Get To Know: Tunezy, a Fan-Driven Social Record Label

Via Nadine Blum,

“Tunezy, a fan-driven social record label, believes it can revolutionize the $20 billion independent music industry. The idea behind the Richmond Hill-based start-up is to leverage the tools of social media and gamification to empower fans to help their favourite independent musicians succeed. When fans engage with music on the site, by listening to a song, sharing it on Twitter, or leaving a comment, they earn notes, a virtual currency that can be used to tip artists they like. Once they’ve earned enough notes, artists can spend them in Tunezy’s marketplace, which contains services associated with a traditional record label – including mixing, studio time, licensing and promotion.

In March, the Tunezy team pitched its concept and won first place out of over 80 teams at NBTC in Toronto, and earlier this month Tunezy announced it had sold a 20% stake in the company toIntertainment Media. Next up, Tunezy is poised to launch in private beta at the end of May, and will unveil itself to the public later this summer.

I recently sat down with 24 year old co-founder and CEO Derrick Fung to learn more about the inspiration for Tunezy, and why he thinks it will strike a chord with music lovers…”

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