Summary:

Fan-funding music community Slicethepie has stayed low on most radars since launching in 2007, but it’s now set to take the idea to a much l…

imageFan-funding music community Slicethepie has stayed low on most radars since launching in 2007, but it’s now set to take the idea to a much larger audience through a partnership with Bebo. The social network is hooking up with Sicethepie to introduce fan funding to its music area. It’s the first in a number of cooperative deals the music site is hoping to seal this year.

Bebo users will get to “invest” in any budding artists, like Kendall Todd (pictured), that have both Bebo and Slicethepie profiles, from as little as £1. As per Slicethepie’s core model, artists will get get a pay-out when contributions hit £15,000, to be used to record their album. Investors will get updates from the band, a copy of the finished album, their name in liner notes and a share in future album and single sales.

– Bebo users, acting as Slicethepie scouts, will also get to review and rate tracks submitted by artists on the site, and will be paid a small fee for each review. The best reviews will earn higher pay-outs and more influence over budding artists’ success.

The pair expect to make £15,000 handouts to one act each month. While much of this “co-branding” deal merely leverages Slicethepie’s platform, taking place on a Bebo “scout room” on the site, Bebo says it’s also stumping up a £50,000 package to the winning acts – including homepage promotion, appearances in its daily and weekly video shows, representation to music label A&R execs and a Bebo-sponsored album launch event. It’s a chance for Bebo to discover some new talent from within its ranks that would then be promoted back to its user base.

Slicethepie’s emailed announcement says: “We remain the same old independent Slicethepie, except now with a massive marketing and social networking engine.”

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