Sellaband: Difference between revisions
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{{Infobox |
{{Infobox website |
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| logo = [[Image:Sellabandlogo.png|Sellaband Logo]] |
| name = Sellaband |
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| logo = [[Image:Sellabandlogo.png|Sellaband Logo]] |
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| screenshot = |
| screenshot = |
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| caption = A Sellaband profile |
| caption = A Sellaband profile |
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| type = [[Crowdfunding]] / [[Music]] |
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| language = English, German, Japanese |
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| language = English, German, Japanese |
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| author = Johan Vosmeijer, Dagmar Heijmans |
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| author = Johan Vosmeijer, Dagmar Heijmans |
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| funding = $5 Million |
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| slogan = Where Fans invest in Music |
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}} |
}} |
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'''Sellaband''' |
'''Sellaband''' was a [[music]] [[website]] that allowed artists to raise the money from their fans and the SellaBand community in order to record a professional [[album]]. Sellaband used the mechanisms of [[crowdfunding]] and was to be seen as a [[Direct-to-Fan]]/[[fan-funded music]] platform utilising a [[Threshold Pledge System]] / [[Provision Point Mechanism]]. It was set up by Johan Vosmeijer (ex [[Sony/BMG]]), Pim Betist (ex [[Royal Dutch Shell|Shell]]), and Dagmar Heijmans (ex Sony/BMG) in August 2006. Its offices used to be located in [[Amsterdam]], [[Netherlands]], but it was originally incorporated in [[Bocholt, Germany|Bocholt]], [[Germany]]. |
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On April 8, 2008, Sellaband raised [[euro|EU€]]3.5 million<ref>{{cite web|last=Pfauth|first=Ernst-Jan|title=Sellaband closes a round of € 3.5 million funding for international expansion|url=http://thenextweb.org/2008/04/08/sellaband-closes-a-round-of-e-35-million-for-international-expansion/|publisher=the Next web|date=2008-04-08| |
On April 8, 2008, Sellaband raised [[euro|EU€]]3.5 million<ref>{{cite web|last=Pfauth|first=Ernst-Jan|title=Sellaband closes a round of € 3.5 million funding for international expansion|url=http://thenextweb.org/2008/04/08/sellaband-closes-a-round-of-e-35-million-for-international-expansion/|publisher=the Next web|date=2008-04-08|access-date=2008-04-16}}</ref> ([[United States dollar|US$]]5 million)<ref>{{cite web|last=Butcher|first=Mike|title=SellaBand wins $5 million in Series A|url=https://techcrunch.com/2008/04/08/sellaband-wins-5-million-in-further-funding/|date=2008-04-08|access-date=2008-04-16|publisher=[[TechCrunch]]}}</ref> in their [[Series A round]] led by Prime Technology Ventures.<ref>[http://ptv.com/page/sellaband Sellaband<!-- Bot generated title -->] {{webarchive|url=https://web.archive.org/web/20080412052516/http://www.ptv.com/page/sellaband |date=2008-04-12 }}</ref> |
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In early 2009, Pim Betist left Sellaband to set up Africa Unsigned,<ref>{{cite web|url=http://www.africaunsigned.com|title=Africa Unsigned - Brands, Bands & Fans|work=africaunsigned.com}}</ref> using Sellaband technology as a base and supported by the Dutch government. |
In early 2009, Pim Betist left Sellaband to set up Africa Unsigned,<ref>{{cite web|url=http://www.africaunsigned.com|title=Africa Unsigned - Brands, Bands & Fans|work=africaunsigned.com}}</ref> using Sellaband technology as a base and supported by the Dutch government. |
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In January 2010, Sellaband filed for |
In January 2010, Sellaband filed for bankruptcy.<ref>{{cite magazine| url=https://www.wired.com/epicenter/2010/02/bankrupt-crowd-funded-sellaband-acquired-by-german-investors/ | magazine=Wired | first=Eliot | last=Van Buskirk | title=Bankrupt, Crowd-Funded SellaBand Acquired by German Investors | date=2010-02-24}}</ref> It relaunched days later, after an investor stepped forward. The office was relocated to [[Munich]], Germany.<ref>[https://www.sellaband.com/en/news/116-a-little-message News - A little message] {{webarchive|url=https://web.archive.org/web/20130528040737/https://www.sellaband.com/en/news/116-a-little-message |date=2013-05-28 }}. Sellaband. Retrieved on 2013-09-21.</ref> On August 28, 2015, the Sellaband GmbH filed for bankruptcy, too. This was rejected because of lack of mass by the District Court Charlottenburg on January 12, 2016. |
