Audimated
| Company type | Private |
|---|---|
| Industry | Social networking, Music marketplace |
| Founded | 2010 |
| Founder | Lucas Sommer, Andrew Levine |
| Headquarters | Miami , United States |
Area served | Worldwide |
| Products | Music tracks, merchandise, event tickets, online stores for artists and fans |
| Website | audimated |
Audimated was a social networking platform dedicated to independent music artists and their audiences. Introduced in June 2010, Audimated.com served as a marketplace where both musicians and fans could profitably sell music and related merchandise. The company, founded by Lucas Sommer and Andrew Levine—graduates of the University of Miami Business School—was incorporated in Florida and headquartered in Miami, Florida.
History
The idea for Audimated took shape during the founders' senior year at the University of Miami. Encouraged by favorable evaluations from their business instructors, they crafted a formal business plan in 2008 with the goal of launching the website. The brand name "Audimated" is a fusion of "audio" and "automated," symbolizing its aim to integrate music distribution with automated marketing through social networking tailored for independent artists.
Concept
Audimated.com operated as an interactive online community for music enthusiasts, incorporating innovative revenue-generating options. Both creators and listeners had opportunities to earn income: artists offered merchandise such as tracks and event tickets, while fans were empowered to establish their own "stores" to retail products from preferred bands.
Additionally, users could explore leading artists aligned with their preferences, stream or upload tracks via Audimated.com's radio feature, and locate emerging musicians geographically across various genres.
Artists maintained complete ownership of their intellectual property; Audimated.com functioned solely as a platform to enhance visibility for independent music. Registration was complimentary for both artists and fans. The company’s revenue model involved a 10% fee on all transactions, alongside optional premium service upgrades.
News
In March 2010, Audimated.com secured victory in the WeMedia Pitch It! Contest, receiving $25,000 in seed funding awarded to Lucas Sommer for delivering the top presentation. The enterprise attracted coverage from The Wall Street Journal, the Miami Herald, and numerous independent music-focused blogs.