Wednesday, November 07, 2007

Making music & money

Have you heard about Radiohead’s new album? The band has made “In Rainbows” available for online download with users allowed to pay as much or as little as they’d like for the music.

There’s been much discussion of how the average person has paid (“more than half pay nothing” or “the band isn’t telling, so we don’t know”, but the bottom line is that without a record label taking a hefty share of sales, the band is likely to do very well.

Here’s another alternative to the major record labels - SellaBand.
The company offers this description of its model: “Artists and fans have one goal. Make music and money together. Artists upload their music and profile. Fans find artists they like and believe in. $10 (plus transaction costs) buys them a piece of the action. $50,000 gets the artist in the studio. Fans get an exclusive CD send to their homes. Artists make their dream come true. From now on bands and believers are in business together. You are the record company!”

More on how it works here: http://www.sellaband.com/site/how-it-works.html

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