SONG CONTEST BLOG

When SellaBand launched in August 2006, it introduced music fans and unsigned artists to a revolutionary approach to creating music together.

Today, I discovered that the service (as we know it) is down for good.

Posted on the SellaBand website:

On Friday February 19th, SellaBand AG requested provisional suspension of payments (moratorium).  This was granted by the Court in Amsterdam on the same day.  Yesterday, Monday February 22nd, this moratorium was changed into bankruptcy, with appointment of, Mr Paul Schaink, an amsterdam lawyer, as trustee.  The trustee wishes to inform the ‘Sellaband community’ that, apart from a few technicalities, the completion of a transaction with a potential buyer of the business, is to be expected soon, in order to make a fresh start, safeguarding both the rights of Believers and Artists.  More news will follow shortly.

On behalf of the trustee,

Johan Vosmeijer
CEO SellaBand

25-year old female singer, Hind, completed her fund raising project on SellaBand, the foremost fan-funds-artist platform.  In just 11 days, Hind, a former Pop Idol from the Netherlands, raised €40,000 ($60,000) to record a new studio album.  Almost 1,000 Believers (fans) from over 50 countries invested an average of $5,500 per day, a new artist fund raising record!

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When Sellaband launched in August 2006, it introduced music fans and unsigned artists to a revolutionary approach to meeting and collaborating with one another.  By providing a financial incentive at the very core of its proposition, the German upstart pioneered an investment platform that provided fans with a stake in their favourite artists’ assets, and artists with a means of raising capital for recording and distribution from the folks who care about them the most: their fans.  A seemingly far-fetched idea, the platform took off and, today, boasts an extensive fan funded artist base that has managed to raise over $2,200,000 collectively.  Although a handful of fan funded music dotcoms exist, including SliceThePie and TheNextBigSound, Sellaband is leading the trend that has yet to illustrate its full potential as an industry shifting force.  The company is now setting its sights on the US market with a high-profile endorsement from Chuck D.