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 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.”