The logo of Russia's state-owned bank Sberbank is seen on one of its offices in central Moscow on April 12, 2021.MOSCOW — Russia's largest state-run bank, Sber, has acquired the local music streaming company Muzlab to merge it with its own service, SberZvuk, in a bid to beef up its streaming business.
Sber hopes that the merger of SberZvuk and Muzlab, which focuses on the business market, will enable it to achieve synergies and create new opportunities to grow in both the consumer and business segments,"After the Muzlab deal, new prospects for targeting both [segments] are opening up," he says."For instance, you come to a restaurant, and one cool track after another is playing there, and you would like to get the entire playlist. Now it will be possible.
"In addition, SberZvuk users will be able to get more actively involved in businesses' activities thanks to playlists and their profiles created in SberZvuk," he says. "They will be able to get news and offers from businesses, while artists will get more opportunities for monetizing their music." Founded in 2016, Muzlab operates on a subscription model and is the largest player in Russia's B2B streaming segment. In recent years, a wave of newer, all-digital B2B platforms like
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