Social Networking Website Kerchoonz Receives  250,000 Investment

The Scottish Co-investment Fund, a  45 million fairness investment fund locate up by Scotch Enterprise, prepared a  250,000 investment into UK-based multi-media company Kerchoonz.

Scheduled for beta originate this September, Kerchoonz.com is a social network site offering a simple, yet innovative concept: that musicians be compensated for the music they practise available to fans. While an unending list of sites spare musicians to give their bebop away for free, exact hardly any actually pament them. Kerchoonz pays registered bands, artists, DJ's and songwriters every time they're music is downloaded or streamed on the site.

Kerchoonz.com's imitation is a recognition of the changes that have impacted the music industry, driven by technology and changing attitudes among consumers. Evaluation firm NPD's latest Digital Folk Glance at found that the overall group of music that consumers absolutely paid for fell from 48% in 2006 to 42% percent in 2007. At the same time, while the percentage of US web surfers engaged in file sharing capped at 19% behind year, it continues to grow aggressively among teens while the number of files downloaded per user increased.

"Fans desire free music without the hassles of DRM or advertising, while musicians hope for receive compensation for the cause of their music," famous Christian Ulf Hansen, former Director of Writer / Publisher Relations BMI Europe. "Kerchoonz recognizes this verisimilitude and strikes the right balance by meeting the needs of both musicians and fans."

Fans, musicians and music production professionals are invited to sign up in this pre-beta chapter at http://www.kerchoonz.com

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