Rap group Public Enemy wants to release an album — entirely funded by donations from their fans!
Say what?!
In return for investing in the project, fans will get albums, meet-and-greets and even a cut of the profits! Using website SellaBand, Public Enemy set a goal of raising $75,000 through donations.
They tried this once before with a goal of $250,000 but they topped out at $67,000. A statement says:
“We have learned that the fan-funding model is still not fully developed and, as a result, a $250,000 fund-raising effort, while possible, will take too long to accomplish…As a result of our SellaBand experience and all that we have learned, we now believe that a $75,000 fund raising target will fulfil the needs for a new recording project and is much more appropriate for the strength of the existing SellaBand model and the current economic climate.”
Maybe you should just fund the effing album yourself and let the fans buy it when it’s ready?
That business model seems to have worked for quite some time now!
[Image via WENN.]
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