Public Enemy Revisit Fan Funding Model for New Album
Back in October, Public Enemy made an attempt to raise money to produce their upcoming album by using the online music platform Sellaband – which allows fans to invest in their favorite artist's projects. The group set a goal of $250,000 to cover the funds needed to produce an entire album and marketing plan, but they fell short by a substantial margin.
Although they hoped to have amassed the sum by the end of 2009, when December rolled around, the grand total was only $71,000. Now Chuck D and Flavor Flav are giving Sellaband another shot, by setting a more reasonable goal. This time around the group is aiming to reach $75,000, which shouldn't be too difficult to achieve, considering that they broke the $70,000 mark just four months ago. "We have learned that the fan-funding model is still not fully developed and, as a result, a $250,000 fund-raising effort, while possible, will take too long to accomplish," the group said in a statement.
Since they kicked off the new initiative, the group has already raised $55,000, leaving them within close range of their goal. Fans can expect to receive merchandise such as free CDs and limited edition T-shirts with their investment.