Sponsorship and patronage have
(re-)emerged as legitimate alternatives to the bankrolling of artists by record labels in recent months.
If record labels don't have as much money to spend on artists, the theory goes, let someone else -- consumer brands, coalitions of fans, governments -- pitch in money so that musicians have a little more time, money and latitude to get creative in the studio. Two visions come to mind: communities generously rallying around beloved artists by pitching in a few dollars so that they can keep producing good work, and brand-sponsored acts writing TV-commercial soundtracks as they create crassly commercial albums that bear the stamps of fast-food joints or light beers on their virtual album covers, sacrificing precious
authenticity in exchange for enough cash to put gas in the van.
While the latter seems sadly inevitable, the former just might see the light of day, as well.
Bandstocks, a Web site operated by U.K.-based Civilian Industries plc and
profiled in the Guardian this week, allows fans to invest in bands in £10 increments (currently $18.30) to function as a cash advance before a record is produced. Once a target budget amount is reached, the record goes into production. An investor will eventually receive a copy of the album upon completion and a percentage of any profit it generates, as well as a thank-you in its liner notes. Among the startup's investors is Steve Pankhurst, a co-founder of reunion and social networking site Friends Reunited, now a
property of ITV Network Ltd.
Bandstocks' crowdsourcing strategy echoes that of Amsterdam-based startup
Sellaband.com, in which early-stage firm Prime Technology Ventures has
invested, and British startup Slicethepie.com. To my knowledge, there's still no U.S.-based site that compares with the three, which makes me wonder whether Americans will choose that crassly commercial version of sponsorship instead. But if the cash register that once stood between an artist and a consumer has been
replaced by a tip jar, these three sites give hope that maybe the jar will fill up for deserving musicians.
-- Paul BonanosSee Apr. 8 story in The Deal concerning SellabandSee Guardian profile of Bandstocks
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