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: Alibaba surges in Wall Street debut

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

Alibaba surges in Wall Street debut

12 hours ago

A buying frenzy sent Alibaba shares sharply higher Friday as the Chinese online giant made its historic Wall Street trading debut.

Alibaba makes Wall Street debut

17 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

20 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

23 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0