Public Enemy asks fans to invest in new album
Public Enemy is turning to its fans to help finance the recording of its 13th studio release. The legendary hip-hop group has joined SellaBand, an Amsterdam-based web community where fans, or "Believers," can buy shares--or "parts"--of an upcoming album in exchange for an incentive.
PE is offering 10,000 parts for $25 each to record and promote the worldwide release of its 2010 album, according to the SellaBand website.
The band has set up a seven-level incentive plan, beginning with "Believers" who will receive an exclusive numbered CD in Digipak in exchange for one part purchased. Additional incentives range from an autographed CD and exclusive T-shirt to an unlimited-use backstage pass for three years and producer credit.
The top incentive, limited to five investors, is 400 parts ($10,000) which includes all the extras plus a studio visit during the recording session.
PE is the first major recording artist to enlist the fan-funded site, which launched in August of 2006 and has helped fund recordings for more than 30 artists from the U.S., Europe, the UK, Japan, South America and Canada.
Since announcing its SellaBand venture on Oct. 6, more than 400 Believers had invested nearly $20,000 in the upcoming PE album by the morning of Oct. 8.