WMG will get an equity stake in ClickRadio as well as dough from the New York-based netco. Oh, and it's radio, which means Warner, like the other majors, gets paid to allow another entity to promote its product—something it spends money to get in the terrestrial world. Gee, guess they might not go broke from this Internet thing after all.
The service, slated to launch this fall, has 40 stations and uses the ePAC codec for sound files. Unlike MP3, ePAC has built-in security, which means that children under eight will have difficulty hacking them.
"We're delighted to be able to offer Warner Music Group and its powerful stable of labels and artists to users of ClickRadio," reads an insta-quote generated by a powerful new software on behalf of company Chairman/CEO Hank Williams. "Because ClickRadio captures the musical preferences of every listener, it significantly improves the ability of the music industry to launch, promote and market its products. That's why we're paying them."
"ClickRadio's innovative service, blah blah blah," is the gist of a quote from WMG EVP Strategic Planning and Biz Dev Paul Vidich. "Plus, it's a thrill to be working with country great Hank Williams—reports of his death were clearly inaccurate."
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