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