Swedish firm Snowfish has gone live with its plans for a social network on which users will be rewarded with a 50% share of the advertising revenue generated by their blogs and uploaded music, videos and photos.The company, staffed by a mixture of techies and music industry veterans, has been working on the site for 18 months. It's due to launch this Spring, and they're touting it as “the future of publishing”. They also claim users will be able to design and launch their personalised Snowfish sites in less than three minutes.Snowfish also hopes the site will become a talent pool for the music and other creative industries, with all manner of tracking and stats to identify the most popular content and users.”We don’t want to repeat what today’s social communities are already doing,” says CEO Ludvig Werner. “The launch of Snowfish will put the consumer in control. All of a sudden, everything has value!”The company says it has a number of advertising deals in place, and will pay out users' revenue share via PayPal on a monthly basis. It's certainly an interesting model, although whether it can tempt unsigned music artists away from MySpace and YouTube remains to be seen.The management board is certainly heavyweight, drawing execs from Live Nation, IFPI, HitPredictor/Promosquad, BMG Publishing, Hitfactory and iQube. It has offices in both Sweden and the US.
MidemNet 2009L Snowfish launches rev-share based social network
January 18th, 2009 by Music Ally