WHAT IS SELLABAND?
Sellaband is a crowd-funding website for musicians that allows artists to raise money to record an album, release an album, marketing campaigns, touring, and much more.
With Sellaband artist can reach out to their fans and the Sellaband community to raise their funding goals and in return offer incentives, such as a free album, T-shirt, show tickets, ect.
To begin, artists upload sample music to Sellaband.com and post project details on what they want to do (make an album, tour, promote) and what their funding goal is. They also offer rewards for contributions, which usually increase as the contribution amount increases. Fans, dubbed “Believer”, can then contribute money to the funding target. If the funding goal is met Sellyourband.com works with the artists to make sure their project is completed.
Sellaband does not charge a fee to post a project bur rather takes a 15% cut of a bands funding goal, assuming they meet the goal.
From their website:
Sellaband provides an alternative to the traditional music industry. It is a platform that empowers artists to execute their next music project, funded by their fans. The fundamental difference is that instead of taking a financial stake in your project we enable you to raise your budget from music fans. This will give you maximum flexibility and control over your music. SellaBand is able to support artists through the community and use it’s economies of scale to put together some very interesting deals, however you are responsible for the success of your project and your own career.
Artists upload their music and profile. Music lovers find artists they like and believe in. A predetermined Part price (plus transaction/administration costs) buys them a piece of the action. And this will make them a Believer of the artist. When the budget is reached, the artist will execute the plan. Fans get the incentives that the artist has provided. From now on bands and believers are in it together.