MySpace Music has now finalized a global licensing deal with the labels represented by Merlin, according to details tipped Friday to Digital Music News.
Both companies confirmed the relationship, thanks to resolution on a major sticking point related to equity. MySpace noted that Merlin – and other indies – are now structured to “benefit from the financial growth of MySpace Music” as part of a “growth participation plan,” though exact equity stakes were not shared.
For Merlin, the deal also includes participation in MySpace Music board meetings, though details on voting influence were also withheld. The companies are planning an official announcement on Tuesday, and more details on financial terms and stakes could emerge next week.
Either way, MySpace Music users will soon be able to enjoy on-demand streams from the likes of Arctic Monkeys, Adele, Basement Jaxx, Dorrough, Bjork, Tom Waits, DJ Khaled, Franz Ferdinand, Prodigy, Animal Collective, Rancid and Vampire Weekend.
That comes from a label roster that includes Beggars Group, Domino, E1 Music (formerly Koch Records), Cooking Vinyl, Tommy Boy, and Epitaph. “We can now provide our users with access to the rich catalog that Merlin brings while simultaneously enabling Merlin labels to monetize their content within the MySpace community and easily track their fan engagement via our Artist Dashboard,” said MySpace Music chief Courtney Holt.