Avex Digital (ADG), Sony Music Entertainment (SME), and LINE today agreed jointly establish LINE MUSIC Corporation with the aim of providing a new subscription-based music streaming service.

Overview of LINE MUSIC Corporation

Company Name: LINE MUSIC Corporation

Headquarters: 

Shibuya Hikarie 27F, Shibuya 2-21-1,

Shibuya Ward, Tokyo, Japan, 150-8510

Representative: CEO, Jun Masuda (Executive Officer and CSMO of LINE Corporation)

Business description: Music streaming services, etc.

Capital (Capital Reserves): JPY 480,000,000

Established: December 11, 2014

Settlement date: December 31

Share Distribution:

　LINE 40%

  SME 40%

  ADG 20%

 

LINE MUSIC Corporation, backed by the 3 companies of this partnership, is currently in the process of holding concrete discussions on how to best capitalize on the appealing content and experience developing music services possessed by both ADG and SME, as well as the global user base and experience developing and operating smartphone services boasted by LINE, in order to provide opportunities for users to be exposed to new music, and to further develop and accelerate the expansion of the music industry as a whole by creating all new ways of enjoying music in the smartphone era.

 

LINE MUSIC plans to make further announcements when detailed information regarding the service is finalized.

 

Overview of Avex Digital Inc. (As of October 1, 2014) 

Company Name: Avex Digital Inc.

Local: 1-6-1 Roppongi, Minato Ward, Tokyo, Japan

Representative: President Masato Matsuura and Vice President Ryuhei Chiba

Business description: Planning and production of digital content

Capital: JPY 487,550,000

Founded: October 1, 2004

 

Overview of Sony Music Entertainment (As of October 1, 2014)

Company Name: Sony Music Entertainment Inc.

Headquarters: 6-4-5 Chiyoda Ward, Tokyo, Japan

Representatives: Representative Director & Chairman Masao Morita, Representative Director

Naoki Kitagawa

Business description: Planning and Producing Music and Video Content

Capital: JPY 100,000,000

Founded: April 1, 2003 (head company founded March 1968) 

 

Overview of LINE (as of October 1, 2014)

Company name: LINE Corporation

Headquarters: 

Shibuya Hikarie 27F, Shibuya 2-21-1,

Shibuya Ward, Tokyo, Japan, 150-8510

Representatives: President Akira Morikawa, COO Takeshi Idezawa

Business description: Internet enterprises and web-based services (LINE, NAVER, livedoor)

Capital: JPY 12,596,190,000

Founded: September 4, 2000

 

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