News
Global Media Bank to 'make mobile music profitable'
Stuart O'Brien Jul 25 2008, 12:00pm
Swedish start-up claims it can dramatically reduce deployment costs with world's largest 'digital music bank'.
Stockholm-based Global Media Bank has unveiled a digital music retail platform that it says will make selling music on mobile and the web 'more profitable'.
The company says its system is capable of managing up to 10 million songs, their delivery and subsequent reporting to rights owners and collection societies.
GMB claims 25-35 per cent of current reporting back to rights owners is incorrect due to inefficient procedures and the lack of common standards in existing systems.
The company - a spin-off from mobile marketing outfit PlusFour Six - was founded by former Stockholm Records producer and Mobilehits founder Jan Nordlund and Niklas Stålberg, founder of Thailand's WPP joint venture Siam2you.
Nordlund said: “Our business model guarantees high quality and reduced costs for the music retailers, who then can put their focus on sales, marketing and develop new and attractive legal music services."
