It has been said a lot about music industry being to slow to react to changes in media landscape and media usage patterns. Distribution forms has changed drastically, the tastes of consumers are increasingly fragmented, there is never-ending parade of new producers, artists. Niche markets are blooming
The music industry pretend as nothing happened at all and they seem to be trapped.
Therefore it's good to see the project like Amie Street financed by Amazon.com. On Amie Street, the price for music is based on demand for the song. It starts from being free and the more people download the song the more it costs (up to $0,99). The artist keeps 70% of revenues after the first $5 in sales. Users are also rewarded for recommending the songs, they receive extra credits to spend on music.
The socially driven monetization is very good concept, as it gives its users the feel of supporting artists. Besides it builds on the people's need to experience the same things as other people. Great concept. Plus many good artists to discover and broaden your music taste.
Tags: Amie Street, music, social media
