Universal Music Says Times They Are A-Changing, And So Are We
from the believe-it-when-we-see-it dept
Universal Music says it's shifting its strategy to become a broader entertainment company that's less reliant on music sales. The shift comes as sales of digital music -- not just full-track downloads, but other products like phone ringtones -- are skyrocketing and helping offset physical music sales declines. Universal also said it wants to "tap into the enormous demand for free music, and generate revenue from those who can't or won't pay" -- hopefully that means it's going to focus on other lines of business rather than stepping up lawsuits against file-sharers. The company's already dipped its toe into these waters, having set up a music-centric virtual mobile phone operator, and this week it licensed its catalog to Motorola for use in its iRadio system for phones as well. Universal's also going the K-Tel route, selling its back catalog through infomercials.