Chinese web portal Sina.com stated it has reached agreements with five record companies to launch a digital music platform for online music, downloads and other wireless value-added services.
The partners, according to a recent release, include Sony, BMG Universal, Warner, EMI and Rock Records, who reportedly hold a total of 80 percent of the world’s music recording market.
The tieup involves an unspecified profit-sharing scheme from advertising, download fees and revenue from wireless value-added services.
