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Transol unit signs reciprocal distribution deal

Transol unit signs reciprocal distribution deal

Digital distribution company Transol's (ASX:TNC) music subsidiary, Valleyarm Digital, has completed the circle of a licensing deal with Germany's Believe Digital.

The company has signed an agreement that grants Valleyarm non-exclusive distribution rights for Believe's catalogue in Australia, China, New Zealand, Japan and several Asian nations.

The company will offer the tracks in online stores including Telstra's (ASX:TLS) Bigpond, and those from Vodafone and two of China's three main operators - China Mobile and China Telecom.

The deal covers around 500,000 tracks from independent European artists and labels. A Valleyarm spokesperson said its catalogue now consists of around 560,000 songs.

“This milestone is a significant step towards Valleyarm's goal of having a catalogue in excess of one million tracks,” the spokesperson said.

Velleyarm earlier this month signed a related deal that gives Believe the rights to offer the Valleyarm catalogue in its European markets.

The Pacific and South East Asian nations covered by the latest deal are Brunei, Burma, Cambodia, East Timor, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Valleyarm concentrates on distributing tracks for the Asian digital music market.

TNC shares declined 25% to $0.003 during Thursday's market trading.

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Tags TransolASX:TNCdistributiondigital musicbusiness deals

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