Sellaband - European Web 2.0, Content 2.0
Posted on September 14, 2006
Filed Under Channels and Content, European Web 2.0, People's Web 2.0 |
I’m often behind the times with searching out new interesting sites and services for the future media world. This one is new to me and may be new to you. I put it here because the underlying principle is applicable across different media projects.
Sellaband allows fans (or investors) to buy a share in their future recordings. the site hosts the bands and allows those with money to pop to find bands they believe in - they then become Believers.
The band has to find 5,000 believers who will part with $10 each or of course anything from 1 to 5,000 believers parting with $50,000 down to $10. But the site itself recruits Believers so it’s not all the Band’s responsibility.
“In total there are 5,000 so called Parts of $10 each. So, what you have to do is find 5,000 Believers who will buy 1 Part. Or find 2,500 who will buy 2 Parts. Or find 1 Believer who buys 5,000 Parts. Anyway, we think you get the picture.”
Sellaband then connects the band with experienced A&R folks and top line producers.
I found out about it on startup.gr, a Greek start up site that also develops tagloop (see below).
Sellaband is based in Bocholt Germany project but they’re connected across London, Amsterdam and of course the USA.
technorati tags:European, Web, 2.0, music, content, bands, sellaband
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3 Responses to “Sellaband - European Web 2.0, Content 2.0”
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Here’s an interesting take on the sellaband concept. Wake up and smell the coffee, folks
http://distributedresearch.net/blog/?p=157
1.
mike said,
on September 25th, 2006 at 1:28 pm
I think what has to be borne in mind is that like anything related to stardom, sellaband is selling a dream to people, where in reality almost nobody will truly benefit from it.
Note also that the sellaband owners have access to free cash to invest and earn interest from. You, as a “believer” are financing them to create a savings fund, or worse, and investment fund. what about the money the “believers” place in the band? Shouldn’t the band earn interest on the funds placed? after all, they have done all the hard work in selling the “believers” into putting up their cash.
bear also in mind that almost no band will hit the 50,000 target but they will all try, hoping that others will hop on this get easy money scheme concocted by sellaband. Thus money will build up in someone’s coffers earning someone interest. For free.
and in the end of the day, once you HAVE the money, what do they do with it? They SPEND IT!! ON THEMSELVES! yes, you get to take that money ad give it to these “professionals” to make a one-off product of unguaranteed quality or results. And do you even get to choose the professionals who work on producing your album? Of course not!!!
and will the bands stop hounding their friends to give them money? Will they lose friendships if the believers, after a year of seeing nothing descide they want their money back? You betcha.
calling the investors “believers” is another way of making it hard for people to take their money out of the scheme once it’s in. I can hear the cries now, in a year’s time, when your dodgy garage band hasn;’;t made it big, and only 250 dollars including the 100 you got from your grndmother, the 50 you took from yuor savings account, is all you heve. “So, you don’t believe in me, is that what you are saying?”
this is a fairly cynical scheme, and seems to be siply several streams of income into the pockets of devious music industry sharks. The long tail is log indeed, there are suckers born every minute and this amply takes advantage of several thousand more of them, using nothign more than selling a dream. It’s not an MLM, but offers about teh same chances of success to dreamers of making it big through it.
word!
Here’s another take on SellaBand - Is it worth the hype:
http://www.theplugg.com/2006/11/01/sellaband-is-the-hype-real/