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Buy Shares In A Band? Think Of The Possibilities...

Posted Mon Oct 12, 2009 10:27am PDT by Luke Lewis in The NME Blog

Do you fancy bankrolling Public Enemy's next album? If you answered "Yeeeaaah booooyyy!" you'll want to visit Sellaband, where a new venture enables you to do just that

The veteran hip-hop act, who are currently unsigned, are aiming to raise $250,000 to fund their 13th studio album, the follow-up to 2007's ludicrously titled How You Sell Soul To A Soulless People Who Sold Their Soul. Fans can buy shares, or "parts," for $25 each. The amount raised so far stands at $18,000--enough to keep Flavor Flav in lurid novelty clockfaces, but not much else.

Still, Chuck D seems optimistic. For him, the partnership signposts a gleaming future for artists, outside the old, crumbling major-label structure. "Sellaband is the new frontier," he says. "It will completely redefine the way the music business operates."

No it won't. The fan-funded "model" has been knocking around for years. We already have Pledgemusic, Bandstocks (which admittedly helped Patrick Wolf raise £100,000 to record The Bachelor), Slice The Pie, and IndieGoGo--all of them united by the fact that they attract more fawning writeups in the tech press than they do actual users.

What's the point? If Public Enemy have enough of a fanbase to fund an album, why do they need Sellaband? Why don't they appeal to their fans direct--as Marillion have been doing since 2001? And what's in it for the people who stump up cash? Sellaband is vague on the subject: "Artists might even let you get a cut a cut of their revenues." Yeah. But they won't, will they?

The whole enterprise fundamentally alters the relationship between band and fan--and not in a good way. In theory, it's of a piece with Nine Inch Nails "open-sourcing" their back catalog via their open-to-all, copyright-free remix site, or Radiohead inviting amateurs to make their own videos for "15 Step." Putting fans in charge, democratizing "content," yadda yadda. But the difference is, in this case, actual money changes hands. The moment you contribute to band's recording costs, you're no longer a fan, you're a shareholder. And if you think that's cool or desirable, you're Bono.

That said, the concept of fan-funded music raises some intriguing questions. Namely: if you have financial stake in the album, do you also have a say in how it's made? In Public Enemy's case, could you, for example, tell them to ease up on the excruciating puns (Muse Sick-N-Hour Mess Age? Come on chaps, I've heard Carter USM couplets that were less labored than that)?

But there's a serious point here: If fans hold the pursestrings, they also ought to have power of creative veto. I envisage a Dragon's Den-style scenario, where musicians queue up, with pleading eyes, desperate to attract the largesse of fans: "I'm sorry, The Rev, you're a good guy, I liked 'He Said He Loved Me,' but your new album sounds like a sh*t Bentley Rhythm Ace. I'm out."

You could extend the concept to any band that's fallen on creative hard times. Do you think, if R.E.M. fans were in charge, they'd settle for an album as limp as Accelerate? Of course not: They'd blockade the studio doors, force them to keep plugging away until they came up with a song as good as "Finest Worksong."

Me, I'd force Muse to ditch the tedious, wobbly-voiced ballads and focus on writing more of those gigantic riffs that sound like spaceships exploding. And I'd assert my shareholder's rights by telling Arctic Monkeys to give up trying to sound like Queens Of The Stone Age and start sounding like that thrilling, spiky Sheffield band they used to be.

Imagine the possibilities. If you had shares in a band, any band...what would you tell them to do?

7 Comments

1. Kuroma Essen... -
If I had shares in a band, it would be in Metallica, that way the shareholders would get them back to playing real metal.

2. Yahoo! Music User -
Personally, I think I will stick to investing in Wal-Mart. Thanks, though.

3. Yahoo! Music User -
That's insane to be able to become a share holder for a band. This kind of reminds me of how fans of this one band I can't think of off the top of my head at the moment wanted to contribute together to buy them out of their ex record label's contract since they weren't doing anything for them at all.