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For three years, Sellaband supported the sharing of revenue, a form of equity crowdfunding. Research from the ''Journal of Economics & Management Strategy'' examined investment data on the Sellaband platform during this time period. The data shows that, while investments can come from funders around the world, distance continues to affect the flow of funding and information.<ref>Agrawal, Ajay, Christian Catalini, and Avi Goldfarb. "Crowdfunding: Geography, Social Networks, and the Timing of Investment Decisions." ''Journal of Economics & Management Strategy'' Summer 2015 24.2 (2015): 253-74.</ref> |
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==SellaBand 2== |
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On October 1, 2009, SellaBand launched a new model that gave artists total flexibility in their fan funding plans and did not take rights. Any artist, signed or unsigned, could use SellaBand to fund any project.<ref>(Press Release) [https://www.sellaband.com/en/news/50-welcome-to-the-all-new-sellaband News - Welcome to the All New]. Sellaband. Retrieved on 2013-09-21. (Press Release) </ref> The new model also incorporated the change, that artists are free to choose how much money the want to raise. The minimum funding target is [[euro|€]] 3000,-- and the maximum funding target is [[euro|€]] 250.000,--. Artists can also choose if they want to integrate a [[revenue sharing]] option into their funding. The minimum incentive is a download.<ref>[https://www.sellaband.com/believer/new#artist Join]. Sellaband. Retrieved on 2013-09-21.</ref> |
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Artists can now choose different project objectives they want to fund: |
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* music recording; |
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* record releases (digital/physical); |
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* promotion and/or marketing campaigns; |
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* live concerts / touring / festivals; |
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* an exclusive fan product; |
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* a combination of all of the above;<ref>[https://www.sellaband.com/en/pages/how_it_works_artists Sellaband]. Sellaband. Retrieved on 2013-09-21.</ref> |
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On June 1, 2010, SellaBand launched a German version of SellaBand.<ref>(Press Release) [https://www.sellaband.com/en/news/135-german-version-is-online News - German version is online!]. Sellaband. Retrieved on 2013-09-21.</ref> |
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On August 27, 2010, SellaBand announced that the [[Dutch Central Bank]] (DCB) got in touch with SellaBand to investigate whether or not the 'withdrawal option' at SellaBand was a violation of the law on [[financial supervision]] (Wet Financieel Toezicht/ Wft). From day one the DCB stressed that they were never under the impression that SellaBand was willingly violating the law. After a couple of months of investigating they came to the conclusion that it is a violation of the WFT (article 3.5 of the WFT) and that SellaBand, since SellaBand isn´t and is not going to be a Bank, has to stop the withdrawal option. SellaBand then had stop the offer to withdraw money deposited to SellaBand from September 1, 2010 on. However, revenue earned with investments made in SellaBands artists can still be withdrawn from a SellaBand account <ref>(Press Release) [https://www.sellaband.com/en/news/174-refund-of-money News - Refund of money]. Sellaband. Retrieved on 2013-09-21.</ref> |
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On August 30, 2010, SellaBand announced that the lead [[currency]] would be changed from [[US$]] to [[euro|€]] after September 1st, 2010.<ref>(Press Release) [https://www.sellaband.com/en/news/183-from-dollar-to-euro News - From Dollar to Euro]. Sellaband. Retrieved on 2013-09-21.</ref> |
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==Believers== |
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{{Refimprove section|date=September 2012}} |
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Individuals interested in supporting Sellaband artists do so by buying "parts" in them. Believers can purchase any number of "parts" in a single artist or "parts" in multiple artists. |
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Until all parts are sold, the money collected from Believers in exchange for artist "parts" is held in an [[escrow]] account managed by a third party (Dieter Roesing, Rechtsanwälte und Notare, Bocholt), regulated under German Law,<ref>(Press Release) [http://www.sellaband.com/tribune/edition66/ Sellaband Tribune Article "Sellaband & Escrow"]</ref> and cannot be accessed by Sellaband or the artist. Any [[interest]] accrued during this period is kept by Sellaband.<ref>[http://www.sellaband.com/site/faq_believer.html Frequently Asked Questions - SellaBand<!-- Bot generated title -->]</ref> During this time Believers may sell back any number of "parts" they have in an artist, which are re-deposited into the Believer's Sellaband account, and buy parts in other artists. No money deposited in Sellaband can be refunded to a Believer, but only used to buy parts in another artist, although any revenues gained on the platform can be paid out to a PayPal account upon request. Once the target is raised, the Believers' funds are committed to the artist and the Escrow Agent transfers the funds to Sellaband for the recording project, less 15% administration fees. |
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==Partnerships== |
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In December 2007, the company announced a partnership with [[Amazon.com]].<ref>{{cite news |last=Kiss |first=Jemima |title=Amazon hooks up with bands site |url=http://www.guardian.co.uk/media/2007/dec/18/digitalmedia.web20 |date=2007-12-18|accessdate=2007-12-26 |publisher=[[Guardian Unlimited]] |location=London}}</ref> This was initially for the UK but has been successfully repeated with Amazon in Germany and USA. |
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In March 2009, SellaBand announced a deal to launch in USA with Chuck D’s music company, BTN (Bring The Noise) Management, in which the former Public Enemy front man will function as Sellaband’s "US ambassador."<ref>{{cite web|last=Van Buskirk|first=Elliot|title=Sellaband Launches Stateside with Ambassador Chuck D|url=http://www.wired.com/epicenter/2009/03/sellaband-launc/|publisher=Wired}}</ref> |
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In June 2010, SellaBand formed a partnership with [[Soundcloud]] giving artists the ability to import the music they have on their Soundcloud account into SellaBand without additional uploads.<ref>{{cite web|title = Website Update: 01/06/10|url = (Press Release) https://www.sellaband.com/en/news/134-website-update-01-06-10}}</ref> |
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==Events== |
==Events== |
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{{ |
{{More citations needed section|date=April 2008}} |
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Sellaband conducted three official concerts in [[Europe]]. |
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* "New Years Party" (January 2007), the Paradiso, Amsterdam, NL{{Citation needed|date=April 2008}} |
* "New Years Party" (January 2007), the Paradiso, Amsterdam, NL{{Citation needed|date=April 2008}} |
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* "London Calling" (June 2007), Gibson Studios, [[London]], [[United Kingdom|UK]]{{Citation needed|date=April 2008}} |
* "London Calling" (June 2007), Gibson Studios, [[London]], [[United Kingdom|UK]]{{Citation needed|date=April 2008}} |
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* "Sellabration - Birthday Party" (August 15, 2007 & 2008), the Paradiso, Amsterdam, NL{{Citation needed|date=April 2008}} |
* "Sellabration - Birthday Party" (August 15, 2007 & 2008), the Paradiso, Amsterdam, NL{{Citation needed|date=April 2008}} |
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Other Unofficial SellaBand events have included: |
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Sellaband artist appeared at "[[Concert At Sea]]" festival (June 2007) held in Brouwersdam, NL.{{Citation needed|date=April 2008}} |
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In addition, a number of concerts in Europe, [[Australia]], and the [[United States]] have been organized through the collaboration of Sellaband artists and believers.{{Citation needed|date=April 2008}} |
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Sell-A-Jam “One Night In Boston” took place on January 25 at [[Boston]]'s Paradise Lounge and featured Sellaband recording artist Lily Vasquez, with Sellaband listed artists [[Jon Robert and Delco]], [[Jess King]], and [[Wetwerks]]. The Sellaband Rio Grande Festival, was held in [[Truth or Consequences, New Mexico]] on February 22 and February 23. On the 13th of November 2009 Rave 'n Rock artists [[Resistor]] headlined “Resistor presents Sellaband Live” at Amsterdams [[Club Panama]] with Sellaband listed artist Hangover Sunday and the Dial -a- Poets. |
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<ref>google: panama sellaband live | http://www.panama.nl/nightclub/agenda.php?id=307</ref> |
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==Artists who reached their goal== |
==Artists who reached their goal== |
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86 artists reached their fundraising goal. In December 2009 [[Cubworld]] was the first artist, closing his second budget.<ref>{{cite web|url = http://www.sellaband.com/news/101-cubworld-becomes-first-artist-to-close-his-2nd-budget|title = (Press Release) Sellaband - News - Cubworld becomes first artist to close his 2nd budget|author = SellaBand|work = SellaBand}}</ref> Less than two weeks after [[bankruptcy]], [[Aryn Michelle]]<ref>(Press Release) [https://www.sellaband.com/en/projects/arynmichelle Aryn Michelle_LAST ONE... - album is being pressed and packaged!!]. Sellaband. Retrieved on 2013-09-21.</ref> was the first artist, closing her budget under the new SellaBand-management. In October 2010 [[Epyllion]] closed the first budget on Sellaband that was not used for recording new but for promoting of already released music. |
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In October 2010 [[Hind Laroussi|Hind]] was the first Sellaband artist, reaching a top 10 entry. Her album Crosspop started on No. 8 in the Dutch charts.<ref>{{cite web|url = https://www.sellaband.com/en/news/205-hind-s-album-crosspop-hits-top-10|title = (Press Release) Sellaband - News - Hind's album 'Crosspop' hits Top 10|author = SellaBand|work = SellaBand}}</ref> She was also the fastest funding artist on SellaBand managing to collect 40.000 EUR within 11 days.<ref>(Press Release) [https://www.sellaband.com/en/news/95-dutch-artist-hind-raised-40-000-in-11-days News - Dutch artist Hind raised €40,000 in 11 days]. Sellaband. Retrieved on 2013-09-21.</ref> |
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[[Public Enemy (group)|Public Enemy]] was the first major artist to sign up for SellaBand with a target of $250,000 in $25 increments.<ref>[http://www.sellaband.com/publicenemy Public Enemy - Thank Y... - 100%]. Sellaband. Retrieved on 2013-09-21.</ref> After a disappointing effort Public Enemy lowered their target to $75,000. They achieved this total on 28 October 2010.<ref>(Press Release) [https://hiphop.sellaband.com/en/news/213-congratulations-public-enemy Sellaband - News - Congratulations - Public Enemy!]. Hiphop.sellaband.com. Retrieved on 2013-09-21.</ref> |
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The following table shows the most notable artists that reached their funding goal on SellaBand: |
The following table shows the most notable artists that reached their funding goal on SellaBand: |
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| 5 || [[Electric Eel Shock]] || $50.000 || Album || 2008-25-06 || {{flag|Japan}} || first Japanese artist to reach a funding goal on SellaBand |
| 5 || [[Electric Eel Shock]] || $50.000 || Album || 2008-25-06 || {{flag|Japan}} || first Japanese artist to reach a funding goal on SellaBand |
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| 6 || [[Hind |
| 6 || [[Hind Laroussi|Hind]] || €40.000 || Album || 2009-12-06 || {{flag|Netherlands}} ||collected €40.000 within 11 days and charted on #8 in the Dutch charts |
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| 7 || [[Epyllion]] || €1500 || Promotion || 2010-10-20 || {{flag|Canada}} ||first artist raising funds for promotion of an already released record |
| 7 || [[Epyllion]] || €1500 || Promotion || 2010-10-20 || {{flag|Canada}} ||first artist raising funds for promotion of an already released record |
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| 8 || [[Public Enemy (group)|Public Enemy]] || €59.100 || Album || 2010-11-28 || {{flag|United States}} || first established artist raising funds on SellaBand |
| 8 || [[Public Enemy (group)|Public Enemy]] || €59.100 || Album || 2010-11-28 || {{flag|United States}} || first established artist raising funds on SellaBand |
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| 9 || [[Jonathan Davis]] || €25.000 || DVD || 2011-04-14 || {{flag|United States}} ||lead singer of [[KORN]] and first artist raising funds for a [DVD] |
| 9 || [[Jonathan Davis]] || €25.000 || DVD || 2011-04-14 || {{flag|United States}} ||lead singer of [[KORN]] and first artist raising funds for a [[DVD]] |
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| 10 || [[John Coffey (band)|John Coffey]] || €4.000 || Album || 2011-10-23 || {{flag|Netherlands}} || first [[hardcore punk]] band that completed a funding on SellaBand |
| 10 || [[John Coffey (band)|John Coffey]] || €4.000 || Album || 2011-10-23 || {{flag|Netherlands}} || first [[hardcore punk]] band that completed a funding on SellaBand |
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| 11 || [[Lana Wolf]] || €3.000 || Album || 2014-07-05 || {{flag|Netherlands}} || artist that will record a [[country]] album in [[Nashville]] |
| 11 || [[Lana Wolf]] || €3.000 || Album || 2014-07-05 || {{flag|Netherlands}} || artist that will record a [[country music|country]] album in [[Nashville]] |
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==External links== |
==External links== |
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* [http://www.sellaband.com Official website] |
* [https://web.archive.org/web/20070202022515/http://www.sellaband.com/ Official website] (offline) |
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{{Music digital distribution platforms}} |
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{{Crowdfunding platforms}} |
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{{Authority control}} |
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{{Digital Distribution Platforms}} |
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[[Category: |
[[Category:Mass media companies established in 2006]] |
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[[Category: |
[[Category:Crowdfunding platforms of the Netherlands]] |
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[[Category: |
[[Category:Defunct crowdfunding platforms]] |
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[[Category:Free music]] |
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[[Category:German independent record labels]] |
[[Category:German independent record labels]] |
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[[Category:Internet advertising]] |
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[[Category:Netlabels]] |
[[Category:Netlabels]] |
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[[Category:Online music stores]] |
[[Category:Online music stores of the Netherlands]] |
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[[Category: |
[[Category:Dutch companies established in 2006]] |
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[[Category:Mass media companies disestablished in 2010]] |
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[[Category:German companies disestablished in 2010]] |
Latest revision as of 10:10, 11 August 2024
This article may rely excessively on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral. (June 2015) |
Type of site | Crowdfunding / Music |
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Available in | English, German, Japanese |
Owner | Sellaband GmbH |
Created by | Johan Vosmeijer, Dagmar Heijmans |
Registration | Required for buying parts, not required for listening |
Launched | August 2006 / Bankrupt Feb 2010 / Relaunched Feb 2010 |
Sellaband was a music website that allowed artists to raise the money from their fans and the SellaBand community in order to record a professional album. Sellaband used the mechanisms of crowdfunding and was to be seen as a Direct-to-Fan/fan-funded music platform utilising a Threshold Pledge System / Provision Point Mechanism. It was set up by Johan Vosmeijer (ex Sony/BMG), Pim Betist (ex Shell), and Dagmar Heijmans (ex Sony/BMG) in August 2006. Its offices used to be located in Amsterdam, Netherlands, but it was originally incorporated in Bocholt, Germany.
On April 8, 2008, Sellaband raised EU€3.5 million[1] (US$5 million)[2] in their Series A round led by Prime Technology Ventures.[3]
In early 2009, Pim Betist left Sellaband to set up Africa Unsigned,[4] using Sellaband technology as a base and supported by the Dutch government.
In January 2010, Sellaband filed for bankruptcy.[5] It relaunched days later, after an investor stepped forward. The office was relocated to Munich, Germany.[6] On August 28, 2015, the Sellaband GmbH filed for bankruptcy, too. This was rejected because of lack of mass by the District Court Charlottenburg on January 12, 2016.
For three years, Sellaband supported the sharing of revenue, a form of equity crowdfunding. Research from the Journal of Economics & Management Strategy examined investment data on the Sellaband platform during this time period. The data shows that, while investments can come from funders around the world, distance continues to affect the flow of funding and information.[7]
Events
[edit]This section needs additional citations for verification. (April 2008) |
Sellaband conducted three official concerts in Europe.
- "New Years Party" (January 2007), the Paradiso, Amsterdam, NL[citation needed]
- "London Calling" (June 2007), Gibson Studios, London, UK[citation needed]
- "Sellabration - Birthday Party" (August 15, 2007 & 2008), the Paradiso, Amsterdam, NL[citation needed]
Artists who reached their goal
[edit]86 artists reached their fundraising goal. In December 2009 Cubworld was the first artist, closing his second budget.[8] Less than two weeks after bankruptcy, Aryn Michelle[9] was the first artist, closing her budget under the new SellaBand-management. In October 2010 Epyllion closed the first budget on Sellaband that was not used for recording new but for promoting of already released music.
Upon closure of the site, there were over 700 artists registered on Sellaband raising funds.
The following table shows the most notable artists that reached their funding goal on SellaBand:
# | Artist | Budget | Project aim | Closing date | Country | Notes |
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1 | Nemesea | $50.000 | Album | 2006-11-02 | Netherlands | first artist ever to complete a funding on SellaBand |
2 | Cubworld | $50.000 | Album | 2007-12-01 | United States | first artist ever to complete two fundings on SellaBand |
3 | Julia Marcell | $50.000 | Album | 2007-10-05 | Poland | first eastern European artist to complete a funding on SellaBand |
4 | BulletProof Messenger | $50.000 | Album | 2007-21-12 | United States | artist with most believers on SellaBand |
5 | Electric Eel Shock | $50.000 | Album | 2008-25-06 | Japan | first Japanese artist to reach a funding goal on SellaBand |
6 | Hind | €40.000 | Album | 2009-12-06 | Netherlands | collected €40.000 within 11 days and charted on #8 in the Dutch charts |
7 | Epyllion | €1500 | Promotion | 2010-10-20 | Canada | first artist raising funds for promotion of an already released record |
8 | Public Enemy | €59.100 | Album | 2010-11-28 | United States | first established artist raising funds on SellaBand |
9 | Jonathan Davis | €25.000 | DVD | 2011-04-14 | United States | lead singer of KORN and first artist raising funds for a DVD |
10 | John Coffey | €4.000 | Album | 2011-10-23 | Netherlands | first hardcore punk band that completed a funding on SellaBand |
11 | Lana Wolf | €3.000 | Album | 2014-07-05 | Netherlands | artist that will record a country album in Nashville |
See also
[edit]References
[edit]- ^ Pfauth, Ernst-Jan (2008-04-08). "Sellaband closes a round of € 3.5 million funding for international expansion". the Next web. Retrieved 2008-04-16.
- ^ Butcher, Mike (2008-04-08). "SellaBand wins $5 million in Series A". TechCrunch. Retrieved 2008-04-16.
- ^ Sellaband Archived 2008-04-12 at the Wayback Machine
- ^ "Africa Unsigned - Brands, Bands & Fans". africaunsigned.com.
- ^ Van Buskirk, Eliot (2010-02-24). "Bankrupt, Crowd-Funded SellaBand Acquired by German Investors". Wired.
- ^ News - A little message Archived 2013-05-28 at the Wayback Machine. Sellaband. Retrieved on 2013-09-21.
- ^ Agrawal, Ajay, Christian Catalini, and Avi Goldfarb. "Crowdfunding: Geography, Social Networks, and the Timing of Investment Decisions." Journal of Economics & Management Strategy Summer 2015 24.2 (2015): 253-74.
- ^ SellaBand. "(Press Release) Sellaband - News - Cubworld becomes first artist to close his 2nd budget". SellaBand.
- ^ (Press Release) Aryn Michelle_LAST ONE... - album is being pressed and packaged!!. Sellaband. Retrieved on 2013-09-21.
- BBC Radio 2 Interview (The Weekender with Matthew Wright - 3 November 2006)
- The Times (UK): Knowledge Section (26 November 2006)
External links
[edit]- Official website (offline)
- Mass media companies established in 2006
- Crowdfunding platforms of the Netherlands
- Defunct crowdfunding platforms
- German independent record labels
- Netlabels
- Online music stores of the Netherlands
- Dutch companies established in 2006
- Mass media companies disestablished in 2010
- German companies disestablished in 2010