Qtrax snags former IFPI CEO for advisory board
Monday, October 6th, 2008
Ad-supported music firm Qtrax has announced three new appointments, including two new advisory board members. The most high-profile is Jay Berman, former CEO of recording industry body IFPI, who’s becoming co-chairman of Qtrax’s advisory board along with Larry Gan.
In the announcement, Berman says he’s been assisting Qtrax for the last year, and that its service is a “paradigm shift” for the music industry. It was certainly a paradigm shift for successful launches. Meanwhile, Michael Firetti has joined as director and executive vice president of global strategic alliances. However, he too has been involved with Qtrax for a while, as president and CEO Allan Klepfisz makes clear.
“Mike first became involved with us as an investor about 12 months ago and has, since then, brought in an array of additional investors that, in aggregate, have accounted for a substantial percentage of the funds we have raised to date. His appointment as a Board Director and EVP will allow Mike to utilize his considerable skills to make a further, ‘hands on’ contribution to the company.”
Qtrax has signed several licensing deals since that disastrous launch earlier this year, but it still has work to do - particularly now it’s facing competition from a new wave of ad-supported streaming services like MySpace Music and Imeem.
