ReverbNation Partners With SongVest To Give Music Fans An Opportunity to Invest in 250,000 Artists

Published by on October 14, 2008

ReverbNation, who recently closed a $3 million funding round has had a wave of announcements recently. The most recent partnership with SongVest gives them yet another reason for independent artists to work on their platform.

ReverbNation currently has an artist roster of 250,000, and by working with SongVest, fans are given an opportunity to invest in an up and coming artist.

“Imagine buying in on tracks from the next Fall Out Boy or My Chemical Romance before they hit the big time,” said David Prohaska, cofounder and CMO of SongVest.

A Suite of Tools for Artists

Right now artists can upload their content to ReverbNation, distribute it via their system (for $35) $5 cheaper than TuneCore, and now receiving investment via partners like SongVest.

They are looking to become the one-stop-shop for artists, as it makes sense for artists to use the same site for distribution as they do for promotion, and it’s only a matter of time until that promotions-package gets stepped up.

ReverbNation has not yet stepped foot in creating a means for artists to do paid-promotion, on platforms like Last.fm and Grooveshark, however, I think that would be the next natural step for them.

I imagine we’ll see this as the next wave of announcements from ReverbNation and finding new ways for artists to profit aside from iTunes commercials.