Petteri Pyyny
9 May 2004 14:29
MTV, the world's most popular music TV channel, is expected to partner with MusicNet to provide an online music service later this year.
MTV and its parent company Viacom have previously expressed their desire to enter the online music business, but haven't done so yet. Now, as the business is booming due the success of Apple's iTunes, it seems that MTV -- just like virtually everybody else in the online world -- is ready to capitalize their strong brand in online music market.
MusicNet acts as a business service provider for various online music stores and the company itself is owned by three major record labels and RealNetworks. Its customers include AOL, Real itself and Virgin.
Source: Reuters