4. Yahoo! Music User -
I think we as fans already finance the bands we love enough. For example we buy cd's or pay for downloads of new music when it is released. Then once the artist decides to go on tour we buy tickets to the nearest venue, whether it be in our city or within a days drive. Then when you get to the venue we buy refreshments and band merchandise at a huge cost. 35$ for a t-shirt that has been screenprinted for the total cost of around 10$ a shirt maybe, considering the qantity of the purchase. Myself personally don't buy merch anymore due to the cost of it all. I do still go to every show I want to see, but I don't invest as much into it as I used to. Bands make a killing off of merch sales and get a pretty cosiderable cut of ticket sales, cd's or download sales. Not to mention he fact that the "big time" acts also have endorsement deals with instrument companies, clothing companies, food and beverage companies and a host of others. So how much money are they really spending to do a tour? Not that I won't support them anymore as far as cd's or ticket sales but I don't get caught up in the "other stuff". Although it would be nice to have some control in the music they do release to us. But there again my favorites rarely let me down anyway so have at it boys, gimme what you got.

5. Yahoo! Music User -
DOMPET KEMANUSIAAN "ONLINE PROMOSI"
DOMPET KEMANUSIAAN
SALURKAN BANTUAN ANDA KORBAN BENCANA GEMPA JAWA BARAT: TABUNGAN SIMPEDES BRI NO REKENING KE:5328-01-014373-53-7,A/N DOMPAK SIAHAAN

VICTIM EARTHQUAKE IN JAWA BARAT-JAKARTA -INDONESIA
DELIVER AID: SEND TRANSFER TO NO ACC TABUNGAN SIMPEDES: 5328-01-014373-53-7,A/N DOMPAK SIAHAAN NO ACC TABUNGAN SIMPEDES: 5328-01-014373-53-7,A/N DOMPAK SIAHAAN

SEND NEWS: TO PEOPLE IN EROPEAN DON'T TO COUNTRY INDONESIAN AND SEND NEWS: TO THE PEOPLE INDONESIAN GOING TO COUNTRY INDONESIAN SEND NO ACC TABUNGAN SIMPEDES: 5328-01-014373-53-7,A/N DOMPAK SIAHAAN

DO YOU WANT MARRIED ME GOING TO COUNTRY EROPEAN AND PRINT LETTER MARRIED SEND TO: MR.TS AND SEND:NO ACC TABUNGAN SIMPEDES: 5328-01-014373-53-7,A/N DOMPAK SIAHAAN

SEND NEWS: TO pewntagon:TEMBAK MATI:lempar granat,pasang dinamit,bom,rudal ( salah satu dari itu ) SARANG KERBAU AND SARANG MR.KERUPUK,
BAKAR ( burn ) pakai minyak bensin lalu lempar PAKAI korek api dan kill dan tembak MATI pakai kalau masih ada di dalam pakai senjata,lempar granat,pasang dinamit,bom,RUDAL ( salah satu dari itu ) TEMPAT ITU,SEND:NO ACC TABUNGAN SIMPEDES: 5328-01-014373-53-7,A/N DOMPAK SIAHAAN

thanks

From
FELIX ( ABANG NATO ) with carry mr.rudal( mr.george bush from america )

6. Joseph -
I think I'd invest in The Killers. . . they just keep pulling incredible concert runs. Also, I'd probablt invest in the automobile industry domestically since there is Noooo way that Obama is going to let that go under again. Maybe some franchises like Walmart, Wendy's, etc. Maybe some Apple?!

7. hecko -
Joseph, I have 3 things for you to think about.

1. Learn how to use "Spellcheck"...It's probably not probablt? WTF
2.The Killers....for real!!! They suck. They have maybe 2 good songs and the rest is crap.
3. Obama is "The Killers" of the USA. In other words...Not too impressed with his work either. He's going to do 1 or 2 good things before his reign of terror is over. The only difference is, I'm still waiting for him to do them.
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