Dutch startup Sellaband, which enabled music fans to invest in their favorite bands, last week on Friday requested provisional suspension of payments in their home country. It was promptly granted by an Amsterdam Court, and was this morning changed into full bankruptcy. However, a message that was posted on the Sellaband website claims that an acquisition of the business is imminent, and merely a matter of a “few technicalities” as they call it.
We at Muztec believe however that the concept around Sellaband is not viable on the long run. Already 99% of the bands on Sellaband don’t generate a single sponsored dollar. Also, the biggest bands that might be able to generate revenue via the site are not exactly impressed by the site. Or as one pointed out to Muztec: “Representing ourselves as beggars is not exactly the image we prefer to spread… instead we do earn enough to invest this back into recording an album. If you are relying on Sellaband you are either a very poor musician or a very poor manager of your own business.”
February 25th, 2010 at 6:49 pm
[...] and its community alive. Moreover, I have spoken at length with the people who have bought sellaband.com and am totally convinced that they are just as committed as we always were to build a solid future [...]