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Public Enemy Lower Expectations on Sellaband Deal
- Posted on Apr 12th 2010 6:45AM by Chris Mugan
Public Enemy have rejigged their plan to raise money to record their next album via fund-raising website Sellaband, with distinctly lower aims than in their original offering. Then based in Holland, Sellaband achieved something of a coup when the hip-hop stars came to them to fund their recording through shares offered to members. Yet the site filed for bankruptcy in February, as Spinner reported, when Public Enemy had only received pledges for $71,000 (£46,000), well short of their $250,000 (£162,000) target.
On Monday, April 12, Public Enemy announced they now aim to raise $75,000 (£48,600). In a statement on Sellaband, the group said, "We have learned that the fan-funding model is still not fully developed and, as a result, a $250,000 fund-raising effort, while possible, will take too long to accomplish."
They added, "We also have reached the conclusion that we will no longer include expenses for sales and marketing in our fund-raising budget and goals." So far, Chuck D and cohorts have raised exactly $55,700 (£36,117) -- that's 74 percent of their goal.
Sellaband was sold in February to new owners based in Munich, Germany. The new chief executive, Michael Bogatzki, said in a statement to Sellaband users, "We will continue to advance this fantastic platform while acting in the spirit of the Sellaband community and its founders."
- Filed under: News
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Chris
1 reply to Chris's comment
Have there been any fan-funded success stories? Fan funding seems like a pretty good idea.
August 27 2010 at 12:36 PM Report abuse Permalink rate up rate down Reply
Furious George
Not really. Sellaband, Pledge, Bandstocks haven't really launched any careers. Patrick Wolf put out a record with the help of Bandstocks, not sure if you could call it launching a career tho.
September 03 2010 at 5:37 AM Report abuse Permalink rate up rate down Reply
ManicD
DJ, When you consider what these guys get (the amount of money) for what they do (stand in front of a Mic in a plush studio. Probably Criteria in Miami) and curse in rhyme. Then for my five bucks, they should have to give me the Fararri of my choice. Oh Luke, just so you know, I prefer either an Enzo or an F50. Now you can tell me where I can send the check. If I don't hear from you, should I assume, NO DEAL???
April 12 2010 at 4:08 PM Report abuse Permalink rate up rate down Reply
David
This fool is a rapper..he should get his money the way all rappers get their money for their recordings....by selling drugs and shooting people. Be legit, Public Enemy! If you don't work what you rap, your just a poser piece of crap!
April 12 2010 at 2:42 PM Report abuse Permalink rate up rate down Reply
DJ
Geeez, what happened to the millions these guys made back in the early 1990's? They're so broke they have to beg fans for money to produce a new album? Will they be giving this money back to the fans when its done? Free copies of the cd for everyone that donates? Free tour?
I honestly cant see giving money to a band for an album that I'd have to go out and purchse when released.
YaALLreDunDanT
people are waaaaaay too sensitve these days - what the hell are all ya's afraid of , my God , get the 'F' over it, ya bunch of cry babies .
April 12 2010 at 2:07 PM Report abuse Permalink rate up rate down Reply
Capeaux
They should pick up shovel and raise their money shoveling the crap they rap .
April 12 2010 at 12:44 PM Report abuse Permalink rate up rate down Reply
Dennis
InsanityQn,it is much easier to be offended than do research.
April 12 2010 at 11:34 AM Report abuse Permalink rate up rate down Reply
Robert S.
The only people who would take offense at this are self loathing, white liberals, the inventors of political correctness.
April 12 2010 at 11:31 AM Report abuse Permalink rate up rate down Reply
InsanityQn
re·jig·ger (rē jig′ər)
transitive verb
to adjust or alter the arrangement, structure, terms, etc. of
also Brit.rejig re·jig′, rejigged -·jigged′, rejigging -·jig′·ging
geez, use google once in a while b4 being offended
17 Comments