Amazon invests in social music site

AmieStreet — Amazon invests in social music siteVentureBeat reports that Amazon has invested an undisclosed sum in AmieStreet.com. The social music site has a unique business model where all songs start off free and rise in price — up to 98 cents — the more they are purchased. Anybody can upload their music to AmieStreet (tracks are sold as DRM-free MP3s) and artists keep 70% of any revenue generated from sales. The site also reward fans when they recommend songs to their friends by giving them credit to buy more music, creating a social network around music discovery.

Last week we pitched Amazon as an underestimated player in the battle for the digital living room, noting properties such as the video on-demand service, UnBox, as well as their soon-to-be launched digital music store. Add into the mix user-generated review sites such the Internet Movie Database (IMDB), Digital Photography Review, and Amazon.com itself, along with today’s news of its investment in a social music site, and its clear that the e-commerce giant knows more about our digital lifestyles than ever before.

last100 is edited by Steve O'Hear. Aside from founding last100, Steve is co-founder and CEO of Beepl and a freelance journalist who has written for numerous publications, including TechCrunch, The Guardian, ZDNet, ReadWriteWeb and Macworld, and also wrote and directed the Silicon Valley documentary, In Search of the Valley. See his full profile and disclosure of his industry affiliations.

6 Responses to “Amazon invests in social music site”

  1. David Mackey says:

    I’d forgotten about this sight. Time to take another link. What do you use to handle the related posts?

  2. Steve O'Hear (editor) says:

    A wordpress plug-in called “related posts” I think.

  3. Ryan Wagner says:

    Amie Street is an awesome site that I use regularly. Such an investment from Amazon could give more artists the motivation needed to put their music up there. I would love to see Amie Street as a tab on Amazon’s homepage as well.

  4. Lauren says:

    If you like Amie Street, you might want to check out Tuneshout.com. While it is smaller, it has the same philosophy and a well-designed site.

  5. Amazon has a done a wise thing by investing money in a Social Music Site……

  6. What a great concept. It was really worth it to check it out 😀

Leave a Reply