The group’s WEA label will oversee the acquisition, but Playlists.net will continue to operate as a standalone entity.
The British start-up was founded in Newcastle in 2009 by Kieron Donoghue to provide a platform for users to upload and share playlists.
As of July this year, it claimed one million users per month, amounting to 4.5 million ‘listening sessions’ per month, and one billion Spotify streams per year.
In a statement, Donoghue said: ‘We were approached by WEA earlier in the year to discuss ways in which we could collaborate and it became apparent that there was much to be gained by us joining forces.
‘What’s really exciting is that WEA have committed to support Playlists.net as an independent platform, invest in its future and grow the team to take advantage of new opportunities in the streaming ecosystem. There is a huge appetite in WEA to further embrace streaming, develop new concepts and really innovate in this growing sector.’
http://playlists.net/
The British start-up was founded in Newcastle in 2009 by Kieron Donoghue to provide a platform for users to upload and share playlists.
As of July this year, it claimed one million users per month, amounting to 4.5 million ‘listening sessions’ per month, and one billion Spotify streams per year.
In a statement, Donoghue said: ‘We were approached by WEA earlier in the year to discuss ways in which we could collaborate and it became apparent that there was much to be gained by us joining forces.
‘What’s really exciting is that WEA have committed to support Playlists.net as an independent platform, invest in its future and grow the team to take advantage of new opportunities in the streaming ecosystem. There is a huge appetite in WEA to further embrace streaming, develop new concepts and really innovate in this growing sector.’
http://playlists.net/
