The world’s third largest retailer acquired a 91 percent stake in the streaming service, which was co-founded by Peter Gabriel and entrepreneur Steve Purdham in 2007.
Last year We7 relaunched, focusing on a younger demographic and providing personalised radio stations, in an attempt to differentiate itself in an increasingly competitive marketplace.
We7 chief executive Purdham said yesterday: ‘We are very excited by the prospect of teaming up with Tesco. With its loyal customer base, numerous marketing channels and international reach, we believe Tesco is the perfect partner to bring We7's music services to a wider audience.’
Tesco is expected to purchase the remaining nine percent of the service over the coming weeks. A Tesco spokesperson said that the deal would allow it to offer customers ‘a wider choice in how they consume music, complementing Tesco's current music offer in store and online’.
It will build on Tesco’s purchase of online film provider blinkbox last year, and forms part of the supermarket’s overall strategy to develop a presence in the online entertainment market and compete with rival Amazon.
PRS for Music currently licenses We7.
Last year We7 relaunched, focusing on a younger demographic and providing personalised radio stations, in an attempt to differentiate itself in an increasingly competitive marketplace.
We7 chief executive Purdham said yesterday: ‘We are very excited by the prospect of teaming up with Tesco. With its loyal customer base, numerous marketing channels and international reach, we believe Tesco is the perfect partner to bring We7's music services to a wider audience.’
Tesco is expected to purchase the remaining nine percent of the service over the coming weeks. A Tesco spokesperson said that the deal would allow it to offer customers ‘a wider choice in how they consume music, complementing Tesco's current music offer in store and online’.
It will build on Tesco’s purchase of online film provider blinkbox last year, and forms part of the supermarket’s overall strategy to develop a presence in the online entertainment market and compete with rival Amazon.
PRS for Music currently licenses We7.
