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Investors Put $10 Into Your Band - And the Band Raises $5,000
Bands are grassroots cultural treasures and it's been difficult to raise the funds needed to run a band like a business.
The Internet is spawning new financial models in global philanthropy, venture capital...and now, the arts. Expect to see more companies use the eBay and political campaign fundraising strategies to provide funding for the arts, and small business.
Crowdsourcing has become popular with business authors and journalists as shorthand for the trend of leveraging the mass collaboration enabled by Web 2.0 technologies to achieve business goals. However, both the term and its underlying business models have attracted controversy and criticism. See Wikipedia-Crowdsourcing
for more about crowdsourcing.
Perceived benefits of crowdsourcing include:
5,000 so called Parts of $10 each are offered to supporters -- so, what you have to do is find 5,000 Believers who will buy 1 Part....or more.
You will have to accept a number of important conditions that will protect the position of both the artist(s) and the participating music lovers. Then you create your own Artist page that will appeal to your supporters...and you're ready to tell your fans where they can find you, your website, and your investment program.
When you reach the goal of $50,000, SellaBand will provide an experienced A&R person to guide your recording process. Together with a top Producer, you get the chance to record a collection of your best songs in a studio.
Your investors will receive an exclusive CD with the result of your professional studio-recordings. Three of the songs will be given away for free on the SellaBand website for promotion. And the remaining songs will be sold as paid downloads.
Advertising revenues will be shared by the Recording Artists, their Believers and SellaBand.
The band can also order regular version CDs, and the band is still responsible for promotion of their business through the Internet and their real-world connections.
SellaBand was founded by Pim Betist, a passionate music lover. Instead of using his masters degree to climb the ladder in the corporate world, he gave up his job. Pim had a vision of how things could be different in the music industry, all he needed was to get in touch with the right people to pursue his dream. Then he met Johan Vosmeijer and Dagmar Heijmans and SellaBand was born. Vosmeijer is an experienced professional in the European music scene. He ran the legendary labels Epic and Columbia for Sony Music in the Benelux, and most recently he was the driving force behind the launch of Red Ink, a boutique label for SONY BMG.
Some of the participating artists include: Cubworld (US), Second Person (UK), Lily (US), Solidtube(Austria), Mandyleigh Storm (Australia)
Read more about the Germany-based SellaBand at Wikipedia.
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