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Business News (more headlines) 02-03-2013

WiMP Expands Cooperation With Telenor

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Music Service WiMP has signed a new distribution agreement with Telenor. in Norway WiMP already has an agreement with Telenor and Telenor-owned Canal Digital, where approximately 700,000 customers get WiMP included in their TV subscription. The new agreement will also include bundle with specific data packages by Telenor and also makes Telenor a reseller of WiMP.

The agreement will generate revenues for WiMP of minimum NOK 28 million over the next two years.

"We already have a close relationship with Telenor and now we expand in a way that will bring music and WiMP out to an even wider audience across Norway. This is an agreement that has great importance for establishing streaming into the public domain and ensure even more revenue to the music industry", says Per Einar Dybvik, general manager of WiMP Norway.

WiMP launched in Norway in February 2010 and concluded in early 2011 its agreement with Canal Digital. User numbers has grown steadily since, and WiMP now expects further growth in Norway via the new agreement.

"In addition to the agreement with Telenor, we're also doing a large collaboration with by:Larm in the first quarter. WiMP also focus on a strong individual editorial team working to show what happens in the local and international music scene, something we are going to be even better at this year. We see that many users choose us over competitors precisely because of this", says Dybvik.

WiMP has licensed over 20 million tracks and had by third quarter 2012 approximately 350,000 paying users in all countries. The service is available in Norway, Sweden, Denmark, Germany, Poland and the Netherlands under a different brand.

WiMP is headquartered in Oslo, but owned by Aspiro AB, listed in Sweden. Largest shareholders in Aspiro by around 75%, are the Norwegian trio Schibsted, Platekompaniet and Ferd Capital, while a number of minority shareholders, mainly Swedish, holds the remaining 25%.

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