Indie download site eMusic 'up for sale'
Refuses to follow broken biz plan
Pioneering indie music download site eMusic will listen to acquisition offers, according to its chief executive.
"If an offer was made that created value for our shareholders, we'd listen to it," Danny Stein told the New York Post.
In its original dot.com incarnation, the site offered unlimited MP3 downloads. Since relaunch in 2003, it's insisted that all downloads are DRM-free, a stance that saw the major labels refuse to deal with it until last year.
The paper suggests eMusic wants to join the streaming bandwagon, but the logic is dubious. eMusic now turns over around $70m from around 400,000 subscribers, according to estimates, and it makes money. Meanwhile, Spotify is losing it so quickly it's had to put a block on new signups.
Trade in a working business for a broken one? You'd only want to do that if you wanted to get out. ®
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