Public Enemy Cuts Its Next Album With Sellaband's Crowd-Funding
Tuesday, October 6, 2009; 7:24 AM
Hip hop pioneers Public Enemy will partner with fan-funding site Sellaband to finance their next album. Public Enemy is one of the first established acts to sign up to Sellaband's new custom funding program and aims to raise $250,000 for the album in $25 increments. Public Enemy was incidentally also one of the first acts to release music on MP3.
Amsterdam-based Sellaband allows artists to request support from fans, or in Sellaband parlance "Believers", who invest anything from $10 up in an album. Funding music this way is not for everyone but it does add a novel and badly-needed niche to the music business ecosystem. Sellaband's next challenge is to prove that fan-funding can work for artists at any stage of their career and that the model will transfer from Europe to the US. The Public Enemy announcement is an attempt to hit both of those birds with one stone.