Three Big Music Labels Sign Up for Peer Impact

By | November 24, 2004 at 12:00 AM

Los Angeles – Three of the Big Four music labels have reached licensing agreements to provide their music to the soon-to-launch Peer Impact network, a peer-to-peer service that enables legal music file-sharing.

Peer Impact is being developed by Saratoga Springs, New York-based Wurld Media, which signed the pacts with Warner Music, Sony BMG Music Entertainment and Vivendi Universal’s Universal Music Group.

A spokesman for Wurld Media said on Tuesday it is currently in talks with the remaining major label, EMI Group Plc.

Peer Impact is currently conducting internal tests and plans to launch to the public in the first quarter of 2005.

Its proprietary business model is designed to provide a clear, legal alternative for consumers to buy and share music, video and an assorted variety of digital content. The company said the service ensures that artists and rights holders receive their due compensation for each file shared on the network.