Indie Snocap users losing out from MySpace/Imeem deal
MySpace finally completed its acquisition of music service Imeem last week for a reportedly super-low sum. However, it seems that indie artists won’t be seeing a payday from the revenues they were owed from sales of their music through Snocap widgets – Snocap was bought by Imeem last year, remember.
MySpace only bought the Imeem domain name, technology and trademarks, it turns out. “MySpace Music did not acquire imeem’s outstanding debts, including the money imeem owed to artists under the Snocap relationship,” confirms a spokesperson.
Some bands are reportedly owed up to a year’s worth of revenues. Usually it’s consumers who get stiffed when a digital music service shuts down – e.g. stores that have sold DRM’d tracks. In this case, it appears to be artists who are losing out.
December 14th, 2009 at 2:19 pm
[...] 1 votes vote Indie Snocap users losing out from MySpace/Imeem deal MySpace finally completed its acquisition of music service Imeem last week for a reportedly [...]
December 14th, 2009 at 9:03 pm
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