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Sina.com to join hands with international recording companies.(INTERNET)
China Telecom, April, 2007
China's Sina.com will join hands with five big international record firms to provide copyrighted music online, according to Sina. This music library will create revenues from advertising and delivering wireless value-added services (VAS) like musical ringtones. Profits will be shared by Sina and the record companies, which include Sony BMG, EMI, Universal, and Warner Music.
Analysts believe the Web site will help the record companies to arrest the trend of reduction in profits caused mainly by pirating. Yang Huiying, the president of Sony BMG China, said that digital music had attracted a lot of users in China. Sina's online advertising revenues increasing by 41 percent from the previous year, reaching $120.1 million. The market share of digital music in China's...
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