New York - Major record label Universal Music Group announced on Wednesday that it has made an undisclosed equity investment in Loud.com, an online hip-hop community.

Loud.com is operated by Street Records Corporation (SRC), a venture led by Loud Records founder Steve Rifkind -- and also backed by Universal -- whose artists include Akon and Wu-Tang Clan.

The Loud.com portal offers a free competition that lets users download professional beats for 99 cents each, overlay their own rap tracks, and compete with other DJs and MCs, with the winner to be awarded $100,000 and a recording contract with SRC Records.

"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 and CFO 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."

Related Links:
http://www.umusic.com

http://www.loud.com

http://www.battlerap.com