Mashboxx pulls off Sony BMG deal
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Posted in Financial News, 29th June 2005 14:16 GMT
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P2P music outfit Mashboxx has struck a licensing deal with Sony BMG Music Entertainment as it gears up for the launch of its “legal” file sharing service.
Mashboxx, like a number of other up and coming firms, attempts to exploit the file sharing phenomenon by offering file sharers the opportunity to buy legal, DRM protected versions of tracks they are trying to download. It will charge 99 cents for Sony BMG tracks. Tracks can be searched for and “traded” on the major existing file sharing networks.
The company claims it is the first desktop filesharing app to gain major record company backing, and said deals are currently being negotiated with other labels. While Mashboxx began recruiting beta testers for its service at the beginning of May, it has yet to launch its beta testing program.
Mashboxx leverages Snocap’s tracking technology. So far, Snocap has gained the backing of Sony BMG, EMI and Universal, as well as a slew of independents.
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