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AOL Music, SonyBMG in video deal
Report: SonyBMG could see $25M in agreement; AOL gets exclusive rights to show videos on the Web.
May 25, 2005: 8:26 AM EDT

NEW YORK (CNN/Money) - America Online is wrapping up an agreement to gain exclusive access to SonyBMG's music videos for its online video-on-demand service, the New York Post reported Wednesday.

Sources say AOL could pay SonyBMG more than $25 million in the deal, the newspaper said.

Representatives for AOL and SonyBMG declined comment.

In April, AOL also announced that it reached non-exclusive pacts with Warner Music Group and Universal.

The SonyBMG deal is a continuing departure from the more common non-exclusive pacts between music labels and online companies, such as Time Warner's (Research) AOL, Yahoo! (Research) and Microsoft's (Research) MSN.

Record labels have increasingly been turning to online outlets like AOL and Yahoo! to market and promote new music and artists.

About 22 million users visit AOL Music each month, and advertisers are taking notice. Earlier in May, AOL Music inked a $5 million sponsorship deal with Chevrolet.

Click here to get whatever music video you want, whenever you want it.

Time Warner is also the parent company of CNN/Money.  Top of page

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