In an interview with NME magazine, Chuck D of the group Public Enemy revealed some details about the financing of a new album.
In a new business formula, the New York group that has been making music since 1982, is asking fans to invest $25 in the production of their upcoming album. In exchange, every investor will receive a numbered copy of the album and a share of the profits that album sales will bring.
Public Enemy has teamed with the Web site Sellaband, which allows artists to seek funding from their fans in order to make records. In exchange, the investors get a share of the profits.
Public Enemy’s goal is to raise $250 000, and have already recruited more than 400 investors in just 2 days.