Apple embraces the cloud with Lala acquisition

Monday 7 December 2009 | 16:23 CET | Author: Tim Poulus | Market Commentary
Apple has acquired Lala, a streaming music service with agreements with the four major music labels EMI, Warner Music, Sony Music and Universal Music. Lala offers the first listen free, and for USD 0.10, users can listen to a track an unlimited number of times. Downloads are also possible, usually for USD 0.79 per track. Lala users can also upload their own MP3s to the site, giving them access wherever they are to music from their hard drive. No takeover price was disclosed, but earlier this year Warner Music wrote down its USD 20 million investment in the company by USD 11 million. Lala

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Categories: Internet / IT
Companies: Apple / Lala / Philips / T-Systems
Countries: World
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