Petteri Pyyny
12 May 2004 13:23
Sony has licensed its music catalog to British online music service Wippit. The deal is already third major record label contract for small British online music company as the company has signed similar deals with BMG and EMI earlier this year.
The deal covers distribution rights in Ireland and the UK for now. Sony has already licensed its content to various other European music services, including the British OD2, and indicates that record labels are willing to bet on Europe's online music growth which is expected to grow rapidly once Roxio's Napster and Apple's iTunes enter into the continent's market.
Source: Reuters via Forbes