February 24, 2005 – (HOSTSEARCH.COM) – Wurld Media, Inc. today announced that Peer Impact(TM), their peer-to-peer (P2P) online digital download service, will offer music from EMI Music making Peer Impact the first peer-to-peer network to sign agreements with the four major record labels. Peer Impact had previously announced agreements with SONY BMG MUSIC ENTERTAINMENT, Universal Music Group and Warner Music Group.
Peer Impact's unique technology allows consumers to purchase music but also to earn money by sharing their music with others as "paid redistributors".
Peer Impact also promises to be free of spyware, viruses or pornography.
Peer Impact is negotiating partnerships with independent music labels, video game publishers, and motion picture studios, with the goal of the most complete and diverse catalogue of content for its members.
"Our agreement with EMI Music is essential to Peer Impact's viability, as we now have all the major record labels' entire catalogues available for download," Greg Kerber, Chairman and CEO of Wurld Media, Inc. said. "Peer Impact isn't just a network where you spend money, it's a network where you can earn cash to buy more music, and the catalogue is growing daily. We also intend to expand our content offerings in the areas of film and video games soon after launch."
"EMI Music is happy to be delivering its catalog of music to consumers via Peer Impact -- the first of what we hope will be many legitimized P2P services," said Ted Cohen, senior vice president, Digital Development & Distribution at EMI Music. "This service will show that the legal exchange of copyrighted works and a good consumer experience can go hand-in-hand."
How much songs will cost is not mentioned in Peer Impact’s press release nor is it mentioned on their website. It will be interesting to see if they can compete with other P2P and music download services, much of which will depend on initial price.
