As more consumers migrate to digital services like Spotify and Netflix, paying for them directly through mobile phones and using mobile wallets is a growing fintech niche occupied by disruptors like Boku.

The streamer said Friday that it was pulling out of Russia because of recent laws that could endanger its employees. It expects operations to be suspended by the end of April.

Western media companies need to strike a balance between their desire to provide news to Russian citizens while facing significant challenges related to the country's invasion of Ukraine and the country's business environment.

While it is best known as a music streamer, it also hosts and distributes a range of podcasts with political content.

The free service was still available despite the fact that Premium was stopped in Russia. It said earlier this month that it would close an office in the country and remove Russian state media content.

It's critically important to try to keep our service operational in Russia to provide trusted, independent news and information in the region. Legislation that restricts access to information, eliminates free expression, and criminalizes certain types of news puts the safety of employees at risk, according to a statement.

Apple and other tech firms have stopped offering products and services in Russia. McDonald's and Starbucks have stopped doing business in the country after it was invaded last month. Logistical challenges and a weak ruble are some of the challenges that companies face in the country.

The country's recent suppression of news and other media that could shine a negative light on the Russian war is what led to the decision by Spotify.

Several English-language news organizations have examined how to keep reporters and other staff safe in Russia in response to the country's false news law.

The Russian operations of the British Broadcasting Corporation were suspended earlier this month. CNN and The New York Times have scaled back their operations in the country.