Public Enemy Struggles To Maintain Fan Investors For Album
February 19, 2010 08:02:00 PM CST | by Salima Koroma
When Public Enemy first announced in October that they would be utilizing fans as a resource to fund their $250,000 album, the idea was met with skepticism. According to Billboard.com however, by the end of December, the group had raised $71,000 through Sellaband.com, a website which allows fans to make investments in artist's projects.
Yet, the success of the fan-funded venture ended there. Since reaching the amount of $71K, the project has lost investors who have taken a total of $4,000 along with them. Although PE has raised far more money than other groups through the website, the amount that each of their fans invests is quite low compared to others, due to unappealing incentives. For example, while a $100 investment offers investors a CD, a credit in the booklet, and an extra CD at half-price, a $250 investment adds in only a Public Enemy limited edition T-shirt.
Since December, Public Enemy has slowed down on updating its Sellaband page. The duo may be struggling to reach their $250,000 goal, however there is no word yet on if the project will scrapped.
From HipHopDX.com
http://www.hiphopdx.com/index/news/id.10674/title.public-enemy-struggles-to-maintain-fan-investors-for-album
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