Buzznet has been busy the past couple of months. The company has managed to secure some $25m in fresh funding, and it has so far acquired a number of entities, including Qloud, a creator of Web-based music applications, the former Gawker Media property Idolator, and Stereogum. Today we hear of Buzznet’s new partnership with Universal Music Group.
Universal, which purchased a portion of equity in the social media site, along with other investors, will be “directly involved in developing...programming,” and will ensure that its music and videos will be “uniquely interwoven into Buzznet’s daily editorial, as well as thousands of blog posts.” Many planned stories, which will include news exclusive not found anywhere else on the Web, will be in the form of guest submissions from artists themselves. Both Buzznet and Universal will also share revenue from their collaborations.