Petteri Pyyny
14 Apr 2004 13:46
Loudeye, a long-time digital music company, has set up a new service called IndieSource that basically acts as a middle-man between indie record labels and online music stores, such as íTunes. The demand is clear -- quarter of American music sales are for indie labels' artists and currently all of the online music stores have focused their attention to five major record labels, mostly ignoring the niche players. Already several indie labels have signed up to Loudeye's service and company seems to be optimistic about its outlook.
To ensure its position in upcoming global wave of online music services (iTunes and other services are mostly available to U.S. only), Loudeye also signed a contract with Indian company called Saregama that represents over half of India's recorded music. Under the terms of contract, Loudeye has rights to distribute Saregama's music to online music stores around the world.
Source: News.com