Public Enemy Give Fan Funding Second Chance
Rap legends Public Enemy have relaunched their campaign to release an album funded entirely by fan donations, just four months after their last attempt failed.
The hip-hop group, fronted by Chuck D and Flavor Flav, announced plans to turn devotees into investors last September (09) after teaming up with specialist website SellaBand - an online fan-funding engine, which gives supporters the chance to help finance their idols' projects in exchange for albums, meet-and-greets and even a cut of the profits.
Public Enemy's appeal started strong, pulling in $50,000 (£31,250) within a month from fans donating a minimum of $25 (£15) each - but the cashflow stalled in December (09), totalling just over $67,000 (£41,875) - well short of the band's goal of $250,000 (£156,250).
The group subsequently abandoned the album plans - but they've decided to give the initiative another shot, and have set their new target at $75,000 (£46,875).
A statement from Public Enemy reads, "We have learned that the fan-funding model is still not fully developed and, as a result, a $250,000 fund-raising effort, while possible, will take too long to accomplish...
"As a result of our SellaBand experience and all that we have learned, we now believe that a $75,000 fund raising target will fulfil the needs for a new recording project and is much more appropriate for the strength of the existing SellaBand model and the current economic climate."
And the band's new approach is already paying off - they've raised $56,325 (£35,203) since relaunching their campaign on Monday (12Apr10).
Public Enemy have not released a new album of material since 2007's How You Sell Soul to a Soulless People Who Sold Their Soul???.