Is Crowd-Funding the Next Revenue Maker for the Music Business?
The Mothly Fool – Buried in crowd-funding web site Indiegogo this month is an unusual proposal for those wishing to get in on the occasionally lucrative music business.
Start-up Gideen wants you to contribute to its website development costs via Indiegogo, and in return Gideen will let you choose a song from its pre-launch song database, and give you a third of the future music income of that chosen song for five years.
Your cost is $25 to make the Indiegogo pledge.
Twenty-five bucks for a third of a Madonna song? Madonna reportedly made $125 million in 2013.
Not quite. The database that Gideen wants to build is of undiscovered, developing-level songs, not established music by known-quantity artists. Madonna and her established ilk will be nowhere to be found.