The rap collective have signed a deal with fan funding engine SellaBand, and are aiming to raise $250,000 in increments of $25 in order to record and release the as-yet-untitled album. In return, fans who invest in the album will receive a share in the revenue of the album, as well as a numbered copy of it.
How could you not want to fund these guys, they are "The Originals" - what a great idea.
33% of album revenue returned to investors, sounds like a free cd with potential upside for my $25 investment.
If they sell enough cd's top generate $757,576 in revenue then $250,000 will be returned back to investors.
Sounds like a great opportunity to me.
(BTW I'm loving track 2, already played it like 3 times).
Interesting article. Thanks for sharing. It sounds like a good idea for some bands.ReplyDelete
We need a new platformReplyDelete
In the last few days Rap Giants Public Enemy have joined Sellaband.. google it in News .. its everywhere .. See what they have to say about it..
Here is their page at sellaband they been their 2 days are are at 10% of their required funding.
Sellaband is absolutely awesome, fans enjoy being part of the projects. Fans decide what music they want to hear recorded by becoming believers in the acts they want to hear.
In a time when illegal downloading has ravaged the music industry. Fans having some sense of ownership with the music they love, is a great way forward.
Essentially with fan funding. A band just needs a great promotional team, leading to less need for singular investment by large companies & a more close connection with their music fans.
Sellaband has until now been developing the platform with independendents starting out.
As Public Enemy said on their sellaband blog..
“When the tide rises so do all the ships”
This is the way forward in music.