I’m not sure how long Sellaband has been around, and I’m still trying to decide if it’s a good idea. In short, you have two groups on the site: bands and fans. And just like MySpace music, a band has a page and uploads a few songs and fans aggregate around that page, listen to your songs, and hear about your live events.
What’s different with Sellaband is that it’s centered on a financial model. A band needs to raise $50,000 from its fans to hit it’s goal, or at least Sellaband’s goal — $10 per fan, $20 per fan, whatever you can get from your fans — at which point Sellaband will give you an A+R rep to record and distribute your album to whatever fans gave you money.
An interesting concept, but will it work? You’ve got three songs to impress your fans — if you can impress them enough to give you $10 in hopes they will eventually get an album out of it, good for you. But there’s a chance their $10 will be lost. On a local level, maybe this works if you can get your fans out to your shows on a consistent basis — and give them some sort of discount or extra perk for being a Sellaband fan as well.
A bigger question I would have as a band member is: do I really need $50,000 to do an album? Seems like overkill, especially if you already have three songs on your Sellaband page that are good enough to get a fan to give you $10. You must already know what you’re doing, recording-wise. And do I want an A+R guy breathing down my neck? It’s the old model for the music business, the one that has been dying since the Internet took over the music industry.