IMVU Launches World's First Truly Social Music Service
Take Turns Playing 'DJ' with Your Friends in 3D
PALO ALTO, Calif., November 11, 2008 -- IMVU Inc. (ar.imvu.com), an online destination where adults and teens meet new people in 3D, today announced the launch of IMVU Music which, for the first time ever, allows users to discover and share their music in a social 3D environment. Unlike existing virtual worlds and online music services, IMVU enables members to buy songs, create playlists, and listen to them with other IMVU members. Over the last four years, the IMVU community has grown around the use of online three dimensional characters, called avatars, to meet new people from around the world. IMVU Music is different because it allows for a truly social music experience as users bring their personal avatars and music into a 3D room, where they can share and discuss the music they hear together.
"IMVU Music makes the 3D experience even more compelling," said Cary Rosenzweig, CEO of IMVU, Inc. "People can have their avatars dance to the music or talk about the music. Music helps people be more expressive and emotionally engaged."
How It Works
The new music service is the result of IMVU members' requests to have their 3D virtual rooms seem more like their real world apartments or homes, where they can play music they choose to set a mood and have fun with their friends. IMVU members can now enjoy music they choose and hang out with friends in their own private room or go to chat rooms, where members can share their playlists, discover new artists and make new friends.
IMVU members can also purchase DRM-free downloads of songs from the extensive available catalog provided by IMVU so they can listen to those songs on a wide range of devices, including iPod and MP3 players.
Established Artists and Independent Music
IMVU Music offers members access to music from all four major music labels (EMI, Sony BMG, Warner and Universal). In addition, IMVU gives access to a huge selection of independent music to appeal to its highly creative audience. Independent music distributors include IODA, Redeye, GetUPlayed, Tunecore, Iris, Song and the top artists from CDBaby. This means independent artists such as Liam Finn and Danielson Famile have an opportunity to get exposure within the IMVU community. IMVU launched with over one million songs in its catalog and will continue to grow the selection.
"IMVU is already generating $1 million in revenue per month through our unique micro-payment economy," said Kevin Dasch, Vice President of Finance and Business Development of IMVU Inc. "IMVU Music will help grow the business, and I'm excited to see how IMVU members will respond to this very innovative feature."
Founded in 2004, IMVU Inc. (ar.imvu.com) is an online destination where adults and teens meet new people in 3D. IMVU won the 2008 Virtual Worlds Innovation Award and was also named a Rising Star in the 2008 Silicon Valley Technology Fast 50 program. Still in public beta, the company has already reached major milestones, including 25 million registered users, 100,000 registered developers and $1 million in revenue each month. Members of IMVU have fun meeting new people with similar interests and expressing themselves through personalizing their 3D avatars, digital rooms, music and home pages. IMVU offers the world's largest digital goods catalog with over 1.8 million items. Over 90 percent of IMVU's revenue is from the direct sale of virtual credits, used to purchase digital products. IMVU is backed by top venture investors Menlo Ventures, Allegis Capital and Bridgescale Partners and is located in Palo Alto, CA.