Looks like an ongoing RIAA lawsuit (not to mention bans from MySpace and Facebook) isn’t stopping Project Playlist from continuing to carve out its niche in digital music. The music search and sharing site has acquired TotalMusic, the UMG and Sony (NYSE: SNE) Music Entertainment JV that shut down in February, for an undisclosed amount.
The deal is a technology play, as Playlist gets TotalMusic’s streaming and e-payment platforms; the payment platform moves the site that much closer to being able to let users buy tracks. The acquisition did create some staff “redundancies,” and the company said it had to let just under a dozen employees go from both the Playlist and TotalMusic divisions combined.
Playlist has also signed a new licensing deal with Sony BMG offshoot Sony/ATV Music Publishing, giving users access to vintage and new tracks from artists including The Beatles, Bob Dylan, Shakira and John Mayer. The two new deals come just about a month after *MTV* vet John Sykes took the reins as the music-sharing site’s CEO. Release.
Photo Credit: Marxchivist