Online giant Google (NASDAQ:GOOGL) recently inked a new deal with Armonia, the first pan-European licensing hub that includes numerous music publishers, to bolster its local content offerings in Europe. Armonia aggregates the rights to three licensing entities, SACEM (in France), SGAE (in Spain), and SIAE (in Italy), which allows for a single point of negotiation and grants access to the underlying content spanning 35 countries.
Google signed an agreement with Armonia on Nov. 1, according to a press release from Armonia, granting the company and its customers within many regions access to more than 5.5 million tracks within its numerous online services like Google Play and Google Music. The deal is an important move to bolster Google's European content availability, especially as the company targets Europe with its new lineup of Nexus devices.
The recently launched Nexus 4, Nexus 7, and Nexus 10 devices are only available in seven countries, including France, Germany, Spain, and the U.K.
Evan Niu, CFA, has no positions in the stocks mentioned above. The Motley Fool owns shares of Google. Motley Fool newsletter services recommend Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.