Social network Imeem is integrating SnoCap's content identification and music registry to give members the ability to stream and discover music while providing labels a share in advertising revenue.

Unlike SnoCap's MySpace service, which allows artists to sell downloadable tracks, the Imeem deal is focused on streaming music. SnoCap says its system will identify which labels hold copyrights to the music Imeem members are streaming, and then compensate those labels with an appropriate share of Imeem's advertising revenues.

The exact share of advertising revenue, and how that share is to be determined based on music usage, remains unclear until SnoCap and Imeem finalize agreements with the various labels in which it is in negotiations.

Imeem has existing agreements with Virgin Records, Nettwerk Records, Sub Pop Records, Beggars Group and Domino Records to create artist-branded profiles on the site, some of which contain streaming music already, while others have 30-second clips.

SnoCap and Imeem are in the process of integrating the technology into the site and negotiating with record labels. They expect the service to go live in the second quarter.

The Imeem social network allows members to share photos, videos, blogs bosts, and streaming music either directly or through community playslists. The company claims 16 million members.

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