MySpace Buys and Then Takes Down Imeem

Conchobair was one of several users letting us know that Myspace has snapped up free music streaming site imeem. Visitors to the imeem site are being sent to a MySpace redirect page, which states that they are "working to migrate your imeem playlist to MySpace Music." Currently there is no way to access imeem music or playlists or to make use of imeem apps on Android or iPhone. The AP reports that the deal was done for less than $1M — not bad for 16M subscribers — noting that the music startup was running out of cash. PC Mag notes: "Last week it was announced that Apple had purchased Lala, and now MySpace snaps up imeem. Are Pandora and Rhapsody next?"

Comments

Yet another free business going bust

[AcidPenguin9873]

Business charges $0 for its product, runs out of cash due to lack of viable revenue. Details at 11.

Unless you're Google and can sell tons of ads, "free" is not going to survive.

Re:who streams music?

[NoPantsJim]

I hate listening to the radio, so for awhile I tended to miss out on most new stuff. A couple of times, my absolute favorite bands released a cd without me even knowing because I wasn't paying attention.

Pandora fixed everything I hate about normal radio. Now I enter in all my stuff, and still get recommendations on new music. If I don't like a new song, I just skip it. Pandora has introduced me to many new bands which I love.

And yes, I have a massive cd collection, all ripped to mp3 and carried on my iPhone, so streaming does make sense for people with a large collection.