Sellaband is a new website based in Germany that enables independent artists to connect with fans who are willing to sponsor (buy a ’share’ in) their first album for a potential share of any profits off of advertising revenue - the album itself will be available for download free of charge. It’s a fantastic idea and one that I can see both bands and fans embracing. The long-term potential for loyalty and communication increases as consumers are able to feel a sense of ownership in “their” bands fate. In terms of marketing and word of mouth awareness it’s a winner as well. Fans have a vested interest in the band succeeding and will spread the word. On the flip side, with feedback mechanisms in place (i.e. purchasing shares/ parts and enabling community interaction), musicians are able to get a valuable sense of what’s resonating, and what is not.

According to the Springwise newsletter, a month after launch and Sellaband has signed over 250 artists from 30 countries, and has sold over 2,500 ‘parts’ at $10 a pop from a user base of 1,500.

Welcome to Indie Music 2.0.

Now if they just start making user-generated band tees, we’ll have a proper mash-up.

[photo credit: Poagao on Flickr]

Tags: Sellaband; Springwise