MySpace is in late stage negotiations to acquire music streaming service iMeem, so Techcrunch says. MySpace acquired that other music service iLike only three months ago. iMeem has financial troubles and has become an easy bird to shoot. If iMeem gets acquired by MySpace it’s pretty sure that the service will become paying as MySpace Music will soon be turning to subscriptions to manage costs.
Google is partnering with at least 4 online music services for its Google Music service (in fact nothing more than an enhanced search). There will streaming songs from LaLa.com, song samples from iLike.com, and song purchasing options from Apple’s iTunes and from Amazon MP3. Muztec learned that a 5th partner would also join, namely iMeem. Revenue from the service will be split between the music servics and the record labels as Google views the system more as a way to retain users rather than a direct revenue source.
The service will launch next week, October 28th. Looking at the ease that how major record labels wanted to join the service (not that they wouldn’t as they are already working with the named services anyhow), you can bet on it that they have high hopes for it. It remains to be seen if this new service from Google will deliver the traffic boost needed to get the legal downloadtrain on the correct track as far as revenue is concerned. Also, will it convince torrent seekers to switch to paying for what they request for free?
