Sony Music Entertainment invests in IODA
July 2nd, 2009 Leave a comment Visited 55 times, 1 so far today
Sony Music Entertainment invests in IODA
Sony has announced that their subsidiary Sony Music Entertainment has made an investment in the digital distributor of independent music IODA.
Sony added that this investment is purely strategic in nature as they aim to tap into the growing popularity of indie music and artists.
Sony said: “IODA is a natural extension of our indie strategy. As entrepreneurs, we think this is a business we’d like to grow and expand and as a result we took an investment.”
The two groups did not reveal the financial aspects of the deal.
IODA is pretty big in its market and has nearly two million songs in its catalogue. These songs have been licensed to around 400 digital media stores worldwide.
Checkout: IODA
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