In the music industry one persistent model seems to be fan-financing and a UK band that started out on a fan-financing site seems set to make it big in the States. Newcomers Scars on 45 got funded by fans on website Slicethepie and has now landed a multiple record deal with big US label Atlantic Records.
Website Slicethepie offers a model for fans to contribute to artist’s albums in return for credits on the album and free records and merchandise. Fans act as talent scouts, choosing to put their money behind their music taste.
It’s not just a success for the band… according to Slicethepie, “fans who invested in Scars on 45 back in 2008 will enjoy a double triumph – seeing their band on the verge of breaking the biggest music market in the world and pocketing an impressive 800% profit on their investment.”
Scars on 45 are an Indie/Acoustic pop band from Leeds.
It all shows that we’re not out of love with old media just yet – clearly getting into the big labels is still the goal, but bands aren’t only relying on music industry talent scouts to get their names out there in the first place.