Ah! I could not resist titling this article with one of my grandfather's favorite chants. I can hear his voice now, bellowing through the neighborhood after dinner on a hot summer night. My grandfather would eat ice cream for dinner if no one was watching, and yet he was as skinny all his life. (Of course, he did not sit infront of computers all day either.) So, where was I? Oh yes! IMEEM!
The six month old social networking website IMEEM allows visitors to stream, but not download, an unlimited number of songs and videos. The site makes money with advertising and the company shares revenue with label partners. On Monday the company announced that they signed a deal with Universal to access the catalog of Universal Music Group (CSCO: NYSE). Similar agreements were also made with Warner (WMG: NYSE) Sony (SNE: NYSE) and EMI. This new begining screams with irony, because just months ago the budding company was nearly plucked and squashed by a lawsuit - compliments of Warner Music. The suit was dropped when Warner realized IMEEM could solve all of their download pirating woes.
Well, when you can't beat'em...join'em!
That's one of the best headlines I've seen all year, Linda Marie!
Posted by: Easton Ellsworth | December 13, 2007 8:37 AM | Permalink to Comment