IODA, Sony Music Partner On Digital Network
By Jeffrey Hyatt
Sony Music Entertainment and indie digital music distributor IODA has announced a global partnership to create a distribution and services network for independent rights holders. Financial terms of the deal were not disclosed.
The deal allows Sony to combine IODA’s online music platform with RED, the independent music distribution company it acquired in 1994. IODA has a roster of over two million tracks, which it licenses to more than 400 digital storefronts worldwide, as well as about 2,000 film and video clips. Retail partners include iTunes, Amazon and MySpace Music.
“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.”
For IODA, the deal with Sony boosts their marketing play, plus allows them to expand complementary technologies and increase the scope of sales and promotional opportunities.
Six year-old IODA is one of a burgeoning group of digital music distributors who help smaller labels handle everything from digital rights licensing through to royalty payment administration, plus promotional support.
“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.”
Sony Music recently threw their hat into Vevo, a new, online music video project founded by Universal Music Group and YouTube, so it’s not clear just yet if the partnership with IODA means the indie labels and artists will be involved in the Vevo deal.
