Sony BMG onboard with social net Imeem
EmptyDENVER -- Sony BMG has agreed to license its catalog to music-focused social network Imeem, according to reports. The company is close to deals with Universal Music Group and EMI Music as well, according to Forbes.
Imeem allows users to stream full songs and videos from labels with which it has agreements, free to the user, in return for a cut of the advertising revenue it receives. It limits the stream to 30-second clips if there is no content deal. Users are free to post the specific songs they like and share them with other members, all via a streaming delivery model.
The company scored its first major label deal with Warner Music Group this July, following the label's threat to sue the company for copyright infringement. It since added a content filtering technology and ad revenue tracking system.