Fan-Financed Music Site Slicethepie Lands $2 Million

Slicethepie, a music discovery site where fans can invest in the recording of albums by their favorite artists, announced on Monday that it has raised $2 million in its third round of venture capital financing. Investors included Microsoft UK director Mark Taylor, Mears Group chairman and CEO Bob Holt, and Gavin Breeze, founder of Datacash. (Digital Media Wire)

Put Your Money Where Your Indie Rock Is

With CD sales declining and labels whining, it might seem crazy to view recorded music as fertile ground for investment. But for thousands of fans-turned-music-investors on SellaBand and Slicethepie, it makes perfect sense to gamble on a favorite band's future. (Wired)

SliceThePie Claims Will Finance More New UK Acts Than Major Labels In '08

Slicethepie.com, a website that enables fans to run their own record label, estimates that over 30 unsigned artists will secure financing from fans and investors on the site in 2008. They claim that's more UK artists than EMI, Sony BMG or Warner Music achieved last year. In the past six months, Slicethepie's music fans and investors have financed nine artists. Gilkicker, The Alps, The Skies and Miranda Barber are just some of the artists to share in the £150,000 raised so far by Slicethepie's music fans and investors. (Hypebot)