Launched in August 2006, Sellaband has been making efforts to bring in revolution in the music industry. The website was launched by the veterans of music companies, which include Johan Vosmeijer, Pim Betist, and Dagmar Heijmans. It was introduced with an objective to assist a number of aspiring artists financially and enable them to realize [...]
Launched in August 2006, Sellaband has been making efforts to bring in revolution in the music industry. The website was launched by the veterans of music companies, which include Johan Vosmeijer, Pim Betist, and Dagmar Heijmans. It was introduced with an objective to assist a number of aspiring artists financially and enable them to realize their dreams and change their lives. In its short existence Sellaband has appreciably supported numerous artists, who were selected from over a dozen different countries, through its platform. On Friday February 19th 2010, SellaBand AG requested provisional suspension of payments (moratorium). This was granted by the Court in Amsterdam on the same day. Sellaband was declared bankrupt on February 22nd 2010. They found a buyer in the same month. Sellaband is now owned by German investors.
Sellaband is a web-based interactive platform that aims at assisting bands to raise money for creating new albums. It’s a collaborative website that encourages the passionate musicians and aspiring artists to sell their bands’ “parts”, so as to raise predefined funds for creating their music album and allows listeners to invest in these bands. The website primarily aims at reinvigorating the music industry through the exposure of new talents, who are otherwise facing financial hindrances in showing their music genius. Sellaband is to bring in a healthy change for the benefit of global music industry. The basic motto that drives the efforts of this website is, “To unite Artists and Fans in an independent movement that aims to level the playing field in the global music industry.” Through this website, struggling artists can sign up and upload their music tracks on the website. While the users check out the website and listen to their tunes, and if they like the tunes, they can encourage the artist to create a music album by paying $10 as donation, thereby adding some amount to the band’s kitty. If a band succeeds in collecting $50,000 as a donation amount, Sellaband helps them to record an album with studio and an expert producer. After the album is released, the investors receive a copy of the album, and the revenue so generated is proportionally distributed between the artists and their fans. Sellaband has always made an honest and sincere search for bringing up the budding talent in music industry. It connects the fans, or ‘believers’, as Sellaband calls them, with artists. In addition to allowing fans to play a significant role in encouraging their favorite artists, the website also lets the believers earn significant amount of money, if their artists become successful.