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Wanna Widget? Music Widgetmaker Grabs $2 Million
San Francisco-based trueAnthem has now grabbed $2 million from angel investors, according to details surfacing Monday. The newborn company specializes in ad-supported music widgets, and has already pumped out products for Nine Inch Nails, Ultraviolet Sound and Hootie & the Blowfish, among others.
Participating artists can layer paid downloads or streams within their widgets, and trueAnthem offers fans a choice between a straight, 99-cent paid download or a free, ad-supported version. In total, trueAnthem has already produced 5,000 brand-sponsored widgets, including a recent Adidas-branded widget for Ultraviolet Sound. "Today, the artist has become the brand and free is the revenue model of the future," explained trueAnthem chief Brad Barnes. "The key has been how to monetize this emerging dynamic."
Permalink: http://www.digitalmusicnews.com/stories/072808anthem
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