“Fanvestors” will officially be earning some royalties from their investment in French artist Georgia Jane’s music crowdfunding campaign listed on Your Music Company (YMC). Those who backed Georgia Jane will collectively receive 5% of their total investment in the form of a check or an account credit on YMC’s website.
Primed to turn the music industry and U.S. based crowdfunding upside down with their unique approach, YMC is the first state-licensed music platform to employ the crowdsourcing model and allow fans an opportunity like no other — to support their favorite independent musicians on YMC’s website and profit-share in the sale of the artists’ online music downloads rather than receive prize incentives, as most fundraising sites generally operate. Though this business model is still in its infancy in the U.S., a similar site exists in Europe and has helped fund the careers of successful artists overseas.
Co-founder of YMC, Christel Gidouin stated, “We are excited to share this success with Georgia’s fanvestors. Their continued support is vital to the success of this platform and we look forward to launching the careers of talented musicians in America.”
Independent pop songstress Georgia Jane is the company’s first major success, with her campaign reaching its intended goal of $100,000. From her initial funding, Georgia was able to record her debut single, “Do The Same For Me,” and will use the remaining funds to produce her full-length album. Thanks to Georgia’s fanvestors, her single placed #93 on Mediabase’s Top 40 Pop chart and reached #5 on their Top 40 Pop Independent Label/Artist chart. Additionally, her single hit #40 on the BDS Top 40 Indicator Chart.
Fanvestors, or fan investors, collectively split 25% of all net profits from album and single sales. Using social media as the basis for promotion, fanvestors have the opportunity to support and share the music they like and receive royalties, while the artist raises the funds they estimate to record an album. If the campaign goal is not reached, fanvestors receive their initial investment back.
In 2011, renowned French singer/songwriter Yael Benamour teamed up with COO Christel Gidouin to bring their updated platform to the American market, selling off all of their possessions and moving to Los Angeles before receiving approval of their U.S. visas. Armed only with a business plan and their plane tickets, the two female entrepreneurs raised $1.2m in seed funding and opened an office in Century City, where they maintain their hands-on approach to developing the careers of each of YMC’s successfully funded artists.
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