Universal Music Group has invested an undisclosed amount in pop-culture social network Buzznet.
Beyond the financial investment, this means that Universal artists will post promotional blogs on Buzznet, and the social site will have access to the label's music and video catalog.
Last week, Buzznet CEO Tyler Goldman told CNET News.com tothat would bring more audio content to the site.
According to a release from the two companies, this is "one of the first times that a music company will be directly involved in developing editorial programming for a social-media site, with both companies sharing in the revenue."
It's more extensive than Universal's Imeem.; the label has licensed its catalog to MySpace.com , as well as to music-focused social-media site
With only 10 million active members--that's less than a tenth the size of News Corp.'s MySpace--Buzznet has some growth to do before it reaches its goal of being an MTV-caliber pop-culture influencer. The site has been aggressively bolstering its editorial content, acquiring music blog Stereogum and launching sister blog Videogum, with several hip blogging veterans at the helm.
Earlier this week, Idolator, from former owner Gawker Media.another music blog,
Goldman hinted that more partnerships with big media companies were on the way for Buzznet. That's good, because having a single label behind a community and editorial site is a bit questionable.
Let's hope that Universal's investment doesn't start tainting Buzznet's snappy editorial.