There’s a new fan-promoted band shares concept type of thing in the frame, Bandstocks, a brainchild of the gang behind B-Unique Records (Kaiser Chiefs, et al.) and Civilian Industries (run by music industry lawyer Andrew Lewis).
The service – which must be seen as something akin to SellaBand and SliceThePie – lets fans invest in new acts to help them record albums. However, unlike the other two sites, the bands are pre-selected by a team of experts – which, given the involvement of a succesful label – makes one consider if its really just a way to make fans pay first for the label to issue music releases, though that notion feels very cynical.
Bandstocks come in £10 units. Investors’ money is held in a separate trust account until the album fund is raised and returned to the investor if the required funding level is not reached. Artists are also promised “a bigger share of the recording income than under any other record deal we know about, while fans, in return for their investment, receive both acknowledgment and a share of the proceeds to reward their commitment,” the site explains.
“There are plenty of websites for unsigned, unsignable bands, but www.bandstocks.com isn’t one of them,” said music industry lawyer Andrew Lewis. “It’s not that we don’t believe in democracy, it just works better if you don’t put 10,000 names on the ballot paper.”
For each Bandstock, fan investors get:
– A share of the income generated by the album (pro rata share of 30% of net receipts)
– A credit on the first run of albums produced and a credit on the website
– A free high-quality download of the album
– The right to buy a signed limited edition of the album at a discount
– Behind the scenes website access
– Special privileges as agreed with the artist (priority gig booking, premium album packages at a special price etc.).