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Markets | IN BRIEF | VIDEO GAMES

Electronic Arts launches music label

March 27, 2007|From Bloomberg News

Electronic Arts Inc. formed a record label that will promote new artists by putting their music in games.

Artwerk will be based in Los Angeles and owned jointly with music company Nettwerk One Music, Redwood City, Calif.-based Electronic Arts said.

Video game makers pay royalties to labels, publishers and artists for use of music in games or hire musicians to create soundtracks. Signing artists will reduce royalty costs and provide new revenue from the sale of CDs and digital music products.

Artwerk's first signing is Junkie XL, whose tracks have appeared in "Madden NFL 07" and "Need for Speed Carbon."

Shares of Electronic Arts rose 21 cents to $50.34.

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