Musicbank ceases operations

Written by Petteri Pyyny @ 12 Apr 2001 4:02

Yet another failure in digital music business. Musicbank has ceased their operations after failing to find financing in current dotcom situation.

Musicbank offered a "locker" service where users could store their music in digital format -- pretty similiar what My.MP3.com is.

Musicbank's investors included Bertelsmann and UMG. Company also had licensing deals with Warner, EMI and Sony.

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