That decline is larger than the multichannel retailer’s overall 5.8% sales decline.
FullAudio, a web-based provider of music downloading, has acquired sound recording rights from BMG, adding that major label to rights it already has from EMI Recorded Music, Universal Music Group and Warner Music Group.
FullAudio Corp., a web-based provider of music downloading, has reached a licensing agreement with BMG to include BMG`s catalog of recordings in its digital music subscription service. With the agreement, FullAudio has music deals with four of the five major labels. FullAudio now has sound recording rights from EMI Recorded Music, Universal Music Group, Warner Music Group and BMG.
FullAudio also has obtained publishing rights from Universal Music Publishing, EMI Music Publishing, BMG Music Publishing, Sony Music Publishing, and the Harry Fox Agency. FullAudio says both sets of rights are required to appropriately compensate the performers and songwriters represented in FullAudio`s catalog of digital music.
"Every new license that FullAudio signs brings us closer to our goal to offer music from the most sought-after artists and labels, so we are very excited about our new relationship with BMG," said Chris Gladwin, chairman and CEO of FullAudio. "FullAudio is committed to building an affordable, viable alternative to pirated services and a uniquely rich and easy-to-use online music experience to our subscribers."
In April 2002, FullAudio launched an on-demand, music subscription service called MusicNow with distribution partner Clear Channel Communications, the largest radio station owner in the U.S. FullAudio provides a platform and infrastructure that enables distribution partners, such as radio stations, to deliver digital media services, such as digital sampling, radio, streaming, and music downloads. FullAudio provides all of the back-office functionality, including billing, reporting and analysis, and usage analysis.