New Napster Signs 4th Music Deal
Snocap, the digital media company founded by former Napster pioneer Shawn Fanning inked a deal with Warner Music Group Corp. one of the world’s largest record companies, to allow the authorized distribution of WMG’s music across Snocap-enabled retail services. The deal with Warner means that snocap has now allied with all four of the world’s largest record companies, including EMI Plc., Sony BMG, and Universal Music.
Snocap says the agreement marks a major step forward for the music industry in its ongoing commitment to provide consumers with a deeper, more compelling digital music experience.
“Warner understands the value SNOCAP provides to rights holders, peer-to-peer services and consumers alike. We look forward to working with them and the rest of the recording industry to help drive the expansion of the online music marketplace,” said Snocap CEO Rusty Rueff.
Napster, which faced a world of legal troubles after the peer-to-peer network gain huge popularity, facing pressure from music industry artists like Metallica. The quartet of deals with major music labels is aimed at avoiding those same legal disputes.
“We support Snocap’s innovative approach to enabling services that offer consumers all the benefits of the peer-to-peer experience with the comfort of knowing that they can enjoy it in a legal and trusted environment,” said Alex Zubillaga, Executive Vice President, Digital Strategy and Business Development for WMG.
Fanning hopes the arrangement will help independent artists and lesser known musicians to reach notoriety.
“With the music of all four majors and our ongoing effort to add indies and individual artists, we can turn our full attention on helping new services reach consumers with the depth and breadth of content that they don’t have legitimate access to now,” said Fanning.
As part of the agreement, WMG will deliver and register its music with Snocap, giving Snocap-enabled retailers the opportunity to offer WMG’s music to consumers.
Financial terms of the deal were not disclosed.