Tuesday, 23 October 2007
Investing in new music
In this article of The Independent, they explain how you can invest and help new
Sellaband was the first to set out its online stall last year. Its concept is that fans invest money in the bands showcased on the website; if the group becomes the next Coldplay, or even the next CSS, the fans stand to get a return.
Slicethepie recruits online "scouts", who are paid between 5p and 25p to listen to and review tracks, which can be uploaded by any band who wants their music to be heard. Bands who impress the scouts (who rate tracks on a scale from one to 10) can then go on to "float" on the market and fans can buy shares – from a minimum value of £10 upwards. In return, fans receive a copy of the album and a right to buy tradeable "bets" on how many albums the artist will sell over the next two years.
AmazingTunes is a site where unsigned bands can upload their mp3. 70% of revenue from all tunes sales – after bank charges and taxes – will go straight to the artist.