AfterDawn: Tech news

Sony invests in MusicNet

Written by Jari Ketola @ 02 Mar 2003 14:28

Sony invests in MusicNet The on-line music scene keeps getting more and more complex every day. Just recently RealNetworks, the founding member of the MusicNet, invested in competing Listen.com's Rhapsody -service. Now Sony is rumoured to have provided funding to MusicNet, which competes with their own service, Pressplay.
So Real has a share of MusicNet and Rhapsody, and Sony has an influence in Pressplay and MusicNet, of which AOL Time Warner, Bertelsmann, and EMI Group also own a share of. In November last year Sony licensed content to MusicNet.

The reasons behind these actions are quite clear. Since the on-line downloadable music business is still relatively small, the labels are trying to scrape up profits from wherever they can. The only way to make sure you won't fall behind of your competitors is to be part of every service around.

Source:
News.com

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