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EMI Music Enters Into Agreement With Snocap To Drive Expansion Of Legitimate Digital Music Market
SNOCAP, the first end-to-end provider of digital licensing and copyright management services for the digital music marketplace and EMI Music, the world's largest independent music company, announced that they have signed an agreement for SNOCAP to provide identification and copyright management technologies, as well as database services, that will drive new revenue streams for the legitimate peer-to-peer online distribution of EMI's prestigious catalog of recorded music. "This deal with Snocap underscores EMI's commitment to developing legitimate ways to deliver our music in more ways to more fans, including peer-to-peer distribution models that ensure creators are compensated for their works," said David Munns, Chairman and CEO EMI Music North America. "This sends a signal to music industry critics who claim we are technophobic. If anything, we are embracing technologies like SNOCAP, which allow the P2P community to share music legally. It's a big step forward for fans, artists and copyright owners." "We're pleased to join with EMI to bring an unprecedented selection of digital music to people around the world through peer-to-peer platforms and other online retailers," said Shawn Fanning, Chief Strategy Officer of SNOCAP. "EMI understands the role that innovation can play in taking the digital music market to the next level and we look forward to working with them to bring consumers the full breadth of content we know that they're looking for and an expanded choice in distribution models." EMI will immediately begin delivering and registering its content with SNOCAP so that their content can be made available via online retailers and P2P network operators. Financial terms of the deal were not disclosed.
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