February 26, 2010

By By Glenn Peoples, N.Y.C.

MOG, a blog aggregation and music subscription service hybrid, has landed around $10 million in venture capital funding.

A report at paidContent says the money will finance an entry in the U.K. market this spring. Previous investor Menlo Ventures as well as European VC firm Balderton Capital participated in the round. In 2008, Universal Music Group and Sony BMG took part in a $2.8 million investment with other angel investors.

MOG announced a $5 million found of funding in August. The site began as an aggregation of music blog content - a sort of Huffington Post for music blog. In December, MOG launched a $5-per-month music streaming service that features the catalogs of all four major labels, indies such as IODA and Beggars Grou, and editorial content. iPhone and Blackberry apps are said to be in the works.

A post at GigaOm on the funding says MOG is extending its free trial period from one hour to three days in order to lure subscribers. Free trials are currently converting 17% of trial users to paying customers.

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