Sberbank is considering launching its own music streaming service.
One of the current players can become a project partner. According to unofficial data, Sberbank has already agreed on a partnership with the music service Zvooq. If an agreement is reached, the service will provide its own music library and technical support, while Sberbank will develop it under its own brand.
Currently, the state bank is also negotiating with services owned by Mail.ru Group and Yandex. Earlier it was reported that the development of its own ecosystem is one of the highest priority areas for Sberbank until 2020. The ecosystem already includes about twenty services, including Yandex.Market, the corporate messenger Dialog, as well as medical DocDoc and other projects. Over the past three years, the bank has invested about $1 billion in the development of non-banking services.
As of August 2019, Yandex.Music operates with an audience of about 2 million subscribers. The company notes that they are negotiating cooperation with companies from various fields, without confirming the possibility of joining the Sberbank project. According to J'son & Partners Consulting, music streaming revenue in Russia increased in 2018 to 4.7 billion rubles: 3.2 billion came from paid subscribers, and 1.5 billion came from advertising revenue. The total number of paid subscribers of music services in the country reached 5.3 million people.