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Public Enemy Far From Reaching Goal In Plan To Fund Album By Fan Investors
By Miles Bennett ♦ Published 02/22/2010

Public EnemyIn 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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  • http://ballerstatus sexysabs

    Y? Couldn't they afford to do it themselves? Anyone who invests in sellaband is stupid... unless the artist is sh*t hot, you aint never gonna make no money!
    Besides, 3 months to reach 250k aint long enough! This way they get to walk away from this, without forfeiting anything.

  • Frank Rizzo

    Sounds like a great idea. Let's give money to some morons who can manage their money. I hope they get foreclosed on and end up stocking shelves at Walmart.

  • @skullgizzy

    All i gotta say is Yeahhhhhhhhhhhhhhhhhhhhhhhhhhhh boyyyyyyyyyyyyyyyyyyyyy!!! Lmao flav still baggin shortys no matter what!

  • http://www.arafat.com KNOWGOOD ARAFAT

    LMAO!!! THIS IS WHERE RAS KAS GOT HIS HAIRBRAINED SCHEME FROM HUH?

  • Kush

    afford to do this themselves? FF owes massive child support, so I doubt it.

  • mercedes1010

    Flavor flav set P.E back 400 years! Chuck should kick his coon monkey ass out the group. Black ugly crackhead roach! You gotta be a nasty stank ho to let flavor kiss you on the mouth! These hoes need some self respect.

  • gaetarick

    WTF!!! LOL!!! WTF!!! LOL!!! WTF!!! LOL!!! WTF!!! LOL!!! WTF!!! LOL!!! WTF!!! LOL!!!

  • joeblow

    I dont get it. This should be for up and coming artist who have put out a good record independently and need an extra push. Not artist who have been major already. Hell, some of the old def jam heads should fund it!!!

  • Dretruth

    $71k is enough but when you get to a certain level of artistry I guess that ain't enough to them. Night at the terrordome.

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