Bebo today announced a groundbreaking partnership with Slicethepie, a financing platform for recording artists. The new service will enable Bebo's community to take on the A&R (artists and repertory) role, earning money by reviewing tracks, spotting new talent and ensuring the best Artists get put forward for financing.
Bebo music fans can then directly invest in the Artists in return for Artist access, a copy of the completed album, their name on the album sleeve and a share in the financial returns from album and single sales.
The partnership between Bebo and Slicethepie democratizes music artist financing by taking a complex process that is often controlled by a small number of people and making it accessible to a larger number of music artists and a larger number of music lovers.
The partnership also boosts Bebo's ability to deliver a compelling social discovery experience for its users based on who they are, what they like, what their friends like and what people like them like.
David Courtier-Dutton, Slicethepie CEO, said "This unique partnership combines the passion and power of Bebo's massive fan and artist community with Slicethepie's proven filtering and financing platform to help artists get discovered in a faster and more equitable way than ever before. The combination of Slicethepie's proven financing model with Bebo's engaged community of music lovers gives these undiscovered artists a viable career path with unprecedented promotion and exposure on one of the most powerful social platforms in the world."
Hal Stokes, Bebo's Global Head of Music, explained: "Bebo is all about letting people connect with everyone and everything they care about. The relationship between music fans and artists has always been a close, emotional one.
Now, for the first time, fans can actually help break an act, help them record their first single and help them get discovered. With Slicethepie we can unearth the best 'undiscovered' talent on Bebo and fast track them to a sustainable career in music while strengthening their bond with their fans."
Bebo users who participate in the review and rating process will be paid a small fee for every review left. The better they are at reviewing, the more they will be paid per review and the more influence they will have in advancing the career of the artist they are reviewing. Financed artists will retain the rights to their music and the majority of revenues from music sales.
It is anticipated that up to one artist a month will be financed as a result of the partnership. On top of the 15,000 raised from music fans to record an album, Bebo will provide every financed artist with a valuable promotional package to give them a genuine opportunity to launch their music.
In addition these artists will benefit from a 'street team' of hundreds of dedicated fans who have provided the finance, and can be mobilised to further promote their artist across the Bebo community and the wider web. The partnership is due to launch in March 2009.
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