Macroblog

About Me

Crowdsourcing: A Definition

  • I like to use two definitions for crowdsourcing:

    The White Paper Version: Crowdsourcing is the act of taking a job traditionally performed by a designated agent (usually an employee) and outsourcing it to an undefined, generally large group of people in the form of an open call.

    The Soundbyte Version: The application of Open Source principles to fields outside of software.

The Rise of Crowdsourcing

  • Read the original article about crowdsourcing, published in the June, 2006 issue of Wired Magazine.
Blog powered by Typepad

« Sellaband - Crowdfunding Music | Main | Crowdsourcing for Content in Japan »

August 29, 2006

Comments

Shazz

Would be interesting if believers -- who have their band pull out before the 50K -- could decide to keep their pooled money and get behind another band right away, rather than go through the nickle/dime build-up all over again. Perhaps they could have other bands "pitch" them for a period of time? This gives the group an identity, like a true investors' pool.

Johan Vosmeijer

@ Shazz

When bands pull out, people can get directly behind another band and don't need to pay any extra transaction costs at all. Actually, you can decide to put your money elsewhere at any time before a band has reached 50K and as many times as you want!
By the way, we will have a Believer forum up there shortly, and a new tool that enables bands to communcate with their Believers directly.

Best,
Johan Vosmeijer
SellaBand

chuck

so, how likely is it that bands will ever stop tryign to raise the money? won't many peopel rather leave it there than let down their band? If you realyl cared about this, you woudl allow investors to submit money anonymously - so they could take it out anonymously. aren't you really just earning interest on the money the fans put into the account? Isn't it true that most bands will never reach this absurdly high total? Isn't it true that no matter how they try to get their "favourite producer" you will pressure / con them into taking yours?

It seems to me that the only real advantage of a "regular recording firm" is that they actually promote the bands that they think will do well. sellaband doesn't even bother doing that. why should they. they don't come across as the getting their hands dirty type. It's just a cheap way of getting their hands on cash for no effort.

I would look underneath the white hat they purport to wear, something tells me this is not really about supporting musicians, but lining pockets, using the money, dreams and hard work of young hopefuls. Jsut a new cynical way of doing it.

Derek

I have looked at this site and I don't believe that its a scam at all. Recently one of the bands, Nemesea, reached the $50,000 mark. I was unsure about the site, I put in $40 and bought 4 parts in the band. I'll just have to wait and see if sellaband delivers and how much it delivers.

I would like to note that another band on the site, Cubworld, is over the $12,000 mark and several others are over the $5,000 mark. The growth of the site looks better everyday however only time will tell if the sellaband concept is viable or not.

Jeff Howe

Wow, Nemesea hit their mark! Good for them. We might need to do a follow-up on Sellaband. Thanks for the tip, Derek. I should say, however, that my point wasn't that Sellaband wouldn't work. I'm more troubled by the notion that it will. I don't like the deal Sellaband offers its bands (specifically, the publishing), which isn't to say I distrust the company's motives; Johann, the managing director. He says Sellaband just wants to give unsigned bands a chance to record with professionals, and that it's a work in progress. I want to believe him. All the more reason to express skepticism now, to serve as a nudge in the right direction.


Charlie

The publishing is something i'm also sceptical about. Ok, if a writer does well they tend to sign a publishing deal anyway and in doing agree to split their publishing (over all their future works) with the company. This is on the premise that the company has a good deal of clout to push the songs and also collect on royalties owed. A well-connected company with good resources could do this - how well connected are sellaband's publishing team?

Also, how can anything be legally binding between sellaband and the artist(s) until anyone has formally signed a contract. Surely, it can't with or without the 50k goal being reached. right?!

I'm most concerned about where sellaband's commitment to the artist stops. Is it after the 5000 CDs have been manufactured? Are there any plans for a release schedule or is all this just for the purposes of recording? As many artists know this is only a fraction of the battle involved in breaking an unsigned act.

