Reblog: Warner Music Says Imeem Is Worthless, And Owes It $4 Million Which It Can’t Collect

As many of you know, I use imeem for my playlists. In general I use music streaming services quite abit. In addition to imeem playlists, I use lala and imeem to test new music. In fact, they've become crucial to my listening habits. Without imeem and lala, I would never have purchased cymbals eat guitars, while I probably would have purchased the new Conor Oberst album. In short, streaming services make me a better music fan for new artists and really improve my listening enjoyment.

Two interesting quotes from the post:

But the reason imeem is in such dire financial straits is because of the crushing payments to music labels it has to dole out for every song streamed from its site.

According to comScore, imeem’s U.S. traffic has come down about 25 percent off its peak last July. As of March, 2009 it was at 5.3 million unique visitors in the U.S. and 24 million worldwide. In the perverse world of music streaming licensing, the bigger your audience, the more money you lose.

Here's the tech crunch blog: http://www.techcrunch.com/2009/05/07/warner-music-says-imeem-is-worthless-and-owes-it-4-million-which-it-cant-collect/