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Self-Funding Your Career

Pim Betist Creative Director/SellaBand

AP: Describe how your program works:
PB: SellaBand enables unsigned artists to record a professional album funded by fans.

Fans can back the unsigned acts in $10 (£4.91) "parts". Visitors to SellaBand.com can browse the profile pages of thousands of bands and listen to tracks free and select acts that they want to back. They can buy one or more of its 5,000 parts. Once all 5,000 have been sold, the band uses the $50,000 fund to record an album with a top producer.

When the album is ready, all backers - called "believers" - receive one limited-edition CD per part purchased. Backers can keep or sell these, at a 10 per cent profit, on a personal SellaBand homepage. You are also paid 1/3 of income from CD sales, and of advertising revenue from banners on SellaBand.com.

AP: What are the costs involved?
PB: There are no costs for Artists to sign up. Believers invest $10/per album.

AP: What is the average amount artists can raise?
 PB: 50,000 dollars. It's not an average. It's a threshold.

AP: How do artists benefit from your program?
 PB: Artists end up with a professionally recorded album; Earn 1/3 of all income from their music sales and site advertising income; Have a unique way to meet fans and artists; Enjoy artistic freedom

AP: What are the risks?
PB: We've made the system risk free. As a believer you can always get your money back before the 50,000 target is made. Once the 50,000 is reached an album is made and sent to your home. I guess the worst that can happen is that you don't like the album you funded and that it doesn't sell. You then invested 10 dollars in an album you don't like.

From an artist point of view, there is also no risk involved. It costs nothing to sign up and 1/3 of the revenue is shared with you once the album starts selling. There is no advance to be paid back, like you would have to with traditional labels, but if you really want to be sure of what you're getting into please read the terms and conditions. All contracts are there for everyone to read, in legal AND in "human readable" language.

AP: How can musicians maximize their SellaBand account?
PB: Artists should direct all their friends, family & fans to their Sellaband page. And they should place banners on their myspace page and other social networking sites with links to their Sellaband profile. The community of music fans is keen on discovering new talent. You can message them on their profile pages or leave a comment in the forum.