SOURCE: IODA

March 05, 2008 09:00 ET

IODA Marks Five-Year Anniversary: Highly Effective Distribution and Marketing Services Lead to 370 Percent Average Annual Revenue Growth Since 2004

Milestone Celebrates Transformation of Music Industry From Closed and Controlled to Open and Accessible; Powerful Distribution and Marketing Now the Purview of Independent Artists

SAN FRANCISCO, CA--(Marketwire - March 5, 2008) - IODA, the global leader in digital distribution, marketing, and technology solutions for the independent music industry, today announced its five-year anniversary marked by rapid growth across its business. In just five years IODA has dramatically influenced the transformation of the music industry, executing on its vision for highly effective digital distribution, creating powerful technology solutions and advocating for increased transparency in the fast-evolving digital music world. Over 50,000 artists from more than 50 countries, representing a catalog of over one million tracks, have trusted IODA as their digital distribution and marketing partner, resulting in average annual revenue growth for the company of more than 370 percent since 2004.

IODA's five-year anniversary comes on the heels of strong growth projections for the digital music industry made by Forrester Research. In its February 2008 report entitled "The End Of The Music Industry As We Know It," Forrester predicted that one-half of all music sold in the US will be digital in 2011 and will surpass physical CD sales in 2012. The report projects digital music sales to reach $4.8 billion by 2012.(1)

Fulfilling an acute market need, IODA leveraged its initial success to build a thriving business:

--  IODA's catalog is licensed to over 100 retail partners representing
    more than 400 digital storefronts worldwide, including major distributors
    like iTunes®, eMusic, Amazon MP3, Napster and Rhapsody®; mobile
    carriers and outlets such as Sprint, Verizon, T-Mobile, and Musiwave, as
    well as dozens of emerging models and stores.    
    
--  With established operations in every major market, IODA has offices in
    San Francisco, New York, Los Angeles, London, Paris, Sydney, Mexico City
    and local representation in Japan, China, Hong Kong and South America.
    
--  Labels and distributors of all sizes and styles choose IODA over the
    competition: Industry leaders including Arts & Crafts, Cherry Red Records,
    Fat Cat Records, Harmonia Mundi, Koch Entertainment, Naïve, Premium Latin
    Music, Relapse, Rounder Records, and Six Degrees; up-and-comers like
    Absolutely Kosher Records, Embedded, Flameshovel, Light in the Attic and
    Paper Bag Records; and distributors such as Allegro/Nail Distribution,
    Cargo Records UK, Naxos, Proper Distribution, Select O Hits, and Shock
    Records.  
    

With deep roots in both technology and music, IODA has continually defined best practices for the independent digital landscape. Its sophisticated in-house supply chain systems reliably manage and deliver millions of files to IODA's network of hundreds of retail and promotional partners each month. Its proprietary Rightsholder Dashboard business management tools provide new levels of convenience, control, intelligence, and transparency to independent content owners.

"IODA was founded on a passion for creating lucrative opportunities for the independent music community in the digital age," said Kevin Arnold, founder and CEO of IODA. "I'm delighted to say that we've achieved this in spades. We've built a powerful, scalable technology platform; a widespread, influential distribution network; and unique marketing and publicity tools that have enabled thousands of independent artists to connect with fans and generate sales around the world."

Beyond solving core distribution challenges, IODA has also focused on applying technology to change the way independents market and promote in the online world. IODA's patent-pending Promonet™ digital marketing platform connects labels with over 3,000 online music sites, including blogs, podcasts, Internet radio stations, and social networks, and provides the ability to track and quantify digital marketing campaigns.

"IODA offers the great combination of passion for music and understanding of technology," said Martin Goldschmidt, founder of Cooking Vinyl Records, home to artists including Prodigy, Frank Black, and Billy Bragg. "That is why we chose them to be our online distributor. They fulfill a vital need; if they didn't exist Cooking Vinyl would have to invent them."

IODA will celebrate its five-year milestone next week at its Annual IODA Opening Day Bash at the SXSW conference in Austin, Texas. The annual showcase features popular independent artists from around the world in celebration of IODA's five-year anniversary, including the first U.S. show in two years for the seminal UK band The Wedding Present. The showcase will be held on March 12 from Noon to 6pm and is free and open to the public. All bands are represented by IODA and will be part of IODA's free SXSW music sampler. To hear this collection of music, go to www.iodasxsw.com.

"Independent distributors like IODA give labels the support many need in the new digital economy. Since day one IODA has been their champion providing them with the technology resources they need to access the many new distribution networks and new revenue streams essential for their survival," said Rich Bengloff, president of A2IM. "We applaud IODA for its support, leadership and vision as we continue to work together to seek fairness, equity and transparency in this industry."

About IODA

IODA, the Independent Online Distribution Alliance, is the industry-leading digital distribution company for the global independent music community. IODA provides comprehensive services to record labels, physical distributors, and artists, including license negotiations; media encoding and metadata management; and royalty payment administration and reporting. The company also offers promotional support through a dedicated marketing division and through the IODA Promonet (www.iodapromonet.com), a promotional distribution network that provides qualified podcasts, blogs, and other promotional sites with access to pre-cleared, legal music and other promotional assets from IODA's labels. Founded in 2003, IODA represents a rapidly expanding roster of over a million tracks from thousands of independent labels around the globe. IODA was named one of FORTUNE magazine's 25 Breakout Companies for 2005. The company's website is www.iodalliance.com.

(1) "The End Of The Music Industry As We Know It," James L. McQuivey, Forrester Research, February 2008

Contact Information

  • Contact Info:
    Jessica Hoffman
    IODA
    tel: 925-296-6161
    email: Email Contact