March 13, 2008

Free Music, Big Money

What does the music industry do now that customers won't pay for music anymore? So far, they flail. But San Francisco media social network imeem is pursuing an increasingly popular alternative: provide consumers with free, advertising-supported access to songs over the Internet. "If you monetize attention properly, it's a much bigger market because you're not monetizing consumer wallets anymore, you're monetizing brand advertisers," explains imeem Chief Marketing Officer and Head of Business Development Steve Jang. (Forbes)