Online music industry getting more crowded thanks to Deezer and Sky Songs
Pretty soon you won’t be able to throw a rock without hitting an online music store of some type.
It seems that everyone wants their own little slice of the online music business, and the field is not only crowded with new competitors, but also investors trying to throw money at it.
Deezer, a French site that has been likened to the popular Spotify, announced this morning that it has raised another €6.5 million (approx. $9.6 million USD) in Series B funding, bringing its total funds to €12.2 million (approx. $18 million USD) since it launched in August 2007. With 10 million users in Europe, 6 million of those in France alone, it is considered the most popular music site in Europe, but if it will ever be available anywhere else is unclear at this time.
Part of this new round of funding by AGF Private Equity and CM-CIC Capital Prive may be due to rumors being reported by TechCrunch Europe that Deezer is about to unveil a €9.99 (approx. $14.75 USD) premium plan. This is also a similar price to the one being charged by Spotify, so which company is seen as the biggest competition is pretty obvious.
Meanwhile, not to be outdone, a new music site is about to launch in England according to The Daily Telegraph. British Sky Broadcasting, more commonly known as BSKYB, is set to launch Sky Songs, a subscription-based that they company hopes will be a direct competitor to Apple’s iTunes Store. The site will not offer an advertising-based listening choice, and instead will go with a subscription model that allows unlimited streaming of music.
The online music industry seems to be becoming a very crowded place, and some fallout is sure to be expected from sites closing or being purchased by the competition. Whatever does happen, it does seem safe to say that legal online music is here to stay, and the easier it gets to listen to, the more you’ll see online piracy drop. Who needs to pirate a song when you can stream it any time you want for a nominal fee?
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March 10th, 2011
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