), the world's most popular Internet search engine provider,
recently announced a licensing deal with several European music
publishers, thus expanding the archive on Google Music.
The Internet search giant collaborated with Armonia, a major
European music publishing group which includes French, Italian
and Spanish licensing groups.
The deal will provide Google users access to 5.5 million
tracks on Google Music across 35 countries, including tracks by
leading artists like Lady Gaga and Rihanna. This should help
Google to expand its music content offerings in Europe. The deal
will allow users to integrate their favorite albums and music
with their Google Music library, which can store up to 20,000
We believe that one of the key strategies for Google Music
remains the expansion of its songs archive. Google announced its
digital music store almost a year ago, debuting with millions of
songs from leading music companies like EMI, Sony Music and
This deal will allow users to access a greater range of
content, a key factor for Google to better compete with rival
music destinations like
) iTunes Store,
), as well as streaming services such as Spotify, Deezer and
Google has done well in the third quarter, with its gross
revenue touching a record $14.10 billion. Revenues from both
Google-owned and partner sites continued to grow in double digits
on a year-over-year basis. Historically, Google has always fared
), which has been struggling to uphold itself and
), which is yet to gain critical mass.
However, legal entanglements related to competitive matters or
patent infringements remain an overhang. Google retains a Zacks
#3 Rank, which translates into a short-term Hold rating.
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