Lockerz, the fast-growing Seattle social networking upstart targeting teens and twenty somethings, has inked a deal with EMI Music to distribute thousands of videos from artists such as Coldplay, Lenny Kravitz, Beastie Boys and more. Of course, you can already watch many of those videos on YouTube or other online channels.
But, here’s the interesting twist with Lockerz: Each time a member of the service watches a video, they earn the company’s currency, known as PTZ. Users can redeem the PTZ for dry cleaning, restaurants, concert tickets and other goods and services.
That’s right. You essentially get paid in the digital currency to watch music videos. I just gave it a try and wracked up a whopping 2 PTZ for watching the Norah Jones video for “Chasing Pirates.” After viewing the video, a cash register sound indicates that you’ve earned the PTZ. (My tally now stands at a whopping 508 PTZ, just enough to earn a free medium French fry from McDonald’s).
The point system varies depending on the video. For example you can earn 6 PTZ for a video from the Pet Shop Boys and 10 PTZ for a video from The Beastie Boys.
“At EMI, we’re always looking for new means to bring music and consumers together,” said Michael Abbattista, EMI Music’s Vice President of New Channel Development. “Partnering with Lockerz gives us an opportunity to reach music fans with great video content in a new and innovative way.”
In addition to the new alliance with EMI, Lockerz also announced that it is opening the social network to non members who can view photos and videos on the site. You must be registered to earn PTZ, with non-members prompted to do so prior to participating in the entertainment offerings on the site.
The company — which just raised $36 million from DAG Ventures, Live Nation and others — boasts 45 million monthly visitors. It also just completed a redesign of the site, divided by entertainment, shopping, photos and “my stuff.”
By opening up the content offerings to non-members, that user base is likely to continue to grow.