Social music marketplace Amie Street has closed a Series A round of financing led by Amazon.com, along with some new partnerships and a site redesign. The amount of Amazon’s investment and the terms are not disclosed. On Amie Street, music is not sold for a flat rate, but rather fluctuates based on demand for the song. Artists upload their music (DRM free), which users can download at a starting price of free. As a song’s downloads increase, the price starts to rise, all the way up to $0.99. If a song gets to $0.30 or so, you know its popular. The artist keeps 70% of revenues after the first $5 in sales. SellABand also has a socially driven music monetization model. Users are rewarded for recommending hit songs with credit for purchasing additional music on Amie Street. The more popular a song becomes after a member has recommended it, the more credit he or she receives to spend on music.http://www.techcrunch.com/2007/08/05/amiestreetcom-closes-series-a-financing-led-by-amazoncom/
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