ArtistDirect Sold

Relativity Digital is reportedly in the final stages of unloading some of its assets to an undisclosed buyer for about $1 million.

Those assets include ArtistDirect and, also known as the Ultimate Band List, a database hosted by ArtistDirect. The names don’t carry much weight anymore, but during the dot-com boom of the ’90s, ArtistDirect held a tremendous amount of promise.

ArtistDirect was founded by Marc Geiger, currently head of WME Music, along with agent Don Muller, and is credited with being the first internet company to create a direct connection between artists and fans. ArtistDirect went public in March 2000, a week before the bubble burst.

Geiger exited the company and joined WME in 2003. AristDirect said it generated $12 million in revenue in 2008 but had nearly $48 million in losses, according to Deadline Hollywood.