Samsung buys music-movie streaming firm mSpot

May 10, 2012
The Samsung Electronics headquarters in Seoul. Samsung Electronics announced it is buying mSpot to take advantage of the Silicon Valley company's prowess at streaming music and films to smartphones or tablet computers.

Samsung Electronics announced it is buying mSpot to take advantage of the Silicon Valley company's prowess at streaming music and films to smartphones or tablet computers.

The South Korean consumer electronics powerhouse did not reveal what it is paying to acquire mSpot, which is based in the Northern California city of Palo Alto.

"MSpot shares our vision to bring a best-in-class cloud and streaming entertainment experience to consumers and they've backed it up with great technical solutions," said Samsung media solution center senior vice president TJ Kang.

Samsung is buying mSpot's technology and team for a price estimated in online reports to be less than $10 million.

Samsung said it will pre-install mSpot music, video and radio services in new mobile devices.

"With our combined resources, we are looking forward to redefining across the mobile universe with cloud services," said mSpot chief executive Daren Tsui.

Analysts agree that digital content and fun applications on smartphones is vital to the popularity of smartphones or tablets in the fiercely competitive gadget market and can be more important to consumers than slick hardware.

MSpot was founded in 2004 and its services include digital lockers for storing music in the Internet "cloud" and online streaming of songs and films.

The company faces heavyweight competition from and Amazon.com, which have each offer online music storage and streaming services.

Explore further: Microsoft's expanding cloud platform shines brightly

add to favorites email to friend print save as pdf

Related Stories

Music industry takes to the digital cloud

Jan 23, 2011

Music is taking to the clouds after Sony said it is expanding its cloud-based digital Music Unlimited service around Europe to enable fans to access music on their digital devices.

Sony's Music Unlimited comes to Android

Jun 16, 2011

Sony has released an app making its Music Unlimited online streaming available on smartphones running Google's Android system, amid growing competition from Amazon and Apple in cloud-based services.

Recommended for you

NBCUniversal settles with unpaid interns for $6.4M

3 hours ago

NBCUniversal will pay $6.4 million to settle a class action lawsuit brought by unpaid interns who worked on "Saturday Night Live" and other shows who claim they are owed wages, according to court documents.

States ascend into the cloud

4 hours ago

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

6 hours ago

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

6 hours ago

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

Ericsson profit down 10 pct despite higher sales

11 hours ago

Wireless equipment maker Ericsson says its third-quarter earnings slumped 10 percent despite higher sales due to increased operating costs and negative effects from currency hedging.

User comments : 0