Partnership to Leverage Combined Global Online Retail Distribution Network And Complementary Technologies
New York, New York — July 1, 2009 — Sony Music Entertainment (SME) today announced that it has entered into a global partnership with IODA to create a new leading distribution and services network for independent rights holders. As part of the partnership, Sony Music has made a strategic investment in IODA, a leader in digital distribution, marketing, and technology solutions for the independent music industry. Additional terms of the deal were not disclosed.
This agreement underscores Sony Music’s commitment to expanding its service capabilities to the independent label community. With its independent distribution subsidiary RED, Sony Music currently provides award winning sales and marketing services to independent labels and artists. IODA now brings its proven digital distribution platform for the independent sector into the Sony Music network. With distinct areas of expertise and market focus, RED and IODA will build on their complementary technologies and increase the scope of sales and promotional opportunities that each currently offers its existing and growing customer base worldwide. Both companies will also leverage the global marketing and financial strength of Sony Music to continue expanding their businesses and providing best in class service.
“Sony Music is committed to offering independent labels and distributors the most compelling package of distribution services in the industry,” said Thomas Hesse, President, Global Digital Business, U.S. Sales and Corporate Strategy, Sony Music Entertainment. “IODA has proven it has the expertise and ability to lead the independent market with groundbreaking digital solutions. We look forward to collaborating with Kevin and his team on this strategic partnership to develop new and innovative ways to help our respective clients grow their businesses.”
In just six years, IODA has emerged as a leader in digital distribution for the independent music and video community. With a catalog of almost two million tracks from thousands of labels from over 50 countries, IODA represents a diverse catalog of music spanning all styles, including rock, electronic, hip-hop, metal, punk, indie, world, latin, jazz and classical. IODA’s robust systems for managing the technical complexities of digital distribution and marketing continue to set the standard for the way independent rights holders do business in the digital age.
“Sony really impressed us with their respect for, and understanding of the needs of the independent community,” said Kevin Arnold, Founder and CEO of IODA. “We remain, as we always have, fully dedicated to helping independent content owners succeed in the digital world. This alliance will greatly enhance IODA’s ability to continue delivering effective solutions for Independents.”