The intention
Radical innovation in the music industry: 'believers' could for a minimum of 10 contribute euros towards the CD recordings of a artist and thus became a 'shareholder' of the product.
The approach
An internet platform was developed on which bands could present themselves to the public. The people could then (small) contribute to allow a CD to be produced. 'Investors' received a CD and part of the proceeds.
Bands from all over the world signed up, a number of them raised enough money for a trip to the studio. In the Netherlands, former Eurovision participant Hind was the best-known artist who could finance such a CD recording.
The result
End 2010 it was announced that Sellaband has gone bankrupt. Too bad for the founders of whom there was already a way and another is now leaving. Too bad for venture capitalist Prime Technology Ventures, the 2.6 million euros to write off. The curator has sold the company to a German music producer.
Even if the company went bankrupt, yet there is talk of exporting a creative idea.
Sellaband received international attention for his revolutionary idea that rocked the music industry.
The lessons
Does the crisis also kill the Dutch creative industry, of which policymakers have such high expectations as a new engine of the economy? How do we build innovative companies and keep them?? Is there perhaps too much hype in an early phase of this type of company? Have we just not learned enough from the internet bubble experience?
In addition, it turned out afterwards that the quality standards were far too low. There was no filter on it. So any girl who looks good but sings poorly, managed to raise money for a CD. Most potential shareholders are men above the age of 40.
Further:
The founder of Sellaband has developed a new initiative based on his experiences. He founded AfricaUnisgned.com, an African music site that works much the same as Sellaband, but only with digital music.
Author: Paul iske
OTHER BRILLIANT FAILURES
The Olympic 10.000 meters from Sven Kramer in Vancouver (2010)
The intention to achieve Gold at the Olympics 10.000 meter in Vancouver. The approach Kemkers and Kramer worked together on a thorough preparation based on: 6 years of intensive collaboration and resulted in countless [...]
McCain for president
The Intention Old John McCain wanted to be elected US President through the seductive impact of an attractive, young, popular, deep believer, thoroughly republican woman on conservative American TV viewers [...]
Video 2000 vs VHS
The Intention Video 2000 was a video standard developed by Philips and Grundig, as a standard competing with VHS and Betamax. Video 2000 trumped both formats on quality and duration. The approach [...]
