MyBandStock Announces Significant Growth Since January 2009 Launch

I thought I'd post this on here, since I worked really hard on it, but we're not sending it out, so enjoy The Music Revolution:

FOR IMMEDIATE RELEASE
CONTACT: Taylor Hulyk
734.678.4218
taylor@mybandstock.com

MYBANDSTOCK ANNOUNCES SIGNIFICANT GROWTH SINCE JANUARY 2009 LAUNCH

ANN ARBOR, MICH., June 4, 2009 – MyBandStock, Ann Arbor, Mich.-based music technology company and a division of MyStock Enterprises, LLC, reports substantial growth since its January 2009 launch. The company has since witnessed growing support in the form of stock sales, website membership and start-up capital. MyBandStock President Drew Leahy made the announcement.

Breaking onto the Ann Arbor entrepreneurial scene just a few short months ago, MyBandStock, a company comprised of young, educated and ambitious music professionals, is progressing in the market place, showcasing a distinctive business model that is resonating with fans, artists and investors alike. MyBandStock operates via Mybandstock.com, the online interface that allows music fans to purchase stock in their favorite bands. This new business model marks a interruption to the traditional music industry format, one that allows the artist to re-harness creative freedom inherent to the creation and dissemination of recorded music. In return for stock purchases, the fan is rewarded with unique access to the artist, including exclusive digital content, along with the opportunity to personally take part in the creative process of recording an album. Tangibly speaking, for each stock investment, the fan receives “perks” of the artist’s choosing, from digital music downloads to band merchandise or concert tickets, to name only a few.

In a time when the age-old practices of the music industry are becoming obsolete, MyBandStock offers an alternative to corporate strategy, overhauling the accepted practices of industry past. The company presents a revolutionary model that places the control of music back into the hands of the entities directly affected by its production and consumption: the artist and the fans. The business model bypasses the intermediaries that typically accompany music production and distribution under corporate labels. MyBandStock recognizes the limitations of an industry that was formed before independent music creation, distribution and promotion became a viable option for artists. The creation and widespread adoption of Web 2.0 has uniquely affected society—and, in particular, entertainment consumers. The traditional means by which people obtain creative content has been drastically altered; the pay-per-song mentality is well on its way to extinction as free online distribution becomes the societal norm. Despite digital rights management (DRM) laws that seek to annihilate what some may consider illegal behavior, the accessibility and usability of the Internet leaves entertainment producers and distributors with one of two options: either embrace and adapt to the emerging technologies or be left behind. While this transition is especially difficult for companies accustomed to packaging artists, MyBandStock offers an innovative alternative to traditional music creation and distribution.

While most of the country, Michigan especially, is currently experiencing a struggling economy, MyBandStock is among the many emerging Ann Arbor, Mich. companies who have dared to challenge the economically-stunted mold. Within the past 10 years, Ann Arbor startups such as web-based medical application provider MedHub, plastic foam producer Nanosystems, Inc. and now MyBandStock have met success despite the economy’s threatening odds. Ann Arbor, a hub to a vastly educated and cultured population, is a prime location for entrepreneurship. Since the economy began its downward spiral, self employment in Ann Arbor has become an increasingly attractive option for prospective innovators, as once highly-stabilized and respected large companies such as Chrysler and Pfizer have cut their workforce or even declared bankruptcy, and what was once considered a secure corporate job becomes further an oxymoron.

Since its January launch, MyBandStock has been progressively growing. To date, there are over 300 registered users on Mybandstock.com, and 650 shares have been sold. After two successful MyBandStock original artist concerts, each with over 200 attendees, MyBandStock is continuing to excite potential investors as it continues business development. Most recently, the company announced its Summer 2009 Music Revolution Internship Program.

“MyBandStock is thrilled to be among the ranks of growing Ann Arbor start-ups,” said Leahy. “Our direct fan support business model is the revolutionary means by which entertainers and supporters can work together to perfect and profit their craft in this new technological environment.”

MyBandStock is a business division of MyStock Enterprises, LLC. It is a social movement dedicated to networking the resources of the music community, giving music back to the people who live it: the Artists and their Fans. MyBandStock is committed to giving artist the chance to succeed and fans the chance to be more than a face in the crowd. Join The Music Revolution™. For more information, please visit Mybandstock.com.

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