Jamendo attracts VC funding
Mike Linksvayer, July 17th, 2007
Jamendo allows users to listen and download for free more than 40.000 DRM-less music tracks under Creative Commons license. So far, 3 million albums have been legally downloaded from the Jamendo platform, which currently counts 500.000 unique visitors per month. Since January 2007, Jamendo offers to its artists a Revenue Share program: half of the advertising revenue are shared with the registered artists.
Laurent Kratz Founder and CEO of Jamendo commented: “We are very proud to welcome Mangrove as a new shareholder in our company. We share the same vision of the future of music. With this funding, we plan to become the undisputed global player of free music. More than a music sharing platform we are economically supporting and promoting the long tail of music. We have a proven business model where music is not only proposed for free to end consumers but we are also closing an increasing number of partnership agreements and licensing deals.”
Exciting stuff. But if you’re more interested in the music, Jamendo is nearly at 4000 albums. One I’ve been enjoying recently is Devon Miles – Nine Hundred, supposedly “noisy emo math rock”, licensed under Attribution-ShareAlike. The track “Crash Into June” is particularly catchy.