Amazon.com Leads The Way in Amie Street Financing

Amie Street is a social music marketplace and it has just closed a round of financing with the internet giant, Amazon.com.

The amount of financing and the terms have not been disclosed.

As Amazon has made an investment in the Amie Street business model, it show they are fans of the unique was that Amie Street operates its business.

Unlike iTunes or other music download services, music tracks are not sold for a flat rate on Amie Street. The cost of the track depends on its popularity, the more popular a track is, the more it will cost. The maximum a track can cost in $0.99 but if you see a $0.30 track you know that its popular. The artist can keep 70% of all revenues after $5 in sales.

What do you think of Amazon.com investing in Amie Street?

Source

CLICK HERE to keep updated with the latest news, share a comment or problems with products and services. Follow us on twitter or read more news.