With all the problems the music industry is having, artists and entrepreneurs are looking for new business models.
The Guardian has a report today about a new venture that allows music fans to invest in new bands and share in the future profits — if there are any. The business, called Bandstocks, “is being billed as the latest innovative funding model that could provide artists with an alternative to major labels,” the Guardian article said.
So far, the enterprise has launched with just two artists — singer-songwriters FrYars and Jersey Budd.
Some similar projects have gotten off the ground in the last few years, including the ArtistShare project that allows fans to fund their favorite artists’ recording efforts.
The Guardian story also includes an audio interview with Bandstocks’ founder Andrew Lewis about how the business is envisioned to work.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
