EMI finds Web Virtue

World Brief

EMI has agreed to a strategic alliance with U.K. Webcaster Virtuebroadcasting.com.

Virtue will provide Netcasting and other online services to the music major’s British record labels. EMI will also promote Virtue to its labels in other markets.

As it often does in its new-media dealings, EMI is taking a small equity stake in Virtue to help provide funding.

Virtue, set up in 1998, is a global leader in streaming content and has subsids in Canada, Australia and Mexico.

Company’s Webcasting credits include Paul McCartney from the Cavern in Liverpool, Madonna from the Brixton Academy in London and Radiohead in concert from Toronto. First Webcast to fall under the arrangement with EMI will be that of Neil Finn’s Feb. 4 London performance.

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