TrueAnthem Tunes In $2 Million
Internet-based music label TrueAnthem has raised $2 million in new funding. TrueAnthem — only in its fourth month of existence — focuses on delivering artists’ music at no cost through its own TrueWidget platform. The widget is placed on the artists’ social network pages and made available for users to pull over to their own pages as well.
It’s an interesting concept in the day of closely guarded rights and constantly monitored filesharing: In addition to letting you stream an artist’s music, TrueAnthem offers you the option to download individual tracks or complete albums for free. The free versions come with a brief embedded ad at the top — or, if you want to pay the standard 99 cents per song rate, you can get the tracks ad-free.
TrueAnthem has about 5,000 active widgets around the Web right now. Bands on its roster include acts such as Nine Inch Nails, Hootie and the Blowfish, and Ryan Huston. The company, based in San Francisco, says it’s seen a 500 percent increase in usage since its April launch.
