the chameleon music update blog has posted a new item, ‘[the chameleon music
update blog] IODA to purchase Uploader to expand to Europe.’
the chameleon music update blog has posted a new item, ‘IODA to purchase
Uploader to expand to Europe.’
Here is an article taken from gigaom.com that was written by Katie
Fehrenbacher. very exciting news for the Indie Music world.
While online music sites like Napster are still trying to figure out how to
make money, San Francisco-based digital music startup IODA has been creating a
pretty good businesses by finding a focus: Indie bands. IODA (stands for
Independent Online Distribution Alliance) helps small independent music labels
distribute music digitally, has raised no VC funding to date, and has been
able
to grow organically. Today IODA said it will buy London-based digital music
company Uploader, in a broader plan for international expansion.
I met with IODA founder/CEO Kevin Arnold last year and he’s a true music
hipster — he founded the music festival Noise Pop and is the kind of guy
that
says he’s driven by his love of the Indie music community. He learned the
music business during a stint at Listen.com, before RealNetworks bought it,
where he built the Rhapsody music service. This week he’s in Berlin,
attending Popkomm where the company announced the Uploader acquisition.
IODA’s premise is that 20% of global music industry sales come from
independent music. Targeting the indie niche the company seems to been able to
find some success, while some more mainstream music peers are struggling. Last
year Arnold told me the company was a “2.5 million to 3 million dollar
company,” so it’s likely grown considerably since then. Uploader is
IODA’s first big international push. Uploader was founded in 2005 by a few
longtime European independent music veterans, like Martin Goldschmidt, the man
behind European label Cooking Vinyl. Uploader will be IODA’s European arm
and
will likely be the first step in a major international expansion. While the
companies didn’t release the details of the deal, I would say that the
Uploader deal was valued no more than $20 million given the size of other
digital music deals this year.
The fact that a three-year-old startup that has never taken VC money, is
buying
an international firm means that the company is likely doing pretty well. IODA
has some 600,000 tracks from more than 2,700 independent labels around the
globe, and now with Uploader’s 150 labels representing 50,000+ tracks,
they’ll have a lot more. The company distributes independent music to sites
like iTunes, Napster, Rhapsody, (check out the full list here.)
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You may view the latest post at
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