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Unedited press release follows:
Sainsbury’s acquires Global Media Vault Ltd from MBL PLC to support development of Sainsbury’s Entertainment website
October 11, 2011 — Sainsbury’s has today announced the acquisition of online entertainment company Global Media Vault Ltd from MBL PLC for £1 million. The acquisition will support the retailer’s drive into the growing online and digital entertainment market following the launch of the Sainsbury’s Entertainment website in November 2010.
Global Media Vault Ltd is a white label online digital entertainment business operating with Sainsbury’s as its main client. It began trading in January 2009 and has developed a unique entertainment ecommerce and digital media platform. Global Media Vault’s digital database already includes over three million music, film and game assets for the UK market, all of which can be browsed, purchased and distributed via web, mobile, TV and kiosk applications.
Luke Jensen, Sainsbury’s Group Development Director, said: “Online retailing and the delivery of digital content will play a key role in the future of entertainment so this is an important acquisition for Sainsbury’s. Taking full control of Global Media Vault Ltd will enable us to develop our existing Sainsbury’s Entertainment website even further enhancing the functionality and customer experience, meaning customers will soon be able to buy, rent or stream content from Sainsbury’s.
“The acquisition also represents a significant time saving when compared to building a platform from scratch ourselves. Securing this platform for Sainsbury’s Entertainment shows how we are constantly looking to innovate and seize opportunities that will support the future growth of our business.”
The UK entertainment market is worth £7.3 billion with the digital and online market in strong growth. The online market is expected to double in value by 2015 (Verdict Research).
Notes to editors
Our strong ethical approach has been at the heart of our business, ever since we opened our first store back in 1869. Our five values provide the framework for how we do business at Sainsbury’s. They guide us in everything we do – from key business decisions to day-to- day activities.
In the current economic climate our values remain just as relevant. Although customers are increasingly price-conscious, ethical and environmental issues remain important for them.
We believe that by considering the wider social, environmental and economic impacts of our business, we are able to meet our customers’ expectations by acting responsibly on their behalf. This ultimately delivers long-term shareholder value by securing our future ability to grow as a profitable business.