Warner Music Strikes Licensing Deal In Settlement With imeem
If you’ve got the audience, a smart company will think of something to do with it when you don’t abide by their rules. And that’s what Warner Music Group Corp. did when they settled a copyright infringement lawsuit with music social networking site imeem by agreeing to license its music and video to them for a slice of their ad revenue.
Although they didn’t disclose how much they will get out of the deal, imeem has more than 16 million active users and counting. The agreement will allow imeem to carry music and video by all of Warner Music Group Corp artists like Madonna, Linkin Park and others.
The three year-old San Francisco based company first began offering instant messaging and file-sharing software that turned into a social networking site unlike any other. Users of the site are allowed to post their own music and videos somewhat like myspace and youtube, but in a unique way. The site reportedly began offering video content less than 18 months ago. Revenue is generated by non-intrusive ads placed on generated web pages.