Universal invests in Buzznet

Music label takes role in social media network

After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor.

Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the revenue.

In the past two weeks, Buzznet has acquired the blog Idolator and the music news/video site Stereogum.

Buzznet plans to deliver exclusive news and will have artists act as guest bloggers.

“We are always striving to push boundaries and expand the scope of our digital activities,” said Doug Morris, chairman-chief exec of UMG. “Our partnership with Buzznet fits perfectly into that strategy.”

Tyler Goldman, CEO of Buzznet, said the Universal partnership will allow the site to integrate audio, video and original content into Buzznet’s music communities.

Deal comes the day after Universal inked with PluggedIn to offer thousands of high-def videos on Pluggedin.com, joining EMI Music and Sony BMG at the site. PluggedIn went live Wednesday with its beta website, offering free-to-consumer streaming of more than 10,000 HD and broadcast-quality musicvideos.

Besides the labels, Will Smith’s Overbrook Entertainment has invested in PluggedIn.

More Scene

  • Carter Hudson, John Singleton, Angela LewisFX's

    John Singleton on Disney-Fox Deal: 'You Gotta Let FX Be What It Is'

    After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor. Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the […]

  • Kevin Durant Lindsey Vonn

    Kevin Durant, Lindsey Vonn to Keynote Variety's Sports & Entertainment Breakfast

    After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor. Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the […]

  • Cher and Meryl Streep'Mamma Mia! Here

    How the Cast of 'Mamma Mia! Here We Go Again' Geeked Out Around Cher

    After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor. Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the […]

  • Demi MooreComedy Central's Roast of Bruce

    Demi Moore Appears as Surprise Guest at Bruce Willis' Comedy Central Roast

    After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor. Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the […]

  • Outfest Filmmakers Get Political, Issue Call

    Outfest Filmmakers Get Political, Issue Call to Action on Opening Night

    After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor. Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the […]

  • Bob Woodruff Foundation Acquires Veterans Org

    Bob Woodruff Foundation Acquires Veterans Org Got Your 6

    After acquiring two significant music-related websites in the past two weeks, social media network Buzznet has signed on Universal Music Group as an investor. Move is believed to mark the first time a major music company has taken a role in developing editorial programming for a social media site; both companies will share in the […]

More From Our Brands

Access exclusive content