Muze acquires Loudeye’s U.S. digital media operations for $11 million
Muze Inc., which provides retailers with information on music and other forms of digital content, is expanding into digital content e-commerce with its $11 million acquisition of the U.S.-based operations of Loudeye Corp., the two companies said yesterday.
Muze has assumed Loudeye’s web and mobile digital music commerce services operating on Loudeye’s U.S.-based platform, which supports digital downloads as well as music subscription services. Customers of the services include Cingular mMode MusicStore at MusicStore.mymmode.com, and BurnLounge.com, a digital music marketplace for multiple sellers.
The acquisition includes Loudeye’s Seattle-based digital media store services and online radio commerce applications, plus the rights to a catalog of music tracks published by four major music labels as well as numerous independent labels and aggregators, Muze said. “Muze clients now have access to digital music and radio as well as full-integrated or standalone e-commerce solutions,” the company said. “These services offer retailers a branded digital music experience with rapid deployment.”
Muze clients include Yahoo, eBay, Tower Records, Best Buy, Overstock, PriceGrabber and Amazon.com.
Loudeye said the Muze deal, which closed April 30 and represents less than 2% of Loudeye’s total revenue, will free it up to focus on its global digital content markets. “We are focused on achieving significant growth in our digital media store services globally,” said Loudeye president and CEO Mike Brochu. “The market for digital music downloads, including mobile, is expanding at a fast pace, and we are well positioned in key markets to capitalize on this growth."
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