Amie Street Debuts Radical New Music Platform
for Independent Artists and Fans
Company Shakes Up the Music Industry with First
Community-Driven Pricing, Promotion and Discovery Model
Providence, RI - October 4, 2006 - Amie Street, a new online music community that’s changing the way people discover and buy independent music, today launched the beta version of its fast-growing music community website that brings together undiscovered artists and prospective fans. Founded last spring by three Brown University seniors, Amie Street is the first site that lets the members of the community set the price of songs, which start out free and rise in price based on sales.
Amie Street also rewards its members with purchase credits when they recognize and recommend music tracks that rise in price. As more people are looking for alternative ways to purchase music online, Amie Street (pronounced like the name “Amy”) has come up with a novel solution that combines the best elements of social networking, online music retail and discovery engines.
“We designed Amie Street to help independent and emerging artists promote and sell their music in a unique, fan-driven social environment,” said Elliott Breece, CEO of Amie Street. “We hope musical artists of all types will find our site to be a refreshing platform that makes it easy for fans to discover and purchase their music.”
Amie Street’s business model gives users an incentive to find and recommend good music, while allowing bands to promote and sell their music for free. The company’s dynamic pricing model brings value to unidentified music by using a pricing formula that is dynamic and community responsive. Artists keep 70 percent of proceeds after the first $5 in sales, which cover Amie Street’s maintenance costs (if they never reach $5, no fee is charged). The company will also generate revenue through corporate sponsorships on the website, concerts and other events.
Amie Street has already attracted several thousand members and collected thousands of tracks by reaching out to quality independent artists to help launch the site. Amie Street’s demand-driven pricing model encourages members to discover and buy independent music because the community sets the price of every song. The company’s recommendation (REC) system provides an effortless promotional tool for artists, and a great deal for music fans who can discover new music that they never would have found otherwise.
About Amie Street
Launched on July 4th by three Brown University seniors, Elliott Breece, Josh Boltuch and Elias Roman, Amie Street is the first online music community designed to discover and promote independent artists. Amie Street helps increase exposure and revenue for new artists through an innovative, demand-driven pricing model based on recommendations by, and rewards for, members who endorse their favorite music on the site.
