3GScottishUser
10th August 2006, 11:09 AM
Announcing plans to enter the digital music download business itself, handset maker, Nokia has announced it will acquire the company that powers ninemsn's music download business.
Loudeye, headquartered in Seattle, is a business to business focused media company that combines a services infrastructure with a broad catalogue of licensed digital music designed to help it customers launch digital media stores which then sell to the public.
There are about 130 people in the company, which also has offices in the UK and Europe. Loudeye revenues for 2005 were US $20.3 million.
Loudeye operates 60 live services in over 20 countries and multiple languages across Europe and South Africa, Australia and New Zealand. In Australia it powers the music download service of Publishing and Broadcasting Ltd (Packer) and Microsoft joint venture, ninemsn.
The US$60 million acquisition agreement will see Nokia take a music offering direct to consumers. However, it is not clear whether this will impact ninemsn's relationship with the company.
Nokia plans to offer "a comprehensive mobile music experience, including devices, applications and the ability to purchase digital music", according to a company statement.
The move will most likely also upset carrier partners, particularly 3G carriers like Vodafone of Hutchison's 3, which have pinned at least part of their revenue hopes on music phone downloads, Nokia looks ready to cut them out of the action.
Nokia sold more than 15 million music enabled devices in the 2nd quarter this year,
"Music is a key experience for Nokia and Nokia Nseries multimedia computers and we want to be able to offer the best fully integrated mobile music experience to our customers. Loudeye brings a number of key assets to Nokia, including a great team of people, a substantial content catalogue and a robust service platform that will help us to achieve this objective," said Anssi Vanjoki, executive vice president and general manager, Multimedia, Nokia.
"This agreement recognizes the key roles that Loudeye and our people play in the digital mobile music market, and reflects the power of our products, our team and our technology," said Michael Brochu, president and chief executive officer of Loudeye.
Nokia plans to kick off its own offering during 2007.
http://www.mobilised.com.au/content/view/521/78/
Loudeye, headquartered in Seattle, is a business to business focused media company that combines a services infrastructure with a broad catalogue of licensed digital music designed to help it customers launch digital media stores which then sell to the public.
There are about 130 people in the company, which also has offices in the UK and Europe. Loudeye revenues for 2005 were US $20.3 million.
Loudeye operates 60 live services in over 20 countries and multiple languages across Europe and South Africa, Australia and New Zealand. In Australia it powers the music download service of Publishing and Broadcasting Ltd (Packer) and Microsoft joint venture, ninemsn.
The US$60 million acquisition agreement will see Nokia take a music offering direct to consumers. However, it is not clear whether this will impact ninemsn's relationship with the company.
Nokia plans to offer "a comprehensive mobile music experience, including devices, applications and the ability to purchase digital music", according to a company statement.
The move will most likely also upset carrier partners, particularly 3G carriers like Vodafone of Hutchison's 3, which have pinned at least part of their revenue hopes on music phone downloads, Nokia looks ready to cut them out of the action.
Nokia sold more than 15 million music enabled devices in the 2nd quarter this year,
"Music is a key experience for Nokia and Nokia Nseries multimedia computers and we want to be able to offer the best fully integrated mobile music experience to our customers. Loudeye brings a number of key assets to Nokia, including a great team of people, a substantial content catalogue and a robust service platform that will help us to achieve this objective," said Anssi Vanjoki, executive vice president and general manager, Multimedia, Nokia.
"This agreement recognizes the key roles that Loudeye and our people play in the digital mobile music market, and reflects the power of our products, our team and our technology," said Michael Brochu, president and chief executive officer of Loudeye.
Nokia plans to kick off its own offering during 2007.
http://www.mobilised.com.au/content/view/521/78/