As part of the deal, idealive investors will have early access to leading IUMA artists as they debut on the IUMA charts.
“This partnership means that idealive investors will have access to the same IUMA artists showcased to the big labels,” said Melanie Robins, president of idealive. “At the same time, IUMA artists will have a new source of funding — much like a development deal — which can help them secure recording contracts.”
Last month, idealive announced the online financing of an artist development and record production deal for Tor Hyams, an unsigned IUMA pop artist and songwriter.
The funds are currently being used to cover the recording, manufacturing and initial promotion of his new CD, which is being produced by producer Jeffrey Wood at Fantasy Studios in Berkeley, California.
“We are eager to provide our artists opportunities both inside and outside the record industry,” said Antony Brydon, general manager, IUMA. “Tor Hyams’ successful financing proved to us that IUMA artists could attract investors that would further their careers independently. We’re psyched to turn this event into a relationship that can be a benefit to all IUMA artists.”