UNIVERSAL MUSIC GROUP JOINS WITH MYSPACE.COM FOR VIDEO-On-DEMAND (VOD)
February 3, 2006 - Universal Music Group (UMG), the world’s leading music company, and MySpace.com, the leading lifestyle and social networking portal, today announced an agreement to offer access to thousands of music videos from many of the world’s most popular recording artists for on-demand streaming via MySpace.com.
This new agreement brings together such chart-topping artists as U2, 50 Cent, Eminem, the Killers, Ashlee Simpson, Beck, Shania Twain, Jay Z, Jack Johnson, Toby Keith and Juanes, with MySpace's extensive web community. Launched two years ago, MySpace.com is the second ranked web domain in terms of page views according to comScore Media Metrix. The website integrates web profiles, blogs, instant messaging, e-mail, music downloads, photo galleries, classified listings, events, groups, chat rooms, user forums and now, music videos.
"We are delighted to be working closely with MySpace in combining the creative resources of our two companies to offer the very best in music videos," stated Larry Kenswil, President of Universal Music Group's eLabs, the company's new media and technology division. "It's clear that there is huge consumer demand for video-on-demand products, and it is our policy to deliver our artists’ videos and music to fans in as many new and innovative ways as possible. As such, Universal is uniquely positioned to capitalize on the many new opportunities emerging in this rapidly growing area of the marketplace."
Universal Music Group has been at the forefront in recognizing the potential new revenue stream provided by video-on-demand. The company became the first in securing video-on-demand agreements through deals with Yahoo, AOL and MSN. UMG has also completed a record number of video deals so far this year, having secured agreements with many of the internet’s most trafficked music websites, including Apple's iTunes, American Music Channel, Artist Direct, Clear Channel "Stripped," CMC Online Networks, GoFish, ManiaTV, MP3.com, Music Video Net, Napster, Planeta Networks, Sony Pictures Digital, TeenMusic/Teen Hollywood and Urban Media Group, among dozens of others.
About Universal Music Group
Universal Music Group is the world’s largest music company with wholly owned record operations or licensees in 77 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 Music Group, Deutsche Grammophon, Interscope Geffen A&M Records, Geffen Records, Island Def Jam Music Group, Lost Highway Records, Machete Music, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor Records, Universal Music Latino, Universal Motown Records Group, 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 Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes eLabs, a new media and technologies division, and Universal Music Mobile.
Universal Music Group is a unit of Vivendi Universal, a global media and communications company.
MySpace.com is the premier lifestyle portal for connecting on and offline. By integrating web profiles, blogs, instant messaging, e-mail, music streaming, music videos, photo galleries, classified listings, events, groups, college communities and user forums, MySpace has created a connected community. As the second ranked web domain in terms of page views*, MySpace.com is the most widely-used and highly regarded site of its kind. With more than 50 million members, MySpace is committed to providing the highest quality user experience and will continue to innovate with new features that allow its users to express their creativity and share their lives, both online and off.