Awesome Music, Innovative Business Plan
Posted on Saturday, January 27, 2007 by Charlie ChambersWhat do you get when you mix …
- the music streaming of last.fm with
- the viewer feedback of American Idol with
- the predictive power of idea futures markets and
- the payoff of Project Green Light or My Dream App ?
It’s SellaBand.
Users vote with $10 shares (or “parts”) who should get the green light for a trip to the studio. Sound familiar? Here’s the new twist — the investors in the winning band get some of the profits.
The totally liquid market lets you swap your investment to another band in a snap, but when $50,000 rests on one band their contract is triggered. I suspect this leads to some really interesting game theory applications as the totals get close (my math geekery is hard to suppress). Two bands have already made it – but this is not a competition that just ends, it is a continuing strategy to get new talent together with new money.
Frank Roche
Jan 27th, 2007
Okay, I am listening to the Top 20 stream right now with my morning coffee. Fun stuff. I’m going to invest. Just going to figure out who. I like the French one, Clemence, so far.
Frank Roche
Jan 27th, 2007
I “believed” in two artists — Clemence and Daniel Ward-Murphy. Ward-Murphy’s song “She’s a Knockout” is my new favorite song.