Today’s trading of Life Design Station saw an immediate jump following the endorsement of R&B producer Damion Hall. Seemingly, the sharp drop the stock then saw came from people asking themselves, “Who is Damion Hall?”, and then subsequently finding out he was responsible for a large chunk of dross in the 1990’s R&B scene.
Mr. Hall’s “achievements” include being a founding member of the group Guy, and a few minor successes as a songwriter and producer. He wrote and produced the song called ‘Holdin On’, featuring Forte, which climbed to #48 on the Billboard R&B charts in 1992.
To be fair, Mr. Hall cannot be solely blamed for this drop today. This was not the sole announcement the company made today.
“Damion Hall is a legend in the R&B music industry and to have his endorsement of Backstage Vibe is incredible,” stated Janina Ramos-Cabera, the CEO of Life Design Station, “It is an honor to have such a well known artist and producer provide his approval of our site.”
Life Design Station is a music corporation that is looking to incorporate elements of both the iTunes Store and Facebook in a single site. Following today’s announcement of Mr. Hall’s endorsement, its stock performed considerably closer to Facebook’s (NASDAQ: FB) than Apple’s (NASDAQ: AAPL) has recently.
All that said, Life Design Station has created quite the buzz in the music industry with its recent announcement of Backstage Vibe™. Backstage Vibe™ will allow real-time collaboration between artists and producers on its platform and promises to revolutionize how music is made, launched, marketed and monetized. Backstage Vibe™ will create a powerful community blending unparalleled music, e-commerce and artistic flow at its core.
Beyond the promise of collaboration through the social media platform, Backstage Vibe™ will allow artists, unlike on iTunes, to set their own pricing points as well as market merchandise in addition to their music. Promoters and produces, who have no place in the iTunes Store, will be able to market their acts and recording as well.
Following an overwhelmingly positive response to the announcement of Backstage Vibe™, Life Design Station also announced today that it would speed up the production of the platform which is now set for an August 15 launch. Life Design Station has seen immediate interest from artists who are presently pre-registering for its imminent launch.
While Backstage Vibe™ probably does not have Apple quivering in its boots yet, the platform could have far reaching effects on the industry and you should expect the build-up to Life Design Station’s launch to bring large moves in its stock price and continued trading well beyond its daily volume numbers. This is not to say that Backstage Vibe™ will revolutionize the music industry, but its stock should certainly not be ignored as it looks to catch the music industry up in the digital marketplace currently dominated by Apple and iTunes.
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