-Universal may withdraw catalogue from Deezer platform

Internet Business News
06-10-2011
-Universal may withdraw catalogue from Deezer platform

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

10 June 2011 - Record label Universal Music may withdraw its catalogue from the platform of French online music streaming specialist Deezer as their contract expired in January and they have not managed to reach an agreement on a two-year extension.
Universal Music reportedly accuses Deezer of trying to impede the development of its rivals, such as Spotify. Hence, for the past six months, Deezer has been offering Universal's catalogue without any contract.

Deezer reportedly closed 2010 with a revenue of EUR7m. Meanwhile it paid EUR4m for copyrights and other intellectual property rights.

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(Copyright M2 Communications, 2011)