December 9, 2009
IMEEM Sold to MySpace
In what seems to have been a surprise turn of events, imeem music site has been sold to Myspace for under $1 million. The site is a popular venue to legally listen to new (and old, too, now that I think about it) music.
Users could make playlists of their favorite songs and listen to them streaming online for free by using Imeem; all they had to do was to sign up for an account with the site.
Now when you try to go to http://www.imeem.com, you will be redirected to www.myspace.com/imeem, and will be greeted with a message: “imeem users, welcome to MySpace Susic! imeem is now part of MySpace Music.”
One beneficial factor—for MySpace—for acquiring imeem is that imeem has a mobile application, which is something that MySpace didn’t have. They will be able to work with imeem engineers to produce more mobile applications to link MySpace Music and imeem together.
It’s not so much that the sale of imeem to MySpace is surprising, but the price tag is. The music industry has been suffering for awhile now, but it seemed as if the legally-streaming websites (such as imeem or Pandora) were on the rise. Apparently not.
Will you be sticking with imeem through the transition from its own site to being under the MySpace umbrella?
Posted by Shaane at 7:00 am