Recording artist Patrick Wolf recently hit his intended target of raising £100,000 from investors and fans to record a new album through Bandstocks.com
Bandstocks is an organisation that facilitates investment, aimed at raising funds for specific individual album projects and allowing artists a greater degree of creative control.
Investors are enabled to make direct investments in an artist’s album and in return for their investment acquire the legal rights of what is termed as a ‘Bandstockholder’. These rights include the right to receive credits and other privileges as well as a share of the financial rewards if the album is successful.
After parting company with Universal Music subsidiary Loog following the release of his previous album in 2007, Wolf announced his plan to sell £10 shares of his next album through Bandstocks, stating that fans could invest in the production of the record, effectively serving the function of a record company. Wolf then formed his own label, Bloody Chamber Music to release the LP.
With the initial ‘advance’ target now matched, all investors stand to make 50% of all profit from the LP, released on June 1st and entitled The Bachelor. It is the first part of a double album project with follow-up The Conqueror scheduled for release next year, indicating that this is a long term strategy for Wolf.
In a recent interview with BBC 6Music Patrick Wolf said: “I almost feel like this album is a coming of age record. My voice has dropped so much and the subject matter has become more serious and less throwaway”.
Have your say!
What do you think about direct to consumer investment approaches such as Bandstocks? Is this now a viable alternative to record companies for established artists? Of course, the success of such projects is dependent on pre-existing sizable fanbases and profile. Could Patrick Wolf have raised so much if he hadn’t already had so much press and a major label budget and strategy for his previous album?
Website design and development by
Post new comment