The latest music-on-a-social-network announcement comes from Imeem, which is now the first social net to sign deals with all four major music labels; Warner, Sony BMG, EMI and Universal.
The media sharing site will offer its 19 million users free streaming of music and video from Universal artists as part of the latest deal, funded with advertising. Universal and Imeem share those revenues. and the label also receives a tiny set payment each time their songs are played.
Imeem doesn't allow downloads however; free, ad-funded downloads will be here in time, no doubt, but this is another step in that direction. If Imeem appears to be limiting its audience to those that want to listen to music on their computer, rather than making it iPoddable, perhaps it has plans for mobile further down the line?
It's notable that MySpace - which was last year sued by Universal for copyright infringement - has already announced that it will start free downloads in the new year.
Imeem chief executive Dalton Caldwell, however, said the site doesn't want to be a music store, promising instead to provide a whole new revenue stream for music labels. Music to their ears, of course.
Source: Wall Street Journal
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