(CelebrityAccess MediaWire) —
SNOCAP and Warner Music Group have reached an agreement to allow the authorized distribution of WMG's music across SNOCAP-enabled retail services. SNOCAP has now allied with all four of the world's largest record companies. This marks a major step forward for the music industry in its ongoing commitment to provide consumers with a deeper, more compelling digital music experience.
"Thanks to Warner's commitment and belief in our vision, we're thrilled to have all four major record labels on board to validate SNOCAP's visionary plan to move the digital music business to the next level," said Rusty Rueff, SNOCAP CEO. "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."
"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. "We believe in the power of peer-to-peer technology, and we're glad to see it join our arsenal of other digital platforms that, going forward, will enable Warner Music Group to continue to grow opportunities for artists to reach music fans in multiple ways."
"With WMG as an ally, our vision for expanding the digital music marketplace just got one giant step closer to reality," said Shawn Fanning, SNOCAP's founder. "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."
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. –Bob Grossweiner and Jane Cohen
