Tuesday, March 13, 2007

SellaBand

SellaBand has created a platform that enables fans to sponsor bands and get a piece of the action in return. This is how it works: fans, dubbed 'Believers', find an artist they like on SellaBand.com. For USD 10, they can buy a share, or 'Part'. Once the band has sold 5,000 parts, SellaBand arranges a professional recording, including top studios, A&R managers and producers. Believers receive a limited edition CD of the recording. The interesting twist is that the songs are then made available as free downloads. Income comes from advertising revenue, which is split three ways: artist, believer and SellaBand. Since both believers and artists benefit from getting 5,000 parts sold, both are likely to actively promote the band (and SellaBand) everywhere musicians and music fans are active: on their blogs, on their MySpace pages, in online communities, to their friends, etc. Once the recording has taken place, the same goes for SellaBand's download portal: artists and believers profit from ad revenues created by driving traffic to their download page.

So far, bands Nemesea, Cubworld and Second Person have reached the USD 50,000 target and have started recording, while a further 20 artists have racked more than USD 5,000.

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