Headlines

April 17, 2008

Variety on Universal Music's Buzznet/ Stereogum/ Idolator buy-in: 'the first time a major music company has taken a role in developing editorial programming for a social media site'

The Daily Swarm | Read Full Story >

Variety:

After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor.

Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the revenue.

In the past two weeks, Buzznet has acquired the blog Idolator and the music news/video site Stereogum.

Buzznet plans to deliver exclusive news and will have artists act as guest bloggers.

“We are always striving to push boundaries and expand the scope of our digital activities,” said Doug Morris, chairman-chief exec of UMG. “Our partnership with Buzznet fits perfectly into that strategy.”

Tyler Goldman, CEO of Buzznet, said the Universal partnership will allow the site to integrate audio, video and original content into Buzznet’s music communities.

EARLIER:

Idolator and Stereogum are now Buzznet BFFs… Nick Denton ‘more or less giving away’ lowest performing sites…

Interscope buys stake in Stereogum parent company…other ‘content acquisitions’ coming as Buzznet pursues more music blogs…

Stereogum ‘flipped’ for $5 million…

Idolator: Gawker’s ‘low-volume’ music site for sale?


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3 Comments

#1 moma says:

doug morris is the devil!

#2 Adelsonson says:

So, if you liked HITS you'll love "The New Idolator". Gag.

#3 CL says:

As if Stereogum didn't suck enough.


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