Nokia buys Loudeye for mobile music

August 8, 2006 on 4:43 pm | In Nokia, Coming Soon, Brands |

Today Nokia released that is has reached a $60 million agreement with Loudeye, the #1 supplier across Europe of music platforms, hoping to gain an edge on mobile-music. With the purchase of Loudeye, Nokia can offer a full-scale mobile music experience, ranging from handset to applications.

Loudeye is currently in over 20 countries and has 60 services across Europe, Australia, South Africa, and New Zealand. Loudeye also aggregates rights and content from both major and independent labels, and offers over 1.6 million tracks.

“This is an entry to a new business for us, so far Nokia has sold mostly devices,” said Nokia’s Tuutti.

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