Sony Music Entertainment and IODA Partner to Create Leading Digital Distribution and Services Network for Independent Rights Holders
Sony Corporation of America - 07/01/2009
Sony Music Entertainment (SME) today announced that it has entered into a global partnership with IODA to create a new leading distribution and services network for independent rights holders. As part of the partnership, Sony Music has made a strategic investment in IODA, a leader in digital distribution, marketing, and technology solutions for the independent music industry. Additional terms of the deal were not disclosed.
This agreement underscores Sony Music's commitment to expanding its service capabilities to the independent label community. With its independent distribution subsidiary RED, Sony Music currently provides award winning sales and marketing services to independent labels and artists. IODA now brings its proven digital distribution platform for the independent sector into the Sony Music network. With distinct areas of expertise and market focus, RED and IODA will build on their complementary technologies and increase the scope of sales and promotional opportunities that each currently offers its existing and growing customer base worldwide. Both companies will also leverage the global marketing and financial strength of Sony Music to continue expanding their businesses and providing best in class service.
"Sony Music is committed to offering independent labels and distributors the most compelling package of distribution services in the industry," said Thomas Hesse, President, Global Digital Business, U.S. Sales and Corporate Strategy, Sony Music Entertainment. "IODA has proven it has the expertise and ability to lead the independent market with groundbreaking digital solutions. We look forward to collaborating with Kevin and his team on this strategic partnership to develop new and innovative ways to help our respective clients grow their businesses."
In just six years, IODA has emerged as a leader in digital distribution for the independent music and video community. With a catalog of almost two million tracks from thousands of labels from over 50 countries, IODA represents a diverse catalog of music spanning all styles, including rock, electronic, hip-hop, metal, punk, indie, world, latin, jazz and classical. IODA's robust systems for managing the technical complexities of digital distribution and marketing continue to set the standard for the way independent rights holders do business in the digital age.
"Sony really impressed us with their respect for, and understanding of the needs of the independent community," said Kevin Arnold, Founder and CEO of IODA. "We remain, as we always have, fully dedicated to helping independent content owners succeed in the digital world. This alliance will greatly enhance IODA's ability to continue delivering effective solutions for Independents."
IODA, the Independent Online Distribution Alliance, is the industry-leading digital distribution company for the global independent music community. IODA provides comprehensive services to record labels, physical distributors, and artists, including license negotiations; media encoding and metadata management; and royalty payment administration and reporting. The company also offers promotional support through a dedicated marketing division and through IODA Promonet (www.iodapromonet.com). A promotional distribution network, IODA Promonet provides qualified podcasts, blogs, and other music sites with access to pre-cleared, legal music and other promotional assets from IODA's labels. Founded in 2003, IODA represents a rapidly expanding roster of nearly two million tracks that is licensed to more than 400 digital storefronts worldwide. IODA also distributes independent film and video content for over 2000 titles. IODA's retail partner network includes all major digital music services like iTunes®, Amazon MP3 and MySpace Music and mobile carriers and outlets such as Verizon Wireless, Sprint and Nokia. The company's website is www.iodalliance.com.
About Sony Music Entertainment
Sony Music Entertainment is a global recorded music company with a roster of current artists that includes a broad array of both local artists and international superstars. The company boasts a vast catalog that comprises some of the most important recordings in history. It is home to premier record labels representing music from every genre, including American Recordings, Arista Nashville, Arista Records, Aware, Battery Records, Beach Street Records, Black Seal, BNA Records, Cinematic, Columbia Nashville, Columbia Records, Epic Records, Essential Records, Flicker Records, Fo-Yo Soul, GospoCentric, Hitz Committee Entertainment, J Records, Jive Records, LaFace Records, Legacy Recordings, Masterworks, Polo Grounds, RCA Records, RCA Nashville, RCA Red Seal, RCA Victor, Reunion Records, Slightly Dangerous, Sony Classical, Sony Music Latin, Star Time International, Verity Records, and Volcano Entertainment. Sony Music Entertainment is a wholly owned subsidiary of Sony Corporation of America. For more information, visit www.sonymusic.com
First Call Analyst:
SOURCE: Sony Music Entertainment
CONTACT: Brian Garrity, Sony Music Entertainment, +1-212-833-5891;
Heather Staples, IODA, +1-415-789-5550, email@example.com
Web Site: http://www.sonymusic.com/