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Archive for 10/12/2007
Universal Music Group in Web deal with Imeem
10/12/2007 by swordfish.
Universal Music Group on Monday said it signed an agreement with music-based social networking Web site Imeem to provide free, on-demand streaming of its digital music and videos that will be supported by advertising.
Universal, which is owned by French media group Vivendi, is the fourth major music company to strike a deal with the Web site, following Warner Music Group, EMI Music and Sony BMG Music Entertainment, a joint venture between Sony and Bertelsmann AG.
Imeem, which says it more than 19 million users, allows users to create profiles and connect with each other by uploading MP3 files to create playlists, which they share.
Major record companies, including Universal, have been trying to strike a balance between curbing online piracy and forming partnerships with industry newcomers as they look for new ways to promote and distribute music to fans.
Imeem is the fourth most popular multimedia entertainment site in the United States after Google Inc’s YouTube, Google Video and News Corp’s MySpace Videos, according to tracking firm Hitwise.
Source: Yahoo News
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