SOURCE: eMusic
January 02, 2008 09:01 ET
eMusic Has Best-Ever Holiday Season Sales
Rings in New Year With More Than 400,000 Subscribers
NEW YORK, NY--(Marketwire - January 2, 2008) - eMusic, the world's largest retailer of
independent music -- and the world's second-largest digital music service
after iTunes -- ended 2007 with a bang, surpassing its most aggressive
holiday forecasts by 100% and doubling the number of new customer trials on
Christmas Day from the previous year. The dramatic results pushed eMusic
past the 400,000 paid subscriber mark less than two months since the
company announced that it reached 350,000 subscribers in November.
eMusic downloads of digital music and audiobooks reached an all-time peak
on Christmas Day with nearly half a million downloads (700 mpbs of data)
delivered. With more than three million tracks from more than 20,000
labels, eMusic continues to provide the largest catalogue of independent
music ever amassed. Since establishing its current subscription model in
November 2003, the retailer has sold more than 177 million music downloads
and approximately 50,000 digital audiobooks.
"We had the most explosive December 25 and 26 in eMusic history, doubling
our projections and blowing away our numbers," said David Pakman, President
and CEO of eMusic. "As this holiday season marks our greatest ever, I'd
like to personally thank our customers for their ongoing support and wish
everyone a very happy holiday. eMusic has entered a new phase of growth
and as we continue to build and develop the number one site for discovering
music and literature there will be much for our customers to look forward
to."
eMusic customers include conventional web-based subscribers as well as
subscribers to eMusic Mobile, eMusic's over-the-air download service with
AT&T, which is now available on 11 mobile phones. eMusic's diverse
collection of independent music is ever-increasing with new label and
distributor signings and labels added through existing agreements. New
titles from every musical genre -- including jazz, classical, R&B, metal,
electronic and more -- appear on a weekly basis. eMusic is adding new
audiobooks titles continually and will announce several audiobook publisher
deals in the coming months.
About eMusic
eMusic (www.emusic.com) is a digital entertainment retailer focused on
serving customers aged 25+ by offering independent music and audiobooks in
a universally compatible format at a great value. It is the world's
largest retailer of independent music and the world's second-largest
digital music service after iTunes, with more than three million tracks
from 20,000 of the world's leading independent labels and over 1,500 titles
from top audiobook publishers. To super-serve its customers, eMusic
provides award-winning editorial content, a vibrant online community and
unrivaled music discovery tools. eMusic's subscription-based service
offers 25 free downloads or one free book at sign-up, giving consumers an
inexpensive, low-risk way to explore great new music and books they
wouldn't find otherwise. Its universally compatible MP3 files play on any
device including the iPod®. Based in New York with an office in London,
eMusic.com Inc. is wholly owned by Dimensional Associates, Inc., the
private equity arm of JDS Capital Management, Inc.