(CelebrityAccess MediaWire) —
eMusic, the world's No. 2 digital download service, selling more than two million tracks monthly, says its paying subscriber base now exceeds 100,000.
eMusic elevated David Pakman, formerly COO, to president and CEO. Danny Stein, president of JDS Capital, the owner of eMusic, will assume the role of chairman and will continue to be engaged in the company. Pakman remains a managing director of Dimensional Associates, the private equity arm of JDS Capital that also owns eMusicLive, The Orchard and Dimensional Music Publishing.
Since Dimensional Associates acquired eMusic in late 2003, the service has risen from relative obscurity to become the No. 2 digital music service — second only to iTunes — in the number of downloads it sells each month. "David is the ideal executive to lead eMusic to 1 million subscribers and beyond," said Stein. "His commitment to the music community eMusic represents is unwavering. David will continue to build on eMusic's momentum to serve our customers and label partners while introducing eMusic's subscribers to high quality music in the eMusic way."
"eMusic has proven that there is a meaningful market segment of customers seeking music beyond the commercial mainstream," said Pakman. "The other major services have built excellent search engines for music-they work very well if you know exactly what you want. eMusic is built around the promise and potential of discovering quality music of many different flavors. We provide true context, meaningful interpretation and guidance and trusted recommendations from human experts across a broad selection of genres. Our approach is to introduce customers to a wide range of music; ultimately this approach fosters industry growth, not simply the replacement of existing physical sales." –Bob Grossweiner and Jane Cohen