Public Enemy Give Fan Funding Second Chance

Public Enemy Give Fan Funding Second Chance

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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???.


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