Despite our bumpy history with TuneCore, we’re big fans of their business model: they help artists get digital distribution of their music on iTunes, Amazon, Rhapsody, napster, eMusic and other online music sites without the trouble of going through a distributor. A recent deal with iLike expands their footprint further.
Basically, TuneCore is the place to go if you are unsigned but want people to have access to your music – a sort of CDBaby for the digital world. After a small setup fee, the artist keeps all proceeds from the sale.
This model has also attracted established artists who’ve ended their label deals to the platform, too. Jay-Z, Keith Richards, Public Enemy, Nine Inch Nails, Ricky Skaggs, Paul Westerberg, MGM Studios, Warren G, Bjork, Moby, High School Musical cast members, Ali Lohan, Cirque Du Soleil, Starbucks, Joan Jett, Rockstar Games, David Byrne, MGMT and others use TuneCore today.
The company took $7 million in a venture round from Opus Capital, they are announcing today. Gill Cogan from Opus and Marty Albertson, the CEO of Guitar Center, join TuneCore CEO Jeff Price on the board of directors.
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