Amazon announced on Monday that it has extended its partnership with Universal Music Group (UMG) to explore a '2.0' approach to streaming.
In a press release, UMG and Amazon Music say they intend to work together on new products to benefit artists in the music entertainment group's portfolio.
This agreement comes at a time when Amazon Music is looking to diversify into audio books, visual programs and live event broadcasting.
UMG and Amazon say they also intend to collaborate in the fight against illegal AI-generated content, as well as in protection against fraud and misallocation of rights.
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Amazon.com, Inc. is one of the world leaders in on-line distribution of products to the general public. The group also operates a marketplace activity, allowing individuals and distribution companies to conduct their purchase and selling transactions for goods and services. The activity is organized around three families of products and services:
- electronic and computer products: toys, cameras, computers, laptops and peripherals, TVs, stereo systems, readers, wireless communication products, etc. Amazon.com also offers kitchen and garden equipment, clothing, beauty products, etc.;
- cultural products: books, musical products, video games and DVDs;
- other: primarily Internet interface and application development services.
Net sales break down by source of income between sales of services (52.7%) and sales of products (47.3%).
Net sales are distributed geographically as follows: the United States (69.3%), Germany (6.5%), the United Kingdom (5.9%), Japan (4.7%), and other (13.6%).