MyBand.co.in Launches Digital Store For Local Bands To Sell Music Online

MyBand

MyBand.co.in, a site that aims to promote independent Indian bands, has launched a digital store where buyers can sample the music and bands can set the price of their music. Launched in February by former media executive Debashis Dey, the site has grown to become an excellent destination to discover new Indian bands and their music.

“We wanted to help the bands with two things that every artist aspires to. Sell their music and perform live. Through the digital store, they can now sell, and we are coming up with a series of concerts across India featuring these bands,” said Dey. He says some 800 bands have registered with the site and set up their profiles, and nearly 80% of them have uploaded their music. Not many have put their music up for sale at the just launched digital store, however. Dey said the site will keep some 5-10% of the revenue to cover the transaction costs.

His business model is however, firmly rooted offline. “We will make money out of events, branding and other sponsorships.”

With slowing physical sales, the traditional music industry is finding it impossible to try out new bands in a country where the top selling music is usually the heavily promoted fare from Bollywood. “Thankfully, there are corporates that have shown great interest in supporting concerts and other events.” Dey is also signing up with establishments such as clubs and restaurants to showcase bands from different cities. “So we are having bands from Kochin playing in Mumbai and bands from Delhi playing in smaller cities. We help them cover the costs and as artists, they get to travel and perform,” Dey said.

The site also curates the content, helping users discover music that other users have liked. It’s featured section looks at criteria such as the number of streams, visits, downloads, comments etc. to determine top songs.

“We are eliminating any middle layer between the artist and the music lover and i think that’s important,” he said.

Soundbuzz estimated in 2007 that Indian music business will cross Rs4100 crore by 2009.

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