Universal Music's deal with imeem by Ivana Mikusova

Universal Music Group has joined the other tree major record labels which have already signed a licensing deal with social networking Web site operator imeem inc. This is a great thing which lets all users to upload and stream music and music videos for free. It was quite a necessary step forward because nowadays people don't buy CD's; they just download the songs or videos which they want. Why pay for it? They do it illegally. These are the facts. Everybody knows that this is happening. Recording companies do as well. This causes that the revenues of these companies are getting down and so they have to find a new source of money. So imeem will carry full-length music and videos by artists of that four major record labels and record companies will share of online advertising revenues. One thing that is necessary to say something about is competition. Imeem site claims to have more than 19 million active users. Quite good you may say, but don't forget about the other major sites like YouTube or MySpace. But anyway I understand that. We live in hard times and if you don't remove the competition, they will remove you. On the other hand, it is necessary to cooperate, because only two can achieve more than one.

by Ivana Mikusova for PocketNews (http://pocketnews.tv)

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