Buy a share of Public Enemy's latest album

Forget the record companies, use your fan base to fund your next record.

That is exactly what bands can do through SellaBand, they allow bands to raise funds from their fans to invest in their next record.

Fans in return get a chunk of the profits and extra goodies.

I heard about this quite some time ago. It's neat play, especially for indie or underground bands who aren't going to get mainstream support for some time.

However with this move by Public Enemy the game has completely changed now.

Getting big time bands to share the profits with their fan base? This may just be the start.

So what do you get?

Well for US$25 you can buy a part (or share) of the album; you can buy as many as you want. In fact the more you buy the more you get (as they have bonuses).

Invest $1000 and get a free backstage pass to every show they do for the next 3 years. Invest $5000 and get an executive producer mention.

$10,000 gets you all the incentives plus a studio visit with the band.

What better way for a loyal fan to not only support them but engage?

However you can just invest the minimum and still get a copy of the cd and/or an album download. That's more than enough for their current fan base.

Heck, even people that aren't fans might invest and become fans.

This concept is one of the best strategic business, marketing and engagement (all wrapped into one) moves I have seen in a while. Good on you Public Enemy. If you'd like to partake visit here and have a look. Also make sure youcheck out any of the 62 kiwi bands on there.

* Ben Young of bwagy.com is the author of The Best Ideas are Free.