Atlantic Asks Fans to Fund EP Via Pledge Music

As the record industry falters, more and more bands are turning to websites such as Pledge Music as an alternative means to fund the recording of an album. Gang of Four is one notable group to have experimented with donation-based funding recently. Now, it seems the record labels themselves are catching on, and Atlantic has become one of the first of the industry giants to experiment with the model, which asks fans to donate money in exchange for incentives from the artist. They’re asking fans to help pay for the new EP from trip-hop artist Natty, and while the rewards for donating are nowhere near as bizzare as GoF’s vials of blood, they’re hoping to drum up enough financial support to bankroll the album with perks like Skype access to a rehearsal and signed copies of the finished EP.

Thirty-two percent funded with 124 pledges and 50 days left in the drive at the time of this writing, Natty has already sold out of his hand-written lyric sheets rolled into a rum bottle (£165, $100 USD) and signed harmonicas (£200, $307 USD). It seems the venture may be on track to meet its funding goal, which is good news for Atlantic in the short term. But with artists able to create their own accounts on any number of fund-raising websites, major labels seem less relevant now than ever before. If a label like Atlantic has to beg its customers for what basically amounts to purchasing a record before it even exists, are they doing any good for the artists they represent and the fans that love them?

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