Users of social networking site imeem will now be able to freely use the entire music and video catalog of Universal Music group, the companies announced Monday.
Imeem, which allows its 19 million users to create and share media with other users without fees, operates with an ad-supported business model. It targets a 24 and under youth demographic.
This is a significant step forward for imeem and a defining moment for social networking and ad-supported music, Dalton Caldwell, founder and CEO of imeem said in a statement.
Content companies are taking steps to reconnect themselves to users after new web technologies bypassed decades-old music distribution channels through brick and mortar stores, triggering lawsuits over copyright infringement and piracy.
Leveraging the advantages of the web by making deals with technology business partners, the industry is trying to establish a foothold online to generate sales.
imeem has developed an innovative way to make our artists' music a central part of the social networking experience, Doug Morris, Chairman and Chief Executive Officer of UMG said in a statement.
More importantly, they've done so the right way -- by working with UMG to provide an exciting musical experience for consumers, while ensuring that our artists are fairly compensated for the use of their works.