Spotify’s recent decision to suspend services within Russia has caused the company losses amounting to nearly 1.5 million subscribers.
According to Variety’s findings, the loss has amounted to nearly 1.5 million paying customers within the first quarter of 2022.
However, Spotify CFO Paul Vogel urges that the loss isn’t material, since their revenue from Russia totals to less than 1% of the company’s total earnings.
He made this admission in a conference with Morgan Stanley’s 2022 Technology, Media and Telecom Conference.
For those unversed, Spotify previously announced that they have suspended all services and shut down their offices within the country.
Content has also been pulled from Kremlin-affiliated media outlets RT and Sputnik.