Public Enemy lower expectations for fan-funded album

Rap group now looking to raise $75,000 rather than $250,000

Public Enemy lower expectations for fan-funded album
Public Enemy have revealed they are lowering the amount of money they are trying to raise to fund their next album from $250,000 (£162,000) to $75,000 (£48,600).

As previously reported, the rap group signed a deal with fan investment site Sellaband to raise the money and while initial investment was good, they raised just over $70,000 by the end of 2009.

Meanwhile, Sellaband filed for bankruptcy back in February. The company changed hands to owners based in Germany and this left the future of the Public Enemy project seemingly in the balance.

"We have learned that the fan-funding model is still not fully developed," Sellaband said in a statement. "As a result, a $250,000 fund-raising effort, while possible, will take too long to accomplish."

They added: "We also have reached the conclusion that we will no longer include expenses for sales and marketing in our fund-raising budget and goals. So far, Chuck D and cohorts have raised exactly $55,700 (£36,117), that's 74 per cent of their goal."

Read More On This Artist

Public Enemy Merchandise
More News
Björk to publish 'Archives' book featuring contributions from Chris Cunningham and...
Wu-Tang Clan perform 'Ruckus In B Minor' on 'Letterman' – watch
The War On Drugs add extra dates to 2015 UK tour
Foo Fighters announce Slane Castle gig for May 2015
Midweek Chart Update: Take That challenge Band Aid 30 for UK Number One
Mac DeMarco says recording third album 'Salad Days' stopped him 'being a little...
The Pop Group to release new, Paul Epworth-produced album – hear first song now
Chance The Rapper shares new song 'Sunday Candy' – listen
Death metal band Abhorrent Decimation to perform in sealed box until the air runs out
Sinead O'Connor says Band Aid 30 critics should 'shut the fuck up'
Ed Sheeran announces second Wembley Stadium gig
Morrissey forced to abandon encore at German gig following stage invasion – watch
Wolf Alice announce Spring 2015 tour
James Blake to release new single '200 Press' and poem - listen
AC/DC's Phil Rudd makes bizarre court appearance in New Zealand
Rihanna denies reported album announcement details
Jimmy Page cites performing with Leona Lewis as his greatest achievement outside of Led Zeppelin
St Vincent's 'St Vincent' named NME's Album Of The Year 2014
Killer Mike rails against Ferguson verdict in emotive pre-gig speech - watch
Pulled Apart By Horses share cover of Slade's 'Merry Christmas Everyone' - listen
Seasick Steve announces new album 'Sonic Soul Surfer' and UK tour
Metallica to headline Reading and Leeds 2015, Jamie T and Run The Jewels also on the bill

More News

Comments

Please login to add your comment.

Latest Tickets - Booking Now
 
Know Your NME
 

 
NME Store & Framed Prints
Inside NME.COM