As an amendment to my previous mention of the MTV-RealNetworks mobile music service joint venture, here's some information (via paidContent) on the deal. RealNetworks filed a Form 8-K that contains some specifics on the financial side of the venture. This looks like a marriage of necessity for RealNetworks (which needs to expand Rhapsody's mobile subscriber base and needs a big checkbook) and one of very few options for MTV (URGE has faltered, and mobile subscription has got to be a big strategy for the Viacom-owned company).

The joint venture is a limited liability company agreement. MTV will contribute a five-year, $230 million note, and RealNetworks will be obligated to buy $230 million in advertising on MTV cable channels -- which will include integrated marketing -- over five years. Real will control 51% and MTV will control 49%. Neither can transfer their interests for five years, and MTV gets a right of first refusal if Real decides to sell its interest. Expectations for 2007 revenue are between $2.5 and $3.5 million.

Here are some sections of the filing.

• "The assets contributed by Real generally consist of its Rhapsody service subscribers, a cash contribution, certain employees, contracts, revenue from existing Rhapsody subscribers, marketing materials, player hardware, rhapsody.com and related URLs, and distribution arrangements."
• "Real will also license certain assets to Rhapsody America, including Rhapsody content, the Rhapsody brands and related materials."
• MTVN will contribute cash, a five-year note for $230 million and other assets, including its existing URGE subscribers and marketing materials.
• "MTVN will also license certain assets to Rhapsody America, including URGE content, brands and related materials."
• "Real expects the formation of Rhapsody America to generate incremental revenue of approximately $0.5 million for the third quarter of 2007 and approximately $2 to $3 million for the remainder of 2007."

[music jobs] Director of Content at Dada Entertainment; New York, NY.