NVC Semifinals Continue With the ReLive Venture Team

10 04 2009
Andrew Charnik and Jeff Richman of the ReLive Team pitch their plans during the Semifinal Round of NVC

Andrew Charnik and Jeff Richman of the ReLive Team pitch their plans during the Semifinal Round of NVC

University of Michigan’s two-man ReLive team pitched their business plan for creating a digital music archive of live music performances. Beginning with the idea that the “live music aficionado” wants and needs live music at the moment they want it, ReLive says there exists a growing market for digital recordings of live music. ReLive looks to partner with small music venues and emerging artists to keep up with the dynamics of the changing music industry.

The ReLive partners, Andrew Charnik and Jeff Richman, believe that their plan is an “investment in the future of music.” ReLive provides emerging artists and small music venues a new way to capitalize on their performances, allowing them to combat the decrease in profit margins.

ReLive would record the live performance and add the songs to its online music archive making the songs available for purchase. Live music fans could pick and choose songs from the concert for $0.99 a download.

After an interesting pitch, the venture team had to handle some difficult questions in the Question & Answer portion of their semifinal round. The judges had questions about the real market potential, technical costs, and consumer response. Judge Tim Berry, president and founder of Palo Alto Software, had some questions about their financial numbers and percentages of people willing to purchase songs.

When asked about how they felt about their Q&A session, ReLive appreciated the judges perspectives on their plan, “The panel of judges was great, their questions were very insightful – which usually means difficult questions- but it helps us develop our plan.”

Read more about ReLive in an article from The Michigan Daily.

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