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Business News Deals Labels & Publishers
Sony confirm partnership with IODA
By CMU Editorial | Published on Thursday 2 July 2009
Following those recent rumours that Sony was about to buy a stake of independent digital distributor IODA, news today that a deal has, indeed, been done between the two companies. It seems that IODA will, in particular, become a partner of Sony’s indie distribution arm RED, providing digital distribution to many of the releases that are handled by the Sony division in the physical domain. However, the partnership between the major and IODA may go beyond that, while Sony has also reportedly made a “strategic investment” into the indie.
Confirming the partnership, Billboard quote Sony digital man Thomas Hesse as saying: “RED is traditionally very strong in the physical distribution side. They’re very strong at providing marketing services to labels. IODA is very strong on the digital side. So when a label comes to us and wants physical distribution, worldwide digital distribution and marketing services, we now have a very broad portfolio to offer”.
IODA founder Kevin Arnold adds: “It encompasses a lot of things and will allow us to provide our labels with a lot more benefits and connect them with a deal network that can provide mobile and video support and deal support. Despite Sony’s strategic investment, IODA retains the same staff and will remain in the same offices. This tie-up will simply allow us to move up to the next level”.
