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Guvera Raises $20M More For Ad Supported Music

MELBOURNE, Australia (Hypebot) –
Australian based Guvera has raised any additional $20 million for its ad supported music service. A U.S. launch is expected in 2010. That's in addition to $10 million raised earlier, Guvera CEO Claes Loberg told TechCrunch.

Late last year Guvera signed U.S. deals with Universal, EMI and IODA for its service. On Guvera, users can search for a specific song, artist or genre. From the list of results, Guvera displays a list of brands willing to pay for them. The consumer clicks on a brand and is taken to a branded channel where they can download or stream the music free without DRM.

Despite the tough economy, Guvera is hoping that advertisers will see the benefit of creating their own custom branded channels, housing relevant music and showcasing their brand's personality.

"We are impressed by Guvera's unique approach to the concept of brand channels. By tailoring music to brands instead of just placing ads around music, Guvera creates a new way to meet the goals of all parties involved," commented Kevin Arnold, founder and CEO of IODA. "Guvera's experience provides an alternative for consumers looking to legally download music."