Sony To Launch 'Net Music Download'
"Sony on Thursday threw down a challenge to US rivals Microsoft and Apple by announcing plans to launch a new online music service for its consumer electronics and mobile device users," says the UK's Financial Times online here.
US rivals Microsoft and Apple? They're all in it together.
The "initiative" will, "help combat rampant internet piracy in the music industry," says the FT story, going on:
"Sony's so-called 'Net Music Download' plan will be introduced next spring in the US and Europe, following a launch in Japan. Sir Howard Stringer, Sony's vice-chairman and head of the group's entertainment operations, told the company's annual dealer conference that such moves were vital to stem losses from internet piracy. Speaking in Paris, he claimed that piracy had cost the music industry some $7bn in the past two years while US film studios had lost $3bn-$4bn."
In July, Sony Pictures Group posted a Y2.4bn ($20.5m) operating loss for the first quarter, while the company as a whole "endured" a 69% drop in pre-tax profits, due to weak performance in most of its key businesses, adds the FT.
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