SnoCap Powers Ad Supported Streaming On imeem Social Network

Today was a busy day in the ad supported music world. First came Pater Gabriel’s** ad supported We7 announcing a deal with V2 and now Shawn Fanning’s ** SNOCAP has some news of their own…

Social networking site imeem today launched an initiative powered by SNOCAP to compensate artists through an ad-supported revenue share when their music is streamed on the service. It launches with three million tracks from labels like Nettwerk, Beggars Group, Matador Records, Om and XL a
nd artists such as Jimi Hendrix, Barenaked Ladies, Public Enemy, M.I.A., Thom Yorke, Sarah McLachlan, Belle & Sebastian, and Thievery Corporation, and distributors including IODA, The Orchard, IRIS, INgrooves and Redeye.

Imeem’s active user base is 16 million and the new program is open to any artist or content owner who would like to join. (press release)

** EDITORS NOTE:  Who do you think is a bigger star – Peter Gabriel for his gold records and WOMAD or Shawn Fanning for Napster?  I’ll bet I know who has more money…