Xandrie SA, parent company of Qobuz, the French high-quality music streaming and download platform, is accelerating its growth strategy in Asia and announces the acquisition of e-onkyo music, a high-resolution music download platform, from Onkyo Corporation, the Japanese high-end electronics manufacturer.
Qobuz continues its international growth strategy in Asia
The acquisition of e-onkyo Music, a music download platform, represents a new major strategic step forward for Qobuz, which intends to pursue further international expansion. It follows the launch of the service last April in the Nordic countries (Sweden, Denmark, Norway, Finland), as well as in Australia and New Zealand. Other expansion projects should materialize in the coming months.
For Onkyo Corporation, the sale of e-onkyo music is part of a plan to restructure its activities as the company focuses on its core business. Onkyo Corporate has transferred the assets of its e-onkyo music business to the newly formed Xandrie Japan Co Ltd. Xandrie SA holds 85.1% of the shares of Xandrie Japan Co Ltd and Onkyo holds 14.9%.
The development of a high-end international offering
For Qobuz, the acquisition of e-onkyo music is an opportunity to broaden its high-resolution offerings and to enrich its catalog with local content and cutting-edge musical genres such as J-Pop.
A pioneer of high-quality sound since 2007, Qobuz offers a rich and eclectic catalog of varied repertoire (jazz, classical, pop-rock, world music and more) in addition to articles, interviews, and album reviews, demonstrating its complete and borderless musical universe. With over 70 million tracks and nearly half a million pieces of editorial content, Qobuz offers all music lovers the unique opportunity to (re)discover the history of music and artists of yesterday, today, and tomorrow.
“Thanks to the acquisition of e-onkyo music, Qobuz has taken a new step in its international development and is successfully pursuing its growth ambitions on the Asian market. This union will allow Qobuz to offer a high value-added and eclectic music offer as well as the most complete high-resolution download offer on the market. In the long term, Qobuz also aims to rapidly launch a streaming offer in Japan”, says Georges Fornay, Deputy CEO of Qobuz.