Takin’ Care of the Music Business

As a lifelong rock musician wannabe, I was fascinated when I recently read about sellaband.com. Back when my hair was its longest and my music was its loudest, I fantasized about L.A. record producers. They would stroll in to one of my small Oklahoma bar gigs and offer my band a recording contract that included guarantees for fortune and adulation. Back then I wasn’t business savvy enough to know that my fantasy about international rock stardom should have featured investors, not promoters and producers.

Fast forward 20 mostly digital years – today’s musicians can sign up for sellaband.com and then wait for fans to start shelling out $10 per share (shares are actually called parts in the site’s terminology). When a band hits the $50,000 mark, it’s time to head for the recording studio. Bands, investors and sellaband.com then share in the profits of CD and download sales. Some media writers such as Kristina Dell at Time magazine are referring to this online business model as crowdfunding.

Of course, the bands at sellaband.com are primarily promoting original material, but I have some suggestions for a few cover tunes they should add to the live set list.

“Money (That’s What I Want)” – The Beatles
“She Works Hard for the Money” – Donna Summer
“If You’ve Got the Money, I’ve Got the Time” – Willie Nelson
Any songs by Bread or Eddie Money

And three cover songs to avoid:
“Money for Nothing” – Dire Straits
“Can’t Buy Me Love” – The Beatles
“Take the Money and Run” – The Steve Miller Band

Final word: PLUG IN but start with just a share or two for fun. You’re not likely to recoup your investment, but the site adds new meaning to Bachman-Turner Overdrive’s “Takin’ Care of Business.”

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~ by bakerumedia on September 8, 2008.

3 Responses to “Takin’ Care of the Music Business”

  1. Hey Dave, nice pic! Thanks for the Sellaband plug. I’ve had the good fortune of producing two albums for Sellaband artists and am optimistic that the site will catch on here in the states. Hope you keep checking out SAB artists and continue to spread the word.

  2. Hi Dave,

    Thx for featuring SellaBand on your blog. The bands indeed primarily promoting original material, most of the time it’s the best indication of an artist/bands worth buying Parts for. Hope you continue to “Plugged In” to SellaBand.

    Dimas
    SellaBand

  3. Wow, somebody call the Fonz. Get a load of that hair!

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