Sony BMG And MySpace Sign Licensing Agreement

October 16, 2007

MySpace and Sony BMG announce a new licensing agreement allowing for music videos, songs and other content from Sony BMG artists on the social networking giant. The deal also allows the label and MySpace to share in sponsorship and ad revenue.

"MySpace has always served as a powerful promotional platform for music and we’re pleased to work with Sony BMG to take it to the next level," said MySpace CEO/co-founder Chris DeWolfe. "We look forward to working with Sony BMG and the rest of the music industry to enable people to share their love of music with one another through the next generation of MySpace music services."

"We are happy to be working with MySpace as we continue to develop new approaches to doing business online," commented Thomas Hesse, President of Global Digital Business & U.S. Sales for Sony BMG Music Entertainment. "This new effort is a great way to build new audiences for our artists, bring value to fans, and offer exciting new opportunities to advertisers. We look forward to working closely with MySpace as we roll out this ambitious new project."

Source: FMQB.com