Central regions | Telecoms, media | Finance, business

Savings bank to stream music?

8 Aug '19
Sberbank, Russias largest savings bank, has plans to launch a music streaming service in partnership with an existing market player, the Russian business daily Vedomosti reported, citing knowledgeable sources in the government-owned bank and an unspecified record label.

The bank is reported to have already agreed on terms with Zvooq, a Russian music service. If the partnership pans out, the two would most likely cooperate on a white label model, with the music service providing legal and technical support, as well as its library, and Sberbank developing its streaming service under a brand it chooses.

Word also came from the Vedomosti sources that Zvooq might not be the only potential partner Sberbank has been in talks with. Music services owned by Yandex and Mail.ru Group, Russias two largest IT companies, may also have been approached.
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