London
– We7, a U.K.-based streaming music service backed by musician Peter Gabriel, announced
on Wednesday that in the past month it was for the first time able to cover
costs associated with licensing the music it streams from its site through
advertising. The company, which recently signed a display ad deal with Yahoo
and counts some 3 million users, noted that its model has been able to outlast
ad-supported rivals including imeem, SpiralFrog, iLike, Lala and Ruckus —
which have either shuttered or been acquired.
Related Links:
http://www.we7.com/about/press/stories/we7-shows-ad-funded-music
