Slicethepie, a music community where members’ investments finance upcoming bands, will on Monday release its first album funded in this way. The Alps raised £21,000 after 15,000 online fans contributed £1.50 for a “share in the band”. Now their album Something I Might Regret will be released via digital distributor Tunecore on to retail platforms like iTunes Store, Rhapsody and Napster.
Despite being founding members of the site, which started in June ’07, The Alps are not the best advert for its promised USP – that fan ownership and financing can help push artists in to the spotlight – because the rock band already had a considerable following built up through touring and radio play. Slicethepie says it has now financed 12 artists with a total £200,000. The Alps are releasing their collection on CD via their own Elusive Music label, however.