Bands funded by their fans | Update

A month after launching, music portal Sellaband just announced that it has signed up over 250 bands from more than 30 countries. As described in our previous article, Sellaband enables fans to invest in bands they believe in. More than 1,500 fans have signed up so far, buying over 2,500 stocks (or parts, as they’re known on Sellaband). Parts let bands and ‘believers’ share profits from cd sales and advertising revenues on www.sellaband.com. One band, Nemesea, is close to USD 10,000 in budget, and has attracted fans from all over the world. The band is determined to reach the end goal of USD 50,000, which will let them record an album with professional help. On the production side, Sellaband has formed partnerships with renowned producers such as Chris Kimsey, Haydn Bendall, James Poyser and Tony Platt, who’ve worked with a host of music legends, ranging from Bob Marley and the Rolling Stones to Jill Scott and The Roots. May bands and fans continue to unite! It’s a fun investment for consumers and a great new way for bands to get their first album produced.