MOSCOW, Dec 20 (PRIME) -- Russian Internet company VK may acquire music digital distribution platform Multiza that has contracts with Western streaming services, including Apple Music and Spotify, and offices abroad, business daily Kommersant reported on Tuesday quoting market sources.
Multiza may be merged with VK United Media Agency (UMA), which places tracks in VK Music as well as VK’s social networks VKontakte and Odnoklassniki, the sources said.
UMA can upload tracks only on VK’s platforms. “In order to enter the market of digital distribution and music licensing fully, the holding needs a service with ready software and contracts with Western streaming services,” one of the sources told the daily.
He added that VK cannot itself sign direct contracts with foreign platforms, including, among others, the sanctions against the holding’s head Vladimir Kiriyenko.
Andrei Volyanik, head and 100% owner of Multiza, said that the negotiations are at the stage of technical assessment, the opportunity of integration of Multiza’s software into VK’s infrastructure is being studied. He also said that Multiza has contracts with Russian and foreign streaming services and offices in Canada and Dubai.
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