The online music company that is MySpace with record labels on Tuesday completed the purchase of the site provider imeem songs, taking its 16 million users and its mobile applications for less than a million dollars.
In a message on the network, the chief executive of MySpace, Owen Van Natta said the deal would allow the MySpace Music joint venture eventually incorporate tools imeem.
One of the roles of absent imeem MySpace is a cell phone application that lets you listen without downloading songs through Apple Inc. 's iPhone devices and devices with the Android operating system from Google Inc. as the new smartphone Droid .
"In the coming weeks, our people will be working to take aspects of imeem that users love and bring them to MySpace Music," he said.
The music industry is still low CD sales, while revenue in the respective digital system has not covered the difference, in part because people prefer to buy singles instead of entire albums when they decide to pay for music.
Firms like imeem and MySpace Music lets people listen to and share music online for free, while revenue generated by advertising.
Imeem The company, headquartered in the U.S. city of San Francisco, began distributing free music in 2007, but advertising revenue could not support the debt payments and royalties, which drained the company money.
The price of under a million dollars is a bargain for MySpace and a sign of continuing difficulties in the free music distribution companies.
From imeem, CEO Dalton Caldwell, the chief technology officer Brian Berg, the chief operating officer Ali Akhdar and the vice president of sales David Wade will remain as advisors during the transition. It was not immediately whether they are permanent employees.
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