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Business News Digital
MUZU reportedly heading into liquidation
By Chris Cooke | Published on Monday 12 October 2015
Dublin-based music video platform MUZU is seemingly heading into liquidation, according to MBW, which says that creditors have been invited to a meeting in Dublin later this month, with Outlook Accountants appointed as liquidator.
MUZU launched in 2008 at a time when a lot of the music content on YouTube had been ripped off music TV channels and uploaded by fans. It aimed to be the home to just official videos provided by labels, but encouraged other kinds of user generated content about the artists it featured. With Sony on board early on, other labels slowly signed up to the free-to-access platform, which offered rights owners a split of advertising income.
The launch of Vevo, the Sony/Universal owned platform which also only tapped official sources of music video content – but which offered its output within YouTube – created a considerable competitor, though MUZU forged a number of alliances with media and web partners, so that it’s system powered music video players on those partners sites.
We await official comment on the company’s situation. Whether a buyer will come forward for the video service remains to be seen.
