April 14, 2010 05:56:29 GMT
The hip-hop group may not get the $250,000 they want but consider $75,000 more will be enough to spawn a new album.
Rap legends Public Enemy have relaunched their campaign to release an album funded entirely by fan donations, just four months after their last attempt failed. The hip-hop group, fronted by Chuck D and Flavor Flav, announced plans to turn devotees into investors last September after teaming up with specialist website SellaBand - an online fan-funding engine, which gives supporters the chance to help finance their idols' projects in exchange for albums, meet-and-greets and even a cut of the profits.
Public Enemy's appeal started strong, pulling in $50,000 within a month from fans donating a minimum of $25 each - but the cashflow stalled in December, totaling just over $67,000 - well short of the band's goal of $250,000. The group subsequently abandoned the album plans - but they've decided to give the initiative another shot, and have set their new target at $75,000.
A statement from Public Enemy reads, "We have learned that the fan-funding model is still not fully developed and, as a result, a $250,000 fund-raising effort, while possible, will take too long to accomplish... As a result of our SellaBand experience and all that we have learned, we now believe that a $75,000 fund raising target will fulfil the needs for a new recording project and is much more appropriate for the strength of the existing SellaBand model and the current economic climate."
And the band's new approach is already paying off - they've raised $56,325 since relaunching their campaign on Monday, April 12. Public Enemy have not released a new album of material since 2007's "How You Sell Soul to a Soulless People Who Sold Their Soul?".