Post-Imeem, MySpace Music Is Suddenly the Bad Guy…
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Imeem was dead-and-gone, and plucked from the ashes by MySpace Music. So why is MySpace getting such a bad rap? Perhaps anger is simply an irrational beast, one that feasts on the easiest and most visible scapegoat. Outside of the industry, fans and bands appear mostly uninformed about the factors that led to Imeem’s shutdown, and MySpace Music - the only party still standing - is now weathering most of the blame.
And the situation is getting worse. After an abrupt transition and redirect last week, Imeem users and artists were shocked to find their accounts wiped away, and a storm of criticism erupted.
The latest round is being fueled by Wired, who discovered that more than 110,000 artists with Snocap-powered stores will not be paid. Most of these accounts are small, though in the aggregate, they may add up to something substantial.
So what happens next? MySpace Music is currently attempting to resuscitate Imeem user accounts and playlists, though artists will remain unpaid on their Imeem balances. The reason is that MySpace did not acquire the liabilities that Imeem held, often the arrangement in fire-sales of this sort. “MySpace Music did not acquire Imeem’s outstanding debts, including the money Imeem owed to artists under the Snocap relationship,” the company flatly told Digital Music News.
This story has been provided by our content partner Digital Music News.
Posted In: Entertainment, Music, Companies, News Corp., MySpace, imeem
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