A new CEO takes over at eMusic as it surpasses 100,000 subscribers
EMusic, a digital download service, is whistling a happy web tune. The company, a download service featuring the music of independent artists and recording labels, now has more than 100,000 paid subscribers.
To lead the company, eMusic is also promoting David Pakman, its chief operations officer, to president and CEO. Danny Stein, president of JDS Capital, the owner of eMusic, will assume the role of chairman. "David is the ideal executive to lead eMusic to 1 million subscribers and beyond," says Stein.
EMusic delivers more than 2 million downloads each month from a catalog of 700,000 tracks from established and emerging artists at independent recording labels.
To differentiate itself in the music download business, eMusic allows its members to burn CDs, transfer files to MP3 devices and make multiple copies for personal use. Subscription plans start at $9.99 per month for 40 downloads.
"EMusic has proven that there is a meaningful market segment of customers seeking music beyond the commercial mainstream," says Pakman.
Based in New York, eMusic is wholly owned by Dimensional Associates Inc., the private equity arm of JDS Capital Management Inc.
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