Public Enemy wants to make a new record and they are looking at a new form of financial backer to get it off the ground...their fans. That's right, the fans. That's what the music industry has come to...panhandling. And I'm not saying don't give money or its wrong that they are asking. Public Enemy is the shit and there's no shame in fans supporting the bands they love. What I'm talking about is the music industry being in such a way right now, that bands are looking to the fans for funding rather than the labels. That's crazy. And maybe exciting. The world is upside down, dogs and cats are playing together, mass hysteria.
Here's a little more on the subject (without commentary) from FACT:
Of course, this will be a two-way street: the fans will take a share of the revenue from the record (though the specific figures are yet to be revealed). Fans that contribute money will also get a numbered copy of the album.
The group are working with SellaBand to raise $250,000 in individual donations of $25. Says Chuck D of the whole affair, "SellaBand's financial engine model goes about restructuring the music business in reverse. It starts with fans first, then the artists create from there. The music business is built on searching for fans and this is a brand new way for acts to coming to create a new album with fans first, already on board."
Public Enemy are the first established act to take advantage of SellaBand's business model. As far as details of the album goes, that's all yet to be announced.