In October, Public Enemy made headlines when they announced plans to fund an upcoming album through their fans with a deadline set for the end of 2009.
They were doing this via a platform called Sellaband where fans become investors. Their goal was to reach around $250,000, but stalled at $71,000 by December.
Since then, they've lost a few investors.
According to Billboard.biz, the group's funding stands at just over $67,000, $4,000 less than it had two months ago.
Public Enemy is still quite a ways of reaching their $250,000 mark, which would fund the album's manufacturing and marketing plan. However, they've -- by far -- raised the most cash and investors than any other artist using the Sellaband service.
Via the service, the group offers fans a few different options for fans to invest. There's a $25 investment which gets them a CD; a $100 investment, giving the fan their name in the CD booklet and an opportunity to get a second CD at half-price; a $250 investment adds a limited-edition Public Enemy T-shirt to the package; and so on.
Billboard.biz says that Public Enemy's $250,000 goal may be a stretch though. According to the site, of 35 artists setting a goal of $50,000 on the site, one reached $40,000, while others reached around $10,000 to $20,000.
At press time, it was unclear what the popular 80s and 90s hip-hop group planned to do if they were unable to reach their goal.
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