Would you invest your own money into your favorite artist’s music? Columnist Tim Ingham on why a fan-fueled “equity crowdfunding” model may be ready to explode
. Corite believes these conditions will become one of the biggest selling points to artists for the equity-crowdfunding model in the years ahead.
If that sounds a little pie in the sky, consider this: The most popular music artist on Instagram today is Ariana Grande, who boasts around 162 million followers on the service. If she could convince just one percent of these fans to invest $10 each into her new music, it would net her $16.2 million – a figure that blows most major-label advance checks out of the water.
As for how Corite itself gets paid, it collects five percent of the funding fee provided to an artist, and then another five percent of the royalties that are paid by streaming services.
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