Last year, Public Enemy started using Sellaband.com to raise the necessary funds for a future album. Everything was going relatively okay, until Sellaband went broker than a no-handed guitar player in February. Suddenly, any plans for a future album went out the window, and to make matters worse, it turned out that PE had only received $71,000 in pledges towards their $250,000 goal.
Early this week, however, we got some encouraging news about a future Public Enemy album. According to a statement through Sellaband: “We have learned that the fan-funding model is still not fully developed and, as a result, a $250,000 fund-raising effort, while possible, will take too long to accomplish.” Consequently, the group has decided on a much more achievable goal of $75,000 and 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.”
As of this writing, Ronald Reagan’s favorite hip-hop group have officially raised $56,450 and counting.
• Public Enemy: http://www.publicenemy.com
• Sellaband: http://www.sellaband.com/projects/publicenemy
