Young Entrepreneurs - Amie Street
January 18th, 2007 by digerati
From Business Week.
Elliott Breece, Joshua Boltuch, Elias Roman
Amie Street
www.amiestreet.com
Providence, R.I.
Ages: All 22
Another way to market and sell independent music? Amie Street, an online music retail site for independent content, uses a unique rating system where all songs are available for free at first. Then, depending on how popular a song is within a market, it goes up in price. The site tries to engage users by giving them a set number of recommendations and rewards them with a set amount of free music they can download when their recommendations do well. “We try to turn every user into a talent scout,” says Elliott Breece, co-founder. The Amie Street guys keep 30% of each sale, giving 70% back to the artists.
The site, which launched in October, was founded by a group of three Brown University graduates. Since then Breece says a community of around 6,000 users has glommed onto the idea, recommending and buying 30,000 tracks, inspiring confidence in the company’s goal of becoming the premier destination for purchasing independent content online.
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