NEW YORK (CelebrityAccess) — Personal cloud services company Tri-Play announced that they have acquired eMusic, the venerable music download service.
The deal will see eMusic combine its extensive music library of more than 25 millon tracks with TriPlay's cloud servce, allowing users to have online and offline access to their music collections.
The deal was concluded with a combination of cash and stock and TriPlay says they plan to retain eMusic's current employees and executives.
Founded in 1998, eMusic was an early entrant into the world of digital music, offering a subscription-based service that allows users to download both music and audiobooks in a DRM-free MP3 format. However, as the business model shifted from downloads to streaming, and become dominated by players such as Spotify, eMusic's star has faded. Their current subscription model has tiered offerings that allow users to download and own a set number of tracks per month.
"We are thrilled to join forces with this pioneer of the digital music industry to offer all our users the wide variety of music they love in a comprehensive, next-generation platform, complete with the features they want and need," said Tamir Koch, founder and CEO of TriPlay. "There is a lot more music in the world than what you find on the radio. Our broad catalog, global access and wide selection of features, are what the millions of eMusic and MyMusicCloud users are looking for. In the coming months, our users will begin to see significant enhancements as we introduce the complete music service they want, accessible anywhere, anytime and on any device." – Staff Writers