NEW YORK, Oct. 15 /PRNewswire/ -- AmieStreet.com, the fast growing
online music retailer, launched a new website today, unveiling a new look
and user interface plus a number of new features.
"The new design and features are driven by extensive "voice of
customer" research and are geared to making music discovery easier and more
personalized," said Elliott Breece, co-founder of AmieStreet.com. "We've
had strong customer growth due in large part to the popularity of our
unique community driven pricing model. We're excited to now be able to
leverage a brand new web site and music discovery experience to really
accelerate that growth."
The new AmieStreet.com comes a year after announcing a strategic
investment by Amazon.com. During this time, AmieStreet.com has increased
the size of its music catalog more than ten fold, from less then 100,000
DRM-free mp3s to over 1,000,000 and increased the number of employees from
5 to 21.
As the site's music catalog has grown, so has its ability to attract
new customers, and building on this strong customer growth, AmieStreet.com
is raising its Series B round of financing, with strong participation from
existing investors.
In just the last three months (July-September), AmieStreet.com has
grown its customer base by an average of 18% month over month, while
continuing to maintain an average annual spend of $30 per customer.
AmieStreet.com has also reversed the industry-wide trend that has
consumers buying fewer and fewer albums, opting to buy more singles
instead. It's unique pricing model, where songs are priced from free to 98
cents based on consumer demand, has led to an increase in album sales
versus single song purchases. For 2007, the ratio of all digital songs sold
to digital albums sold was 17:1, according to the industry's leading trade
organization, the IFPI. AmieStreet.com has an album to song ratio of 1:1.
About AmieStreet.com
AmieStreet.com is the first digital music store to leverage
community-driven pricing and social discovery tools to make buying music
fun, easy and social. Founded in the Spring of 2006, AmieStreet.com is a
site where the community determines the price of songs, which start out
free and rise in price the more they are purchased. For recommending songs
that subsequently rise in price, AmieStreet.com rewards its members with
free downloads. Amazon.com led Amiestreet.com's Series A round of financing
in August 2007. The company is located in New York City.
Contact: Zane Groshelle, 718-482-8307, zane@amiestreet.com
SOURCE AmieStreet.com
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Related links:
http://www.amiestreet.com
CONTACT:
Zane Groshelle, +1-718-482-8307,
zane@amiestreet.com
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