SellaBand – Fan Funded Music 2.0
September 29th, 2009 by Lior Shamir
Since 2006, artists raising funds on SellaBand had to reach the $50,000 mark to cash out (see previous post). In a recent post on their blog, SellaBand announced that the company has reconsidered the model and will implement a flexible funding goal structure (from $10,000 to $100,000) which should make the platform accessible to more artists.
“When SellaBand was launched in 2006, we set out to make a difference. A lot has happened, a lot has been achieved. Over the years, the world SellaBand is operating in has changed, our environment has changed and our ideas of what the role of SellaBand as a company is has changed. Almost on a daily basis we are being approached by bands, managements and labels, asking if they can somehow use the SellaBand concept and change it to their own liking.”
SellaBand is the first online platform to introduce the concept of fan funded music. Anyone can invest in a SellaBand artist. Once the artist has reached his or her funding goal, all Investors receive a free limited edition copy of the CD. Artists and their Investors share equally in the revenues of album sales.
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