Two record Labels to invest in social music site

I haven't spent much time on the social music sites lately (last.fm, ilike.com, imeen.com), but I do have a membership at MOG. Techcrunch is reporting today that Universal and possibly Sony are part of a $2.8 million dollar round of financing for the growing music community. This should bring even more music to these free sites. My worry is the music is becoming completely devalued, at one point a great song was a shared experienced, now music seems to becoming background clutter mashup of ringtones, commercials and festivals.

read more at Techncrunch