16.10.2007 14:39:00
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CORRECTING and REPLACING MySpace and SONY BMG MUSIC ENTERTAINMENT Sign New Licensing Pact
Please note corrected spelling of Tori Amos' name in sixth graph of
release.
The corrected release reads:
MYSPACE AND SONY BMG MUSIC ENTERTAINMENT SIGN NEW LICENSING PACT
MySpace, the world’s most popular social
network, announced today it has signed a new licensing agreement
with SONY BMG MUSIC ENTERTAINMENT to enable MySpace's 70 million U.S.
monthly active users to experience streaming music videos, as well as
select audio material and other content, from SONY BMG's artists. The
deal, which calls for MySpace and SONY BMG to share in sponsorship and
advertising revenues, underscores both organizations’ commitment
to building new business models that benefit artists and consumers alike.
"MySpace has always served as a powerful
promotional platform for music and we’re
pleased to work with SONY BMG to take it to the next level,”
said Chris DeWolfe, CEO and co-founder of MySpace. "We
look forward to working with SONY BMG and the rest of the music industry
to enable people to share their love of music with one another through
the next generation of MySpace music services.”
Under the terms of the deal, SONY BMG will license music videos, select
audio material, and other content from its extensive artist roster and
will make the content available on its artists’
MySpace profile pages. MySpace and Sony BMG will share in sponsorship
and advertising revenues generated from the music videos and profile
pages. Additionally, MySpace will work with SONY BMG to promote the
music company's artists throughout the site.
"We are happy to be working with MySpace as we continue to develop new
approaches to doing business online," commented Thomas Hesse, President,
Global Digital Business & U.S. Sales, SONY BMG MUSIC
ENTERTAINMENT. "This new effort is a great way to build new audiences
for our artists, bring value to fans, and offer exciting new
opportunities to advertisers. We look forward to working closely with
MySpace as we roll out this ambitious new project."
With more than 7 million bands, MySpace Music empowers artists and
labels to establish an interactive dialogue with their fan base by
creating profiles to connect with fans via mail and blogs, post tour
dates, upload music, virally share promotional widgets, and debut albums
to MySpace 110 million global users. MySpace provides access for fans to
the world’s most popular artists through a
number of offline events including the Secret Show intimate concert
series, The List concert productions, MySpace LIVE webcast events, and
Hey Play This … a by-request artist session
for MySpace users.
Each year MySpace features hundreds of highly anticipated content and
albums exclusives. For Sony BMG artists, MySpace has recently hosted
Secret Shows for bands such as Good Charlotte, Franz Ferdinand, Clipse,
Tenacious D, Ray LaMontagne, Yung Joc, and Slayer. Hey Play This …
events for labels acts have included Ben Folds and Velvet Revolver, and
music content exclusives have featured acts such as Bruce Springsteen
and Diddy as well as exclusive album premieres from Sean Kingston (first
artist to break one million streams in one day), Mark Ronson, Tori Amos,
Modest Mouse, and the Editors.
MySpace will continue to evolve its industry leading promotional music
platform by integrating new revenue models, features and partner
integrations.
Financial terms of the Sony BMG deal were not disclosed.
About SONY BMG MUSIC ENTERTAINMENT
SONY BMG MUSIC ENTERTAINMENT is a global recorded music joint venture
with a roster of current artists that includes a broad array of both
local artists and international superstars, as well as a vast catalog
that comprises some of the most important recordings in history. SONY
BMG MUSIC ENTERTAINMENT is 50% owned by Bertelsmann A.G. and 50% owned
by Sony Corporation of America.
About MySpace
MySpace, a unit of Fox Interactive Media Inc., is the premier lifestyle
portal for connecting with friends, discovering popular culture, and
making a positive impact on the world. By integrating web profiles,
blogs, instant messaging, e-mail, music streaming, music videos, photo
galleries, classified listings, events, groups, college communities, and
member forums, MySpace has created a connected community. As the first
ranked web domain in terms of page views(a), MySpace is the most
widely-used and highly regarded site of its kind and is committed to
providing the highest quality member experience. MySpace will continue
to innovate with new features that allow its members to express their
creativity and share their lives, both online and off. MySpace's
international network includes localized community sites in the United
States, France, Germany, Australia, Ireland, Spain, Italy, Mexico,
Switzerland, Austria, Canada, Netherlands, New Zealand, Japan, Sweden,
Latin America, Denmark, Norway, Finland and the United Kingdom. Fox
Interactive Media is a division of News Corp. (NYSE:NWS)(NYSE:NWS.A)(ASX:NWS)(ASX:NWSLV).
(a) Among the top 2000 domains comScore Media Metrix, August 2007. For
more information on comScore Networks, please go to http://www.comscore.com.
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