MUSICNET LICENSES UNIVERSAL MUSIC GROUP CATALOG
NEW YORK - November 18, 2002 - MusicNet, a leading digital music company, and Universal Music Group (UMG), the world's largest music company, announced today a non-exclusive licensing agreement that will add UMG's digital music library to the MusicNet service. Under terms of the agreement, UMG will deliver its online catalog of titles to MusicNet to be incorporated into the service. The titles will be offered to consumers through MusicNet's distribution partners, which now include AOL and RealNetworks.
"The license from UMG will bolster MusicNet's catalog and help us meet our goal of offering the widest possible selection of music to consumers," said Alan McGlade, CEO of MusicNet. "UMG's catalog includes some of the world's best known artists and we're thrilled to be offering this music to consumers through our distribution partners."
"Legitimate online music consumption is about to explode," said Larry Kenswil, President, eLabs, Universal Music Group. "UMG is supporting as many legitimate online music services as possible."
Music fans will be able to access tracks from artists such as Diana Krall, Eminem, Enrique Iglesias, Lee Ann Womack, Nelly, Sheryl Crow, among others through MusicNet. UMG's online catalog of music will available through AOL by the end of the year.
About Universal Music Group
Universal Music Group is the world's leading music company with wholly-owned record operations or licensees in 63 countries. Its businesses also include Universal Music Publishing Group, one of the industry's largest global music publishing operations.
Universal Music Group consists of record labels Decca Record Company, Deutsche Grammophon, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, MCA Nashville, MCA Records, Mercury Records, Motown Records, Philips, Polydor, Universal Music Latino, Universal Records, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry, which is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Strategic Marketing and Commercial Affairs (outside the U.S.). Universal Music Group also includes eLabs, a new media and technology division.
Universal Music Group is a unit of Vivendi Universal, a global media and communications company.
MusicNet is a leading digital music company. The most widely distributed digital music service for streaming, downloading and burning music online, MusicNet offers the music catalogs of major and independent record labels - including Warner Music Group, BMG Entertainment, EMI Recorded Music, Sony Music Entertainment, Universal Music Group, Zomba, Rimoteca, Brentwood Music and Sanctuary. As both a service and music content provider, MusicNet licenses to companies seeking to fully integrate digital music services into their online music offerings. MusicNet is a joint venture between RealNetworks, AOL Time Warner, Bertelsmann AG, EMI Recorded Music and Zomba.