Independent music artists do not have a single site where they can connect with their fans, market themselves and sell their music; instead it's a fragmented scene where artists must join a number of sites to perform their tasks online.
EatNoise is many things at once; it's a gig-guide, a landing page for artists, a niche social network, a digital download platform, an industry directory, a venue and festival directory and even a gig-booking system. Importantly, it allows fans to not only discover new music, but allows them to collaborate to create online e-zines to drive other fans to new music. In addition, it allows band-managers and record labels to manage all their artists from a single account.
In short, EatNoise has combined new concepts and cherry-picked from the best on the web to satisfy an entire music ecology -and is entirely free for the fan and the artist.
EatNoise competes with a rapidly declining MySpace, with Facebook not suitably geared towards music. Artists are looking for a new home. Reverbnation.com provides excellent tools for artists, but it's completely geared towards artists and not fans. BandCamp.com is a great place for artists to sell music, but doesn't have the social element, or even a search function! As a landing page for artists, Onesheet.com has recently come onto the market - but again doesn't have the social element and acts only in the one dimension.
No site does caters for it all, and there is no good technical reason for that.
EatNoise was initially launched in 2009. A limited budget for development and marketing limited the success for this venture; however it did nurture a steep learning curve. Since the launch, EatNoise has developed a comprehensive business plan and released an Information Memorandum for interested investors.
Core Team Members
Evan Read is the director of EatNoise. I am 39 - and have worked in Health and Education for the last 20 years, currently lecturing at RMIT University in Melbourne in Nuclear Medicine, part of the Medical Radiations program.
However, my interests have always remained deeply in music - and have been involved with bands as a musician and a manager for a number of years. I drew together an advisory board of people from various aspects of the Melbourne music scene, with the aim of developing an online destination that meets the marketing, communication, networking and entertainment desires of artists, fans and industry professionals.
Design Industries [www.di.net.au] is a web-development company who were originally contracted to develop the current site for EatNoise. They have extensive experience in tailoring websites for large online & offline businesses; they are well positioned to continue their work in growing EatNoise into a competitive and commercially viable venture.
Company Vision & Future
EatNoise will be a global brand fruitfully used by independent bands and artists and music-industry professionals to communicate and transact with their fans. It will be a market leader in social networking, digital downloads, gig booking and ticketing in the independent music scene.
Current Valuation
EatNoise is valued at $588,000, and seeking $300,000 investment. I already have one investor interested in investing $100k - but that is pending upon the sale of his share of his current business.
Each $100k is valued at 17% of the business.
A fully prepared Information Memorandum is available to interested investors.
Exit Opportunity
Based on the earnings of scalable websites, and upon the projections outlined in the business plan, it could reasonably be expected that a return of over 10 times the invested amount could be reaped in 5 to 7 years time.
Ideal Investor
Either a silent investor, or someone willing to sit on the board to participate in business decisions.
Category: Internet Web 2.0
Category: Online Retail
Category: Online Retail
Interested In: Media & Entertainment, Telecommunications, Mobile Services, Marketing & Advertising, Online Retail