Think i'll check some more FAQs!

trailmusic@googlemail.com (in case anyone wants to share info)

Charles

Personnaly I think Sellaband is a brilliant idea, there's much more in it for bands than any other promotion site like MySpace. Question is though, what is going to happen to the 1000s of dollars that where "invested" in bands that will never make the 50K mark? You can bet that a whole lot of people who have invested in a band, will forget about it or lose interest if that band doesn't make. Some of these believers will "re-invest", but certainly a lot of money will just end up on the Sellaband escrow account, which will never reach the band or return to the investor. If it's true Sellaband can't touch it, what is going to happen to it? And if Sellaband can touch it anyway, they are probably counting on this factor, rather than have all bands reach the 50K mark. I so hope I'm wrong on this last point, as it will probably mean the end of the fairy tale if this comes out.

sam

I wish someone would give us money to promote, Id sell. lol
We use myspace to promote our band. whats cool is the automation software out there like http://www.myfriendbuilder.com/ it automates adding friends and emails. Probably not for what you are useing myspace for but it is great for bars and bands.

Bob Slayer

Japanese hard Rock & Roll band Electric Eel Shock signs up to Sellaband to finance their 3rd commercially available album (and 6th album in total) through Sellaband...

Sellaband have 21 artists that have reached the 50k and we aim for EES to join them very soon
EES are nearly half way to the $50k in a week
www.sellaband.com/eelshock

EES have previously released albums through labels large and small such as Roadrunner Records.
They have been performing an average of 150 gigs a year around the world since 2002 and toured in over 30 countries...

EES: "We have been watching Sellaband develop for two years and believe that compared to the traditional industry it is a much more artist friendly deal where EES will have control over their own recordings..."

Sellaband: "it is great to see that established bands are joining Sellaband - this concept is not just for new artist but is for any artist..."

This si not the first time Electric Eel Shock have financed their own recordings through fans - previously they set up the Samurai Club where 100 fans paid £100 in return for guestlist for life. the money was used to finance previous release beat Me which was then licensed to several labels including Roadrunner in Japan.

Sellaband raised $5million recently which will be spent on expanding the infrastructure of Sellaband in order to be able to more efficiently support artists internationally. A London office opens in june with New York planned for later in the year.

shakti

Anyone from Sellaband want to comment on why users have to pay prior to hitting 5,000 committments. Wouldn't it be easier to get people to committ if they did not have to pay until reaching 5,000 committments? The interest on the $10 committments will not outweigh the increase in the number of funded bands/ad dollars by changing the system to not require prepayment.

Louis Vuitton Outlet

Wow, Nemesea hit their mark! Good for them. We might need to do a follow-up on Sellaband. Thanks for the tip, Derek. I should say, however, that my point wasn't that Sellaband wouldn't work. I'm more troubled by the notion that it will. I don't like the deal Sellaband offers its bands (specifically, the publishing), which isn't to say I distrust the company's motives; Johann, the managing director. He says Sellaband just wants to give unsigned bands a chance to record with professionals, and that it's a work in progress. I want to believe him. All the more reason to express skepticism now, to serve as a nudge in the right direction.

Buy Trampolines

Thanks for taking the time to post such a detailed and informative article. It has given me a lot of inspiration and I look forward to more like this in the future.

asics gel

your article is very nice..
thanks for sharing.. it is interesting

asics

your article is very nice..

thanks for sharing.. it is interesting

asics onitsuka tiger

gained a new fan.I look forward to more of your

christian louboutin

A myriad of fires light the night
  From our camp on the river bank.
  The shrieking snowstorm breaks my dream
  Of my peaceful, tranquil home.

christian louboutin shoes

First, it helps to keep us fit. We all need fresh air. Besides, by taking morning exercises we can improve our health.
Second, it can help us in our studies. In the morning we can learn more quickly.

christian louboutin shoes

Everyone should have a love.Because love is pure.We can not to pollute it.Love is wonderful.
She is a good girl.She helped everyone.She study very well.But almost more than I.hehe.

Laser Pointer

One day people will understand you .

Kamala Beach

Love is the singke most purest thing there is, love should be embraced by all.

Crystal Admiral

I would love to see other bands pitch for a period of time. In all this could give the group an identity, somewhat like a true investors' pool. Don't know if this is possible, but it would be interesting.

new year sms

I was unsure about the site, I put in $40 and bought 4 parts in the band. I'll just have to wait and see if sellaband delivers and how much it delivers.

Vacature systeembeheerder

The advantage of a normal recording firm would be that they promote bands -they think- will do well. The Sellaband we now talk about, isn't even doing that. Getting cash without doing work or getting their hands dirty.

Trein naar Parijs

Thanks for sharing this article with us. Love to read more on this Sellaband. Wanted to leave a comment before leaving.

Laser pointers

understanding is everything!

The comments to this entry are closed.