Tuesday, February 7, 2023
HomeDigit NewsVK may buy digital music distribution platform Multiza, which has agreements with...

VK may buy digital music distribution platform Multiza, which has agreements with Western streaming services

According to Kommersant citing its own sources in the digital music distribution market, VK is negotiating the purchase of a platform for digital music distribution and content management Multiza.

According to the publication, they want to combine this platform with the VK United Media Agency (UMA), which is engaged in the placement of musical compositions in VK Music, VKontakte and Odnoklassniki.

After Western distributors and music rights holders left the Russian market, VK holding decided to take advantage of the situation and find a service with ready-made software and contracts with Western streaming services, since UMA can only upload music to VK platforms.

Previously, the holding was negotiating the purchase of the First Music Publishing House, but they did not lead to anything, since the parties could not agree on a price that would suit everyone. Negotiations with Multiza are at the stage of a technical assessment of the company, at the moment the possibility of integrating the Multiza software into the VK infrastructure is being studied.

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Multiza has contracts with Russian and foreign streaming services, including VK Music, Yandex.Music, Sound, Apple Music, Spotify, Shazam, YouTube Music. The company has the rights to more than 100 thousand Russian-language albums.

Multiza has offices in Canada and Dubai, which allows it to make payments on foreign platforms from the monetization of music by Russian artists.

One of Kommersant’s sources said that the appearance of a new player is a positive signal: “Russian music is quite in demand on foreign streaming sites, and placement on foreign services gives Russian artists additional income.”

Yesterday we reportedthat VK became the new owner of the Medium Quality company of the creative producer of Comedy Club Production Vyacheslav Dusmukhametov.

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