There is a sea of untapped talent out there without the funding to even attempt to make it big, but now a new website is here to help catapult them to fame.
Just as films such as Veronica Mars and Wish I Was Here were funded via Kickstarter, YMC (Your Music Company) is shaking up the music industry through crowd funding.
However, rather than getting prize incentives — like Zach Braff reading at your wedding or recording a voicemail greeting — fans who donate are paid actual royalties based upon the artist’s iTunes sales. If you help discover the next Justin Timberlake or Katy Perry, that could add up to big money!
The company is still in its infancy, but already has "fanvestors" in over 70 countries who promote their artists through social media and then get 25 percent of net profits based upon the percentage of their ownership. Just like with Kickstarter, if the goal isn’t reached then they get their money back.
The innovative tech app already has a hit on their hands, after artist Georgia Jane reached her funding goal of $100,000 and now has a single on iTunes that entered Mediabase’s Top 40 Pop Chart at #191, and is #75 in the BDS Top 40 Pop Indicator.
The singer/songwriter from France who is based in Southern California has earned her fanvestors a first