French digital-music service Qobuz has a new owner: “digital culture and entertainment specialist” Xandrie.
The new ownership comes after troubled financial times for Qobuz, which has focused on high-resolution downloads and streaming, but which was recently in the commercial court of Paris as the subject of a potential takeover from two companies: Xandrie being one of them.
Xandrie is part of investment group The Thebaud Group, and it sells e-books, video games, films and TV shows, newspapers and magazines, games and now digital music too.
Qobuz says that its new parent company plans to invest €5m in technical development and €7m in marketing its hi-res service, while also expanding beyond its current nine countries in Europe.
Qobuz has also announced plans to launch new applications; a family subscription plan; new recommendation and social features; and an improved version of its API for third-party apps and hi-fi manufacturers.
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…