Major Shakeup At TuneCore
CEO/Pres. Jeff Price, Co-Founder Peter Wells Exit
August 16, 2012 at 5:08 PM (PT)
TUNECORE CEO/Pres. JEFF PRICE and co-founder PETER WELLS have both left the company after weeks of rumors of in-house infighting, the HOLLYWOOD REPORTER reports. TUNECORE is an online distribution service that allows independent artists to sell their music at online retailers like iTUNES and AMAZON.
Launched in 2005, TUNECORE claims that 10% of iTUNES' 20 million songs and four percent of all digital sales, according to the New York Times. The company launched a publishing division in 2011.
Reports of dissension at TUNECORE, with "hostile relations between people at the company" leading to PRICE being forced out, first surfaced a few weeks ago, but sources at the time told the REPORTER that they were false. YESTERDAY, however, PRICE announced his exit in the form of an open letter posted on his blog. He does not divulge his next move only to say that an announcement is forthcoming.