Chinese search leader Baidu (BIDU) has formed a partnership with the largest Chinese record label to stream music online. For free. Advertising will run on the pages where the music is accessed.
Money will be paid to artists from the advertising revenue pot.
The idea, while not entirely novel, is being put into place by the most powerful internet company in China. If it works well, the question is whether it will move to other place, especially the US.
"Free" music could put a dent in Apple’s (AAPL) strangle hold on digital music and help companies like RealNetworks (RNWK) which have hundreds of millions of digital players downloaded on PCs. The extent to which this music can be transferred to MP3 players is not clear yet, but iTunes might get some competition.
Douglas A. McIntyre can be reached at [email protected].
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
