Petteri Pyyny
22 Sep 2000 20:40
LoudEye, a company dedicated to convert audio and video to Internet formats, announced that it has made a deal with Universal Music Group for creating 60sec music preview clips of their content.
Preview clips are then licensed to third parties who want to start online webradios, subscription models, etc and giving them an ability to offer huge amount of music samples.
Financial terms weren't disclosed. LoudEye says that they have 150TB server waiting for audio and video content to fill it up.