Tesco buys into music service We7

Tesco has bought a 91% stake in music streaming service We7, in a bid to bolster its existing entertainment and digital content platforms as the supermarket battle for the entertainment market heats up.

we7 tesco

The news follows Sainsbury’s announcement that it has bought a 64% stake in online e-book retailer Anobii as it looks to build its presence in the digital entertainment market. Sainsbury’s also launched an MP3 download platform last month.

In a statement the supermarket says the deal will “offer customers a wider choice in how they consume music, complementing Tesco’s current music offer in store and online”.

Tesco adds that the move is “the latest step in [our] strategy to offer customers new and innovative ways of accessing digital entertainment.”

The supermarket also has a stake in online movie streaming site BlinkBox and offers a music download platform.

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