Tulsa, Okla. (Top40 Charts/ Rex PR) Serving a growing market of artists who want to avoid the expense of traditional record labels, idefi Group LLC today announced that on Nov. 1 its online service will move out of the beta phase and officially open to the public. Pillar front man Rob Beckley and other popular artists are already using idefi.
"This is an exciting day for musicians who deserve a shot at success while avoiding debt or financial risk," said idefi CEO and Tulsa entrepreneur Brady Deaton. "It's standard practice for a label to recoup their investments before artists see any money. But idefi allows artists to make small steps toward success and not risk any upfront expenses. With idefi, artists earn their way using a reward system rather than hope and pray that someone discovers them."
A web-based "all access" record label, idefi "defies" traditional label practices by using a reward point system. idefi's services include: duplication, world-wide distribution, support for recording, help with music video creation, tour support as well as marketing.
Here's how it works: Musicians create a free profile to sell their music at idefimusic.com. Next, they can choose whether or not to share profits with idefi and what percentage. After a percentage is chosen, idefi rewards them with points per purchase. These points can be used toward services that idefi provides. idefi's mission is to give artists control while keeping both the artist and label from acquiring large amounts of debt.
Meat Loaf, Cyndi Lauper and Toni Braxton are a few of the many famous artists who have filed for bankruptcy after they could not sell enough music to repay their record label. It's not just artists who acquire debt. Deaton experienced a failure of his own in 2000 after deciding to turn his recording studio into a record label. He spent thousands of dollars and hours on a band that called it quits in short order. "I was stuck with thousands of CDs by a band that no longer existed," he said.
It was this financial disaster that inspired the concept for idefi. Deaton and idefi are currently finalists for several entrepreneurial and startup awards, including the TCC StartUp Cup Powered by Lobeck Taylor Family Foundation that culminates in November. For more information please visit www.idefimusic.com.
| 
