Music service Imeem has responded to a report on TechCrunch that it may shut down in the face of $30 million of licensing payments owed to labels. “TechCrunch’s $30m number is not only wrong, it’s preposterous,” says VP of marketing Matt Graves. “We don’t now owe, nor have we ever owed, that amount of money to the labels.”However, Graves confirms Imeem wants to restructure its licensing deals. “The economy and the world have changed, and just as we’ve renegotiated our bandwidth bills, ad-serving deals, etc, to take into account the new economic realities, it makes sense to do the same with our content deals.”Its licensing rates were negotiated back in 2007, although guesses as to how much Imeem is paying labels per stream vary from $0.004 to $0.01.
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