A while back I wrote an introduction to Sellaband here on ArsGeek. The concept is simple. Find a band you like on the site and invest in them. Investing is done by purchasing a ‘part’ in a band. Each part runs $10 (US). Once their investment peaks at 5000 parts, that band is given studio time and resources to produce and press their CD.
Every person who’s invested in the band becomes a’believer’ and receives a pressed CD and rights to the MP3′s of the entire album. In addition to this, any sales of the CD beyond the initial run for investors sees money returned to the band AND those who own parts.
It’s a model I’m interested in because it allows the fans to have a stake in their favorite artists. They invest the initial money and have a chance to see a return on their investment based on how well their bands perform (or in this case, sell and perform).
Here’s my profile if you’re interested in checking out what I’m listening to on Sellaband. Joining up is free, investing in a band is $10 a part and about a buck in service fees.
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December 7th, 2007 at 5:42 am
I actually took the time to write about how Sellaband was started out if you would like to take a look. http://blog.timelineonline.org/2007/09/sellabandcom-where-did-they-come-from.html
I also have a better idea of how the money works written at http://blog.timelineonline.org/2007/10/sellabandcom-where-does-money-go.html
Of course 1 of my blog readers asked about the Escrow account and so I wrote about that too http://blog.timelineonline.org/2007/11/sellabands-escrow-account.html
I agree I love the company I also enjoy the community if you ever want to stop by my profile is http://www.sellaband.com/believer/netvalar/