Amie St Hits the Nail on the Head
Amie St has launched the Fantasy Record Label application on Facebook (AlleyInsider). This application is extremely well made and obviously thoroughly thought out. The application provides users with a selection of music that they can browse through and rate. Users can also choose to add songs to their own fantasy label that gets ranked based on the performance of songs in their portfolio. In comparison to other sites like Garageband.com, this site actually gives users an incentive for success.
Points can be used to get credit for purchasing songs on the Amie St. Currently, they haven’t stated what the cash value of points are so it’s hard to determine how much time must be spent to earn a free song. On their website, Amie St has used a successful model of allowing market forces to determine the price of a song. While that model is good for finding musicians that are successful at selling music on Amie St, perhaps this new model will be helpful in predicting successful artists earlier on.
I had tried developing my own social network around music 6 years ago and all of these models were new models for the music industry. Since then, not much has changed but the algorithms have become more effective (see Pandora). Whether or not this model will work, I’m not sure but it was sure successful at getting me listen to a number of songs. If you want to try creating your own music label on Facebook, go grab the Fantasy Record Label application.
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