MyMajorCompany Gets $4.1 Million For Fan Funded Releases
MyMajorCompany, which like Sellaband and others empowers fans to finance recordings for artists they like, has received a $4.1 million investment from Stephane Courbit, a former Endemol France executive in return for a 49% stake in the company. The funds will be used to expand the French based service into the UK. Former EMI CEP Alain Levy is also advisor to the company.
MyMajorCompany fans have already funded a single from Gregoire, whose album went on to sell 240,000 copies. Next up is a release from Agonie financed by $95,400 from fans..
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I have been involved with some of the most successful and influential musicians in the history of recorded music. Led Zeppelin, Bad Company, Kentucky HeadHunters, Danny Gatton et al. I consider myself incredibly fortunate to have had the opportunity to work with these fine folks in a wide variety of commercial arenas. The one constant throughout has been the ravenous reaction and support of their fans. The fact that fans can now participate in the creation, marketing and sale and potential profits of their favorite bands is the leading edge of the future of the music business. These people have the right point of view going into the business arrangement…they like the music. They believe enough in the integrity of the musicians that they are willing to put their own hard-earned money into a process that will share their love with others and make a few bucks in doing so. They will go the extra mile because they truly connect with what the musician is saying. I only hope that the bands will have someone to guide them along the path of creation, production, distribution, publicity, marketing and selling. It would be a waste of everyone’s time and money to just give the money away to no end. HAVE A PLAN!! LEARN HOW TO MAKE BEST USE OF AVAILABLE FUNDS IN A REALISTIC MANNER TO OFFER A RETURN TO YOUR “INVESTORS.” If you do, you will have a sustainable career. That’s what it’s all about. The second record and beyond.