A long chain of never-ending economic and political reforms have turned post-Soviet Russia into a new state within some 15 years. Relative stabilization makes Russia with its population of 143 million and 11 time zones more attractive for music business, especially for short-term investments and projects. This study primarily focuses on the cities of Moscow and St. Petersburg, the centres of economic and cultural life. Piracy remains the most important problem for the Russian music business, which is de facto not based on copyright. Nevertheless, the record market is growing while the showbiz market remains utmost attractive to European professionals.