Dave Dobbyn's greatest hits album was ironically titled: Overnight Success. Celebrating the years of writing, playing in town halls and pubs before ascending to the status of minor deity. If only there had been MySpace in the 80's…who knows what could have happened? Now there is an global venue for musical performers. And, as I write , a young New Zealand hip-hop performer, Maitreya, is at number 7 on the chart. What the?!…How,…
It's simple really, …there is a new web site called sellaband.com that is a fusion of user-generated content and the wonderful old internet chestnut of disintermediation.
Here's how it works. The unsigned artist, like Christchurch's Maitreya (who is currently living and working in New York), signs up to the site. He uploads his work and a profile. Users vote with their wallets. If you like an act you spend $10 (US) to buy an interest, a share - if you like - in their future success. When $50k has been raised by fans, known as 'believers', a professionally produced album is made.
Here's where it gets interesting. The believers get a return on their investment. Once the threshold has been reached the proceeds from sales of the CD and advertisng revenue on the site are distributed to believers.
I love it. The site makes money. The artists get an audience. The audience invests. The artist, the site and the audience all benefit from the success (which they have mutually created) and their willingness to promote - no one preaches like the converted.
Forget the T.A.B and Lotto, take a stake in your punt.
Imagine if you'd invested in U2 in the early 80's.
What do you think?
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