London-based independent label V2 Music has struck a deal to license its works for streaming and downloading on Quibus' peer-to-peer music promotion platform.

Malmö, Sweden-based Quibus' service is free to the user, and revenues are generated by online advertising and promotion.

The new agreement is described as the first of its kind between European players in the online music and advertising industries. Financial terms were not disclosed.

"The Quibus service represents an innovative business model and precedent-setting music promotion service," comments Beth Appleton, head of digital and business development at V2 Music, in a joint statement. "It offers our artists a great way to reach music fans and consumers using the potential of peer-to-peer technology, while increasing the potential of our revenue stream."

V2 Music's roster of artists includes Stereophonics, Paul Weller, Little Man Tate and Lethal Bizzle.

"We are proud to enter a strategic relationship with a leading European content owner of V2's calibre, and look forward to working with them on promoting their repertoire," adds Quibus CEO Carsten Wegmann. "We can increase their sales while Quibus can leverage the content for advertising and co-branding purposes."

Quibus was established in August 2003. The firm says it has been involved with a series of music promotions for the major and independent record labels in Europe and the U.S., involving EMI Music, Warner Music, Sony BMG and the Independent Online Distribution Alliance (IODA), among others.

Quibus' executive team includes chief marketing officer Lars Toft, a Scandinavian industry veteran who exited mid-year as managing director of EMI Music Denmark.

Morgan Stanley-owned V2 Music is lining-up a series of events in 2007 to celebrate its 10th anniversary, has learned.