Sony Qriocity Cloud-Based Music and Media Streaming Service vs Apple’s iTunes?
Sony officially announced their new Qriocity cloud-based music and media streaming service, which obviously is a new competition for iTunes 10 with Ping Social Network. The music distribution business just got a little more competitive. Sony just finished their first press conference at the ongoing IFA trade show in Berlin. Sony proclaims their intention to join the rapidly profitable online music retailing business with their new service Qriocity. The name of this new venture takes a nice play on the word “curiosity.” Now I admit, I am really very curious on this latest move of Sony.
Sony owns a lot of movie, TV, and print media companies but most of its profits are derived from hardware sales. The introduction of Qriocity is a unexpected move for the company. To be honest, almost all attendees and journalists present at the IFA were dumbfounded by this news.We expected Sony to release some new smartphone or Blu-Ray player but Qriocity is a major surprise! Cloud-based streaming is a new territory for the Japanese conglomerate.
Sony Unveiled its first-ever online streaming venture, Qriocity, at the IFA 2010
Come to think of it, Sony is undoubtedly seeing lots of money flowing to Apple’s pocket with their now-legendary iTunes Store. The electronics business of making gadgets and selling them is already too old-school and Apple’s tactic of selling both hardware and after-sale products and and services to their customers is now being hailed as one of the greatest business innovation in history. Qriocity is Sony’s attempt to emulate Apple’s strategy. This new service will provide not only music content but also, movies, TV shows, magazines, and e-books to their customers.
First of this salvo will be the “Music Unlimited powered by Qriocity” streaming music service which will be introduced later this year. Subscribers will get access to a millions of songs for a small monthly fee. Initially, the Music Unlimited service will only be compatible with Sony’s current 2010 line of products that are network-enabled. All of those Playstation 3 consoles, Sony Bravia TV sets, Sony VAIO laptops, Blu-Ray players, personal computers and smart phones made by Sony will be compatible with Qriocity.
I believe this is a very brilliant move by Sony even if Google’s online music store and iTunes Cloud-Based service (Apple Ping Social Network) also pose as threats to Qriocity. I can make a conservative estimate of 50 million devices around the globe which can immediately accept Qriocity’s streaming music. This readily available market for Sony’s streaming media service means it has a good chance of succeeding. Remember that Sony owns major Hollywood studios, record companies and TV stations, expect these to be coming to your PS 3 soon too!
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i think this is an amazing service