WMG And Sony BMG Part Of Digital Access Launch In Russia
June 28, 2007 at 5:35 AM (PT)
Two of the world's biggest music giants and two Russian record labels launched a wholesale digital distribution platform in RUSSIA on THURSDAY, a market dominated by piracy across the entire entertainment industry.
REUTERS reports WARNER MUSIC and SONY BMG said they had formed a new business called DIGITAL ACCESS with RUSSIAN industrial group, ACCESS INDUSTRIES and music labels SOYUZ and NIKITIN RECORDS.
The new MOSCOW-based platform will distribute music, full-track audio downloads, ringtones, video clips and color images into both RUSSIA and the COMMONWEALTH OF INDEPENDENT STATES, a grouping of 12 ex-Soviet states. DIGITAL ACCESS is expected to officially start trading during the fourth quarter.
"This is a strategic investment that we believe will play a pivotal role in unlocking the potential of the dynamic RUSSIAN music market," said WARNER MUSIC INTERNATIONAL Chairman/CEO PATRICK VIEN.