full text:
Sony BMG Music Entertainment and Dada Form Joint Venture to Create a Leading U.S. Direct to Consumer Digital and Mobile Entertainment Service
Alliance to Create Next Generation Entertainment Service With Integrated Web and Mobile Offering
Dada Entertainment - New 50%-50% Joint Venture
SONY BMG MUSIC ENTERTAINMENT and Dada, a leading international provider of web and mobile community and entertainment services, announced the formation of a U.S. joint venture to be known as Dada Entertainment LLC. The mission of the joint venture is to create a leading direct-to-consumer entertainment service with integrated mobile and web offerings. The venture's products will be marketed through the web and through mobile off-deck and on-deck distribution channels. Dada Entertainment will be 50% owned by Dada USA and 50% owned by SONY BMG MUSIC ENTERTAINMENT.
The new company will be led by the current CEO of Dada USA Inc., Massimiliano Pellegrini, who will serve as the joint venture's CEO.
Through the new joint venture, which will initially target U.S.-based consumers, SONY BMG and Dada intend to offer a next generation web and mobile entertainment service, combining a wide variety of music content, including ringtones, images, video ringers, mobile games, screen themes, and full length audio and video tracks, with a rich Web 2.0 community and social networking experience. The joint venture will include and build upon various direct-to- consumer offerings contributed by the parents, and will be supported by a full portfolio of web-based services designed to foster interaction between users and encourage a sense of community, including photo and video uploading and sharing, dating, blogs, social networking, and user-generated content.
"This joint venture will provide us with an important platform to further expand Artists' presence in the mobile and web space, give consumers greater flexibility in how they consume music, and build the market for mobile and web entertainment in the U.S.," commented Thomas Hesse, President, Global Digital Business & U.S. Sales, SONY BMG MUSIC ENTERTAINMENT. "We look forward to working closely with Dada as we set new standards of excellence in off deck and on deck mobile services, providing the highest quality content, innovative new products, and the best possible levels of customer service."
For more information:
http://www.bmg.com/
http://www.register.it/
http://www.dada.net/

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