If you have been reading our blog, you may have read that we went to EconSM a couple weeks back. There, Dalton Caldwell, CEO, of Imeem said that they are currently not profitable, but they do have a long-term plan. He also briefly mentioned that in the near future they are going to allow developers to create applications on the site (you know like facebook apps, but on imeem) and allow them to use the site’s music within the apps (cuz they have the license to do so). Well, this was officially announced yesterday, see “Imeem Adds OpenSocial to Media Platform”.
I think this is particularly interesting for brands that want to use music to define their brand, reach out to their target audience, and create a cool, fun application. Could be anything right? A game, a video, really anything that combines the brand with the music on the site. I am sure there will be some cool ideas that come out of this.
However, maybe Imeem should charge developers (or brands) to use the music. But maybe this is in their long-term plan on becoming profitable. Because, really, aren’t the musicians going to want a kick back too? Well, I want the music industry to start making money again, so my vote is charge ‘em.
And for your thirsty mind, check these stats out:
More info on music industry stats here.