I was listening to an NPR podcast and they profiled Jill Sobule’s new record that was funded by fans and consumers. Jill raised $75,000 from her fans and one person actually paid $10,000 to sing on a track.
Pretty cool concept. It’s kind of like an entertainment version of Kiva. It’s a perfect solution for all of those non-mainstream musicians who are getting killed on declining record sales and need to play live shows and find non-traditional revenue. Of course you have to record new music to stay relevant and that’s not cheap.
Of course all of this has me wondering how it applies to marketing brands and starting businesses. I’m still piecing that together in my mind. Any thoughts/ideas from anyone out there?