Sony BMG And Dada Launch New Venture
July 16, 2007 at 5:44 AM (PT)
SONY BMG MUSIC ENTERTAINMENT and DADA, a provider of web and mobile community and entertainment services, have formed a U.S. joint venture to be known as DADA ENTERTAINMENT LLC. The mission of the joint venture is to create a direct-to-consumer entertainment service with integrated mobile and web offerings. The venture's products will be marketed through the web and through mobile off-deck and on-deck distribution channels. DADA ENTERTAINMENT will be 50% owned by DADA USA and 50% owned by SONY BMG MUSIC ENTERTAINMENT.
The new company will be led by the current CEO of DADA USA INC., MASSIMILIANO PELLEGRINI, who will serve as the joint venture's CEO.
"This joint venture will provide us with an important platform to further expand artists' presence in the mobile and web space, give consumers greater flexibility in how they consume music, and build the market for mobile and web entertainment in the U.S.," commented SONY BMG MUSIC ENTERTAINMENT Pres./Global Digital Business & U.S. Sales THOMAS HESSE. "We look forward to working closely with DADA as we set new standards of excellence in off deck and on deck mobile services, providing the highest-quality content, innovative new products, and the best possible levels of customer service."