This deal will change everything for the music business in Russia

In recent months Russia’s once sin-binned social network, vKontakte, has inked licensing deals with Warner Music Group and Sony Music Entertainment, in part to power a new mobile subscription streaming app.

Today, bringing to a close a two-year lawsuit against VK, Universal has announced that it’s done the same. The major has reached a settlement with VK parent Mail.ru and licensed its social media platforms – VK, Odnoklassniki and My World – for future use of video and audio content from UMG artists like Taylor Swift.

Source: This deal will change everything for the music business in Russia – Music Business Worldwide

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