony Music said in a statement.