Music-focused social networking destination iLike has now reached 500,000 subscribers, according to a company announcement issued Wednesday.
The company is part of a growing sector, one that also includes upstarts like Last.fm and MOG. “It is tremendously validating to see the explosive growth in our traffic,” said Ali Partovi, CEO of the upstart. “We are thrilled that more than half a million people have selected iLike to be their music community and we are excited to deliver our new features that will enhance their experience.” Also excited is Ticketmaster, which invested a healthy $13.3 million in the service in December. That offered the company a 25 percent share in the company, and considerable sway over the strategic course charted by the Seattle-based startup.
The iLike system wisely includes an iTunes add-on, a feature that allows users to easily share playlists and actively save wishlists. The sidebar analyzes the music being listened to and spins recommendations from both signed and unsigned artists. Users can also download free MP3s directly from the Sidebar, or click to buy music from the iTunes Store. The company reported that more than 50 percent of logins result in a purchase, or the filing of a song in a wishlist for purchase consideration later. iLike has also released a limited preview version of the Sidebar software for Windows Media users, and a MySpace add-on allows users to display and play favorite playlists. The latest subscriber tally comes just four months after the concept was launched.
Story by news analyst Alexandra Osorio.