Now here is an idea that goes way beyond American Idol. The fans of these artists actually get to own a piece of them!
Who wouldn't want a business model where your customers do 100% of the marketing for you? That is exactly what Pim Betist, Johan Vosmeijer and Dagmar Heijmans (who previously worked for Sony) have created with their new venture, SellaBand.
It's a very interesting concept. Bands record their original music and upload it to the Sellaband website. Music fans (called Believers) choose a band they like and buy "parts" of that band for $10 each. Once $50,000 is reached, Sellaband produces and records a CD of the band's music and sends each Believer of that band a CD. After that, the music is offered a a free download, and advertising revenue is split between all the parties, distributed annually.
Heineken has already signed on as an advertiser, and I have no doubt that this venture will land other big companies as sponsors. If done right, and it seems that the folks behind this idea are on their way to doing that, this just might be the next Myspace or Youtube.
It sounds like a win-win-win situation for everybody. I mean, for $10 who wouldn't take a chance on possibly owning a piece of the next Rolling Stones? I'm in! Now, I just have to find a band whose music I like, and then start spreading the word.
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