Universal Music Group Invests in Loud.com

rifkind.jpgIt was announced yesterday (August 8), that Universal Music Group will be making an equity investment in social networking and music portal Loud.com. The site, which was revamped by Loud Records founder Steve Rifkind earlier this year, allows aspiring rappers to download professionally produced tracks for 99 cents a piece and compete with other visitors for a recording contract and a $100,000 cash prize. The online battles will be judged by a panel of celebrity producers including Cool & Dre, David Banner and Sha Money XL. “Universal’s strategy is to become actively involved in all areas of media where our artists and our music are present,” said UMG vice chairman Nick Henny. “Loud.com has created an incredibly vibrant and growing on-line hip-hop community that features not only compelling user-generated content, but also the means for users to create their own music and compete for a record deal. Loud.com is quickly emerging as one of the leading new online ventures that successfully reaches the new generation of international and multicultural youth.”

  • Joey

    Why.. why… why… XXL we want some real News not this Sh*t about some site.

    I want to be entertained!(Yeah you know what im talkin about.
    #Hint# Bangers Section Suckz! #Hint#

    Guess imma go to the zoo to watch the Lions make some hot doodo cuz i guess rappers cant make any!

  • http://www.xxlmag.com EReal

    Rifkind is the man, he’s saving hiphop.

  • http://www.hoodgrownrecords.com/myhood Hoodgrown

    and how do you figure he’s saving hip hop?

    Cartel
    MyHood – http://www.hoodgrownrecords.com/myhood
    The Adventures Of An Underfunded Hip Hop Label In It’s Quest To Be Seen And Heard!
    http://www.myspace.com/hoodgrown
    http://www.youtube.com/hoodgrown

    Anyone spit that FIRE? Wanna get on a REMIX?
    http://www.hoodgrownrecords.com/brix-contest

  • http://www.myspace.com/soundchildcrewsfanpage One Globe Media

    Newly signed Grand Hustle/Atlantic recording artists…Soundhild Crew!!! The future of rap msuic.

    http://www.myspace.com/soundchildcrew

  • BklynBandette

    Good Look. I Must Monitor This.

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    Why is it that the content reminds me of some other the same 1 I just read some place else?

  • http://submityournewsod.info/ Hershel Brodersen

    Amazing piece of writing, well crafted I must say.