Universal Music Group has entered a deal with social networking site Imeem to offer free, on-demand streaming of ad-supported digital music and videos.
Universal Music Group has entered a deal with social networking site Imeem to enable free, on-demand streaming of music and videos from Universal Music artists. Although technical details of the streaming technology were not released, one thing was made abundantly clear: the music and video streams will be ad-supported.
The move makes Imeem the first social networking site to offer music streaming from “The Big Four” major music labels (Warner Music Group, EMI, Sony BMG, and now Universal). The service enables users to search for on-demand music and video and create custom playlists for friends and family both on Imeem and on third-party Internet services.
“This is a significant step forward for Imeem and a defining moment for social networking and ad-supported music,” said Imeem founder and CEO Dalton Caldwell, in a statement. “Imeem has pioneered a way to bring fans, bands, and brands together in a way that’s good for everyone. Our agreement with UMG will make Imeem’s media-centric experience even more compelling and firmly establishes our position as the leading social media network.”
Imeem claims to have more than 19 million users. Terms of the deal were not disclosed, but Imeem has traditionally offered a revenue-sharing model based on money generated from advertisements appearing alongside streamed content. “They’ve done so the right way—by working with UMG to provide an exciting musical experience for consumers, while ensuring that our artists are fairly compensated for the use of their works,” said UMG CEO Doug Morris, in a release.
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