IndieMV Media Group Nears Completion and Formal Launch of Power-Shifting, Revenue-Sharing Plan for Independent Musicians & Labels
Posted on February 29, 2008
Filed Under TechShowWIRE
NEW YORK –(Business Wire)– Feb. 28, 2008 IndieMV Media Group, Inc. (OTCBB: IDMV), a fully integrated, digital entertainment company that is pioneering new business models and social media sites for the distribution, licensing, and marketing of digital media, today announced it will within the coming two weeks release the final details of a radically different licensing model for independent musicians. The new approach, as previewed by IndieMV Media Group, Inc. President and CEO Ricardo Khayatte, will, for the first time in the industry, give independent musicians and independent record labels a significantly larger, less encumbered, more immediate, more controllable, and more lucrative share of proceeds from the online sale of their music and videos, as well as site advertising revenues earned on the Company’s flagship IndieMV.com site.
Said Khayatte, “Our new approach will redefine the recording industry’s traditionally exploitative business model. Our offering will do nothing less than change the game. For the first time ever, two things will result: artists will get their fair share of the rewards they deserve for their creative artistry; and, consumers can for the first time know that the money they spend on our site for the artists they favor and enjoy and champion will be going to those artists and not the middlemen, conglomerates, packagers, promoters, and other unknowns who have been the ones chiefly profiting from others’ creativity by way of the traditional, old-fashioned system.”
IndieMV Media Group, which went public on December 24th, has to date invested more than a million dollars and a year-long development effort in the innovative design of its inaugural social media site, which it calls “Your Music Village.” For the past five months the site has been in a comprehensive live beta test phase during which a growing number of independent musicians, visitors, sponsors, and independent record labels have tested the site and provided feedback. Between January and February, in fact, according to an independent source of analytical data, visitors to the site jumped by more than 285%.
As a result of the live beta feedback and the Company’s own ongoing development efforts, a sweeping range of more advanced features, designs, navigational tools, application utilities, and social media platform compatibilities will be showcased on March 13th and 14th at two separate concert events the Company is sponsoring at the SXSW Music and Media Conference in Austin, Texas. The SXSW Music and Media Conference showcases hundreds of musical acts from around the globe on over fifty stages in downtown Austin. Attendees may view the latest version of the IndieMV.com site at The Dirty Dog Bar event on March 13th and the Limewire Store event on March 14th.
About IndieMV
IndieMV Media Group, Inc. (IndieMV), a fully integrated, digital entertainment company, is a pioneer in the distribution, licensing, and marketing of digital media and its related businesses. Fueled by its partnerships with world-class record and management companies, wireless communication companies and major sponsorship corporations, IndieMV has positioned itself to be a leader in social-networking and digital media distribution on the web. http://www.IndieMV.com, the Company’s first web property, is an entertainment based social-networking portal that will grow from its niche, music-based roots into a global provider of online services catering to an interconnected web of music and entertainment enthusiasts around the world.
“Safe Harbor” Statement under Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking statements based on the Company’s current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements include statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words and include statements regarding the planned and/or anticipated benefits to users of the Company’s products and the timing of distribution of such products. Forward-looking statements in this release are based on information available to the Company as of the date hereof. The Company’s actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with the Company’s business, which include the Company’s ability to execute its business strategy and the other risk factors disclosed in filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
IndieMV
Ricardo Khayatte, 778-737-0076
President, CEO
or
AgencyNext, Inc.
Sterling Hager, 508-647-0044
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