2nd May 2014 12:11
LONDON (Alliance News) - One Media iP Group PLC Friday said it has acquired an exclusive licence with an ongoing royalty the 'Rock and Roll Palace' and 'Church Street Station' music-video catalogue of rights, in a deal valued at GBP300,000 plus value-added tax with the Henry Hadaway Organisation.
In a statement, the digital media content provider said the catalogues contain hundreds of music-video performances by various artists, including The Osmonds, The Bellamy Brothers, and Lynn Anderson.
"Our expansion into more music-video content is emphasised by this deal. This video collection has never previously been made available by HHO for digital exploitation and we are excited to be bringing this to market via our music channels with all of the emerging video stores such as YouTube," Michael Infante, Chief Executive and Chairman, said in a statement.
"Monetising this content, as with all our acquisitions, is not an overnight event but with the growing impact of `streaming' to all devices (mobile and home entertainment) becoming the preferred route to market, we anticipate growth in this sector over the coming years," Infante added.
One Media shares were quoted at 14.92 pence, up 1.2% Friday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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