that company is screwed
Have you heard about Qtrax?
Qtrax told Reuters and other media outlets last week that it had deals with the major labels representing about 75 percent of all music sales, to let users download songs for free in a new service to be supported by advertising revenue.
But by Monday, Sony BMG Music Entertainment and Warner had publicly denied that they had agreed to back the new Qtrax service.
A source close to Universal Music, the largest of the group, said it also had not signed a deal for the new Qtrax service and is still in discussions.
Another report says:
A website which promised to give music lovers the world’s first legal file-sharing service was forced into a humiliating climbdown today after it emerged that the company had not secured the backing of the record industry.
Qtrax, a New York firm, unveiled its service with a glitzy £500,000 launch in Cannes at the weekend, hiring stars including James Blunt, LL Cool J.
What kind of idiot company spends $989000 on a launch of a product that doesn’t exist?! Not only do I think they’re not very bright, but I wouldn’t trust any company that spent almost a million dollars on a product launch party.
