Need Money to cut a CD? Then Sellaband

Filed in archive Artists , Companies , Finance , Innovation , Marketing on May 31, 2007

Germany-based SellaBand takes online donations to the next level for new artists by banding together small contributions in a method it calls crowdsourcing.

Artists upload a few cuts, send their fans and visitors to the site, and hope that they attract enough interest. If they get 5,000 people to donate $10 each, the band is launched and everybody wins. SellaBand arranges for a professional Recording studio and producer. In return the donating fans get the digital music for free.

SellaBand has already attracted almost 4,000 bands and artists and tens of thousands of fans from 75 different countries. Five artists have reached the critical $50,000 mark and are moving into production. 20 are achieved over $10,000 in contributions. Bands have raised a total of $750,000 in funds so far.