Sberbank is creating a new audio streaming service based on an independent player, Zvuk. Branded as SberZvuk, the audio streaming service shall unite 40 million songs from the world`s top copyright holders (Universal Music Group, Sony Music Entertainment, and Warner Music Group), local and independent recording studios, and a collection of popular audiobooks and podcasts. The deal will see Zvuk become Sberbank`s wholly-owned entity. Mikhail Ilyichev, who headed Zvuk between 2014 and 2017, will be re-appointed as the service`s new CEO, with the current CEO, Igor Mukhin, to remain a team member. Audio streaming is a strategically important element of the Lifestyle industry and the world`s...
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