p2pnet news | music:- Indie download site AmieStreet.com says it’s completed Series A financing, “led by Amazon.com”.

No details are given.

With this in mind, is $1, or a fraction under that, fair and reasonable for an MP3 download whether it’s by an established artist or an unrecognized independent?

Judging by the way music lovers are flocking to the P2P networks and ignoring the corporate offerings, priced at $1, it isn’t.

But this has become the standard and many indie download services, as well as many musicians, unhesitatingly post .99 cents as the rate.

AmieStreet.com has the same ultimate price in mind, but gets there differently.

Anyone can upload and all songs are DRM-free, downloads kicking off at zero cents.

But the more popular a given tune becomes, the higher the price until it’s driven to .98 cents, and there it stops. And, “For recommending their favorite songs to their friends, members are rewarded by receiving credit for the purchase of additional music,” says AmieStreet.

Artists keep 70% of proceeds after the first $5 in sales, which cover Amie Street`s storage, maintenance and bandwidth costs (if they never reach $5, no fee is charged), say the owners, also stating they plan to generate additonal income from corporate sponsorships on their site, concerts and other events.

Great idea. Pity about the .98 cents.

“In conjunction with the announcement of its Series A, AmieStreet.com is debuting releases from Audio Bee, Daptone Records, Nettwerk Music Group, United For Opportunity (UFO), Dualtone Music Group, RoyaltyShare and INgrooves,” they say.

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Also See:
fair and reasonable – Blanket online music licensing, April 28, 2007

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This entry was posted on Monday, August 6th, 2007 at 10:35 am and is filed under Music. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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