THE ORCHARD TEAMS WITH AMIESTREET.COM TO MAXIMIZE DIGITAL SALES WITH DEMAND-BASED PRICING
Popular Indie Labels Including Surfdog, Vice Music and Decon Media Among the First to Embrace Fan-Driven Pricing
New York, NY (June 25, 2008) The Orchard (NASDAQ: ORCD) and AmieStreet.com announced a partnership today that brings one of the world’s largest and richest digital music catalogues to one of the newest and fastest growing digital music stores.
The partnership is a significant validation of the consumer-empowering business model AmieStreet.com is pioneering. On AmieStreet.com, songs are priced based on their demand, and customers receive money for more downloads when they recommend their favorite songs. By allowing consumers to drive the price of music, a song’s price becomes a measure of its popularity, enabling people to discover new music with more ease and convenience.
Specific terms of the deal were not disclosed.
A global leader in digital music and entertainment, The Orchard represents over 1.1 million songs from record labels and individual artists. The Orchard’s label partners that have embraced the AmieStreet.com model include Temporary Residence, Daptone, Dim Mak Records, Vice Music, Surfdog, Audio Dregs, Huume Records, Decon Media, Chocodog Records, Gern Blandsten Records, Park The Van / Cornerstone RAS, Up Above Records, Lookout Records, Ernest Jenning Record Company, and Truth & Soul LLC.
“AmieStreet.com is building a community of users who value new music and discovery, and the company’s innovative pricing approach both harnesses natural market dynamics but also, is engaging to music buyers. We welcome them as a client and as a premier distribution outlet for our label partners,” said Greg Scholl, President and Chief Executive Officer of The Orchard.
AmieStreet’s Chief Content Officer Peter Asbill said, “The Orchard is an industry leader and a very important partner for us, and having their music available on AmieStreet.com is a crucial next step toward our goal of becoming the destination to discover new music.”
