EMI, GlobalNet Unit to Offer Concerts Online
EMI Group, which is merging its music unit with Time Warner Inc. to form the world’s biggest record company, said it will join On-Line Entertainment Network Inc. to offer pay-per-view concerts and other programs on the Internet.
On-Line Entertainment, part of Chatsworth-based GlobalNet Systems Ltd., will be EMI’s recommended technology partner, although the deal is not exclusive. EMI will receive equity in On-Line and a small stake in GlobalNet. Exact terms weren’t disclosed.
EMI, whose artists include the Spice Girls and the Beatles, will assist On-Line Entertainment in reaching agreements with EMI artists to broadcast live concerts and concert footage on the Web. The agreement is part of EMI’s efforts to make more of its music available online.
“The relationship with OEN is a key component of our overall Internet strategy of bringing our artists and their fans closer together on the Internet,” Jay Samit, senior vice president of new media at EMI’s recorded music unit, said in a statement.
EMI shares, which have risen 15% this year, fell 4.8% to close at $10.56.
OEN is able to deliver its programming to more than 1 million listeners simultaneously over the Internet, the companies said.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
