Last month, this column mentioned Sellaband.com, a site that enables fans or “believers” as they’re called, to donate towards an artist’s album recording fund and share in the potential profits. Sellaband scored a huge coup last week when rap hall of famers Public Enemy chose the site to raise money for their forthcoming album.
Chuck D, Flava Flav and co. are hoping to raise $250,000, the site’s most ambitious funding project yet at sellaband.com/publicenemy. PE have always been at the forefront of championing net music technology. They were one of the first groups to release MP3s from their own website and have advocated artist-owned releases for a decade or so.
“Believers” are able to buy single $25 shares and each share entitles them to: a numbered copy of the album, an early download version and 33% of the net revenue for the first five years divided amongst them. (more…)
