Bands funded by their fans — Update: over USD 1 million invested

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Last week, SellaBand celebrated their first anniversary with a ‘SellaBration’ in Amsterdam’s pop temple, Paradiso. Our description of the concept when they launched: aiming to empower independent artists, SellaBand has created a platform that enables fans to sponsor bands, and get a piece of the action in return. How it works: fans, dubbed Believers, find an artist they like on SellaBand.com. For USD 10, they can buy a share, or ‘Part’. Once the band has sold 5,000 parts, SellaBand arranges a professional recording, including top studios, A&R managers and producers. Believers receive a limited edition cd of the recording.

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