Matt
September 4th, 2008, 01:49 PM
Linky! (http://www.guardian.co.uk/business/2008/aug/27/musicindustry.investing?gusrc=rss&feed=uknews)
It may not be the most obvious investment choice in these turbulent economic times. But a new venture is seeking to convince music fans to place their savings as well as their faith in rock 'n' roll.
The music executives behind Kaiser Chiefs and Primal Scream are backing a new website that will allow music fans to invest financially as well as emotionally in hotly tipped new acts.
The venture, dreamed up by a music business lawyer and backed by the founder of Friends Reunited, is being billed as the latest innovative funding model that could provide artists with an alternative to major labels.
Bandstocks will let the public buy a stake in an artist in £10 increments. Once funding reaches a preordained level, for example £100,000, the money will be released for the act to record an album.
Not too sure about this method, sounds like it could be very frustrating for an artist, but I'll keep watch on it to see how it goes. Either way its cool that people are trying new things, even if they fail, there is a lot of oppurtunity out there, you just gotta find a way to tap them.
It may not be the most obvious investment choice in these turbulent economic times. But a new venture is seeking to convince music fans to place their savings as well as their faith in rock 'n' roll.
The music executives behind Kaiser Chiefs and Primal Scream are backing a new website that will allow music fans to invest financially as well as emotionally in hotly tipped new acts.
The venture, dreamed up by a music business lawyer and backed by the founder of Friends Reunited, is being billed as the latest innovative funding model that could provide artists with an alternative to major labels.
Bandstocks will let the public buy a stake in an artist in £10 increments. Once funding reaches a preordained level, for example £100,000, the money will be released for the act to record an album.
Not too sure about this method, sounds like it could be very frustrating for an artist, but I'll keep watch on it to see how it goes. Either way its cool that people are trying new things, even if they fail, there is a lot of oppurtunity out there, you just gotta find a way to tap them.