Sellaband is a new kind of musicians marketplace, with some fascinating differences. First of all, the object of the site is to let artists and fans collaborate and share in any earnings from eventual CD and advertising sales. Secondly, the site offers a top notch recording contract at a major studio for any band that raises $50,000 worth of contributions from their fan-base. Why would fans chip in? Why for a share of those future CD and site advertising revenues, of course.
It’s really kind of a wild idea and if it wasn’t for the fact that some serious producers are lending their names to the venture, you’d have to query its legitimacy. The biggest problem overall that I can see is that raising $50,000 has got to be a hard, hard process, no matter how good your music is. It’s probably just easier to record your own CD at lower quality and knock those out online and at your gigs. [Thanks Gary]
In total there are 5,000 so called Parts of $10 each. So, what you have to do is find 5,000 Believers who will buy 1 Part. Or find 2,500 who will buy 2 Parts. Or find 1 Believer who buys 5,000 Parts. Anyway, we think you get the picture. For the first time fans and Artists can be in business together. Therefore each Artist issues 5,000 so called Parts. Parts cost $10 (plus transaction costs) each. Together Believers have to raise $50,000 to get their Artist of choice in the studio. At any point before your Artist has reached the Goal of $50,000, you can withdraw your Parts and pick a different Artist. You can even get your money back. It’s your music. It’s your choice…Find More Believers Once you’ve reached 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 state-of-the-art Studio.