Social Network IMEEM Partners With SNOCAP To Provide Innovative Content Promotion And Ad-Supported Revenue Model, Giving Artists, Labels And Fans Protection And Accessibility
Unique Business Model To Give Music Industry and Fans Secure and User-Friendly Way to Discover, Promote and Monetize Digital Content
SAN FRANCISCO, Calif. -- March 8th, 2007 -- imeem, one of the fastest growing media-centric social networks, and SNOCAP, the premier music technology company for direct artist-to-fan online distribution, have partnered on an innovative new model that facilitates artist promotion and new music discovery while respecting the rights of content owners and ensuring that they are properly compensated. Using SNOCAP’s proprietary Digital Registry and content identification platform, the new service will provide content owners, such as music labels and artists, direct control over their content – if they allow it to be streamed over imeem, they will earn income through an advertising revenue share.
“imeem is committed to ensuring that everyone in our community, including artists and their fans, can express themselves through their content. Our partnership with SNOCAP is a big step forward in protecting fans' access to an incredible array of music, videos and art, while extending that same protection to the artists and labels that deliver the content that their fans love," said Dalton Caldwell, founder and chief executive officer of imeem. “Our partnership with SNOCAP brings a trusted content identification and registry system to the imeem business model and will allow us to offer a user-friendly way for content owners and artists to control their content and monetize it. We are excited to be working with SNOCAP and believe we’re going to help change the way social media can benefit both the artist and their fans.”
Large and independent music labels, as well as independent artists, will be able to tap into imeem’s rapidly growing online community to selectively promote their content via streaming, and also earn income through advertising revenue share. The SNOCAP technology will automatically identify content uploaded by imeem users, determine if the content is permitted for streaming by the content owner, and then distribute a pro-rata share of the advertising revenue to the proper content owners.
SNOCAP’s registry authenticates against over three million tracks with known owners who have set their own business rules. All of SNOCAP’s registered labels and unsigned artists will be invited to include their content in this innovative new business model on the imeem service.
“SNOCAP’s mission is to enable artists and labels to maintain creative control of their music in a quickly evolving digital world,” said Rusty Rueff, chief executive officer of SNOCAP.” This partnership with imeem provides a dynamic new outlet where SNOCAP registered artists will be able to monetize their music and reach new audiences, while also providing copyright protection to the imeem community.”
“The writing is on the wall: music fans are listening to more music online than ever before,” says Ted Cohen, board member at imeem. “imeem has envisioned and built a unique and innovative way to offer amazing music recommendation and discovery features to music fans and also ensure that labels and artists can monetize their content on the web. In the digital music industry, we are all on the hunt for new business models that will create new opportunities for growth in consumption and revenue imeem and SNOCAP’s approach is a well-crafted model for the future of digital music on the web.”
imeem’s online community has grown rapidly to over 16 million monthly unique users since first launching its web-based service in early 2006. Since the web site launch, the company has focused on working closely with music labels and studios, in addition to independent artists and directors, to promote their content within the imeem community. Content promotion partners have included Virgin Records, Nettwerk Records, SubPop Records, Beggars Group, Domino Records, and Warner Independent Pictures. Music and video fans as well as bands, directors, and artists have become addicted to the creative imeem community where individuals or groups can upload, stream, tag, and create playlist (and purchase when available) content from any type of media content – from music to photos to video to blogs.
imeem and SNOCAP are working in conjunction with content owners including major and independent music labels to implement the new content filtering and monetization program during the second quarter of 2007.
ABOUT IMEEM
imeem is an innovative media-centric social network focused on creative expression and discovery. imeem enables its user community to upload, stream, and recommend user-generated video, audio, photos, blogs, and playlists all from one place, attracting an independent and diverse music, video, photo and blog community. The company is located in San Francisco, CA, and launched its web-based service in March 2006.
For more information, visit www.imeem.com
ABOUT SNOCAP
SNOCAP’s pioneering service for registering digital content and managing online distribution makes it easy for artists and labels to sell music directly to their fans over the Internet, creating a more vibrant digital music marketplace. Using SNOCAP’s MyStores, independent artists can sell their music on any website and via online retailers anywhere, anytime, while remaining fully in control of the licensing and rights. SNOCAP’s exclusive partnership with MySpace powers the digital storefronts for thousands of artists on the popular social networking site.
In addition to MySpace, SNOCAP provides digital music and technology services to the Universal Music Group, Warner Music Group, SONY BMG MUSIC ENTERTAINMENT, EMI, The Orchard, CD Baby, TVT Records, Artemis Records/Sheridan Square Entertainment, Beggars Group, InRadio, Koch Records, Merlin, Nettwerk Records, Matador Records, One Little Indian Records, ReverbNation, Ryko Group and an extensive roster of other leading independent labels. Founded by Shawn Fanning, Jordan Mendelson and Ron Conway in 2002, SNOCAP aims to be the trusted solution powering the global marketplace for digital media. The company is based in San Francisco, Calif.
For more information, visit www.snocap.com
Press Contact
Gina Olsen
415-762-0135
press@imeem.com
