Launching Summer 2011, MIT Grads Create World’s First Online Marketplace to Legally Sell and Purchase Pre-Owned Digital Music Files
BOSTON — (BUSINESS WIRE) — February 17, 2011 — This summer, music lovers everywhere will finally be able to do the impossible: legally sell their digital music files and buy other people’s used music at a fraction of the price. A group of MIT and Cambridge-based geniuses has solved the most pressing problem of the digital music age and will soon extend invitations to experience the limited early release of ReDigi™, the world’s first online marketplace to legally recycle, buy and sell, used digital music files.
The ReDigi™ Marketplace is based on the structure of a used record store where music lovers traded in their old records and CDs, flipped through the bins in search of that amazing album traded in by someone else. They would build up and fill in their collections with great finds at great prices. Then came the digital music revolution where CDs and vinyl records gave way to MP3s, inhibiting users from being able to resell their music.
Now, with the ReDigi™ Marketplace, owners can once again manage their music libraries by selling their unwanted digital music, or purchasing the music they do want, at drastically discounted prices.
“The typical listener regularly uses only about 20 percent of the music in their libraries. The balance represents a lot of money and disk space being tied up on their computers and mobile devices,” said John Ossenmacher, ReDigi’s CEO. “With the legal issues involved in the selling and sharing of digital music, people have been stuck with their unwanted tunes, or forced to delete them in order to free space. ReDigi is the answer to that problem – ReDigi™ provides the digital marketplace to resell unwanted music and acquire desired music, in perfect condition.”
Along with former MIT faculty and prolific technologist Larry Rudolph, Ossenmacher leads the eclectic young team of technical experts, analysts and musicians who have developed ReDigi’s cutting-edge ability to legally recycle digital files.
“Being a group of computer geeks when someone tells us something can’t be done, we immediately set a course to figure out how to do it,” says Rudolph. “There are many layers that go into ReDigi™ that make it work, legal and technical being just a few. Our team figured out what could be done to legally ensure that consumers regain the freedom to manage their own personal music collections.”
Along with giving users the power to recycle their digital music files, the ReDigi™ Marketplace also aims to help strengthen the music industry through the ReDigi Foundation program, which grants a share of proceeds from all music sales to both artists and record labels each and every time a track resells.
“ReDigi™ is about empowering music lovers,” Ossenmacher explained. “In an age where technology gives us so many new freedoms, ReDigi™ will give users the freedom to fully take ownership of their music, and to provide the artists and music industry another revenue stream so they can keep producing the tunes we love so much.“
Beginning today, ReDigi will be accepting requests to be part of its exclusive preview group - to request an invitation before ReDigi’s summer launch, please visit www.redigi.com.
Launching in summer 2011, ReDigi will forever change the way digital music is bought and sold. As the world’s first marketplace for recycled digital media, ReDigi reinvigorates music collections by giving users the ability to legally sell (recycle) the songs they’re no longer listening to and to acquire other users’ recycled songs at dramatically discounted price, all while supporting the music industry by granting a portion of each sale to artists and record labels each and every time a track resells. For more information, please visit www.redigi.com. Follow us on Twitter @redigimusic and Facebook; press and business inquiries should be made to Brendi Rawlin at Email Contact or 619-546-7488. Musicians interested in ReDigi should contact Email Contact.
Brendi Rawlin, 619-546-7488