Anyone who has ever found happiness in knowing that their purchase of a CD helps to support one of their favorite artists should be thrilled by Bandstocks. The venture allows music fans to directly fund projects of both their favorite and up-and-coming artists via internet.
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Anyone who has ever found happiness in knowing that their purchase of a CD helps to support one of their favorite artists should be thrilled by Bandstocks. The venture allows music fans to directly fund projects of both their favorite and up-and-coming artists via internet.
The site was started by the music executives responsible for the success of Kaiser Chiefs and is already being touted as one of music’s most innovative new developments. If successful, the site is predicted to put up a strong fight against major labels.
Participating is simple: users choose an artist and give as much or as little money as they care to spare. The funding will typically go towards a specific project, such as recording a new album. In addition to helping out the artists they love, users who donate will receive a free copy of the album and portions of its profits. Other perks of becoming an investor include a place in the album’s credits and priority ticketing opportunities.
Bandstocks founder Andrew Lewis is hopeful that the company can fund at least ten artists in its first year. He also hopes that the more flexible funding model will allow artists more freedom than provided by traditional labels.
He expressed his optimism and belief in his venture, saying, “I had the opportunity to do deals with a number of record labels but I’m confident about my music and the future of Bandstocks, which seems to be a much more honest and transparent way to release records.”
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