Get hooked up with AT&T ConnecTechAs expected, Buzznet inks a major music label deal
Universal Music Group has invested an undisclosed amount in pop-culture social network Buzznet.
Beyond the financial investment, this means that Universal artists will post promotional blogs on Buzznet, and the social site will have access to the label's music and video catalog.
Last week, Buzznet CEO Tyler Goldman told CNET News.com to expect a partnership announcement that would bring more audio content to the site.
According to a release from the two companies, this is "one of the first times that a music company will be directly involved in developing editorial programming for a social-media site, with both companies sharing in the revenue."
It's more extensive than Universal's partnerships with other social networks; the label has licensed its catalog to MySpace.com for its MySpace Music endeavor, as well as to music-focused social-media site Imeem.
With only 10 million active members--that's less than a tenth the size of News Corp.'s MySpace--Buzznet has some growth to do before it reaches its goal of being an MTV-caliber pop-culture influencer. The site has been aggressively bolstering its editorial content, acquiring music blog Stereogum and launching sister blog Videogum, with several hip blogging veterans at the helm.
Earlier this week, Buzznet announced that it had purchased another music blog, Idolator, from former owner Gawker Media.
Goldman hinted that more partnerships with big media companies were on the way for Buzznet. That's good, because having a single label behind a community and editorial site is a bit questionable.
Not only does Buzznet own music blogs like Stereogum and Idolator, but it also has deep partnerships with irreverent gossip blogs such as A Socialite's Life and Just Jared.
Let's hope that Universal's investment doesn't start tainting Buzznet's snappy editorial.
Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos. E-mail Caroline.
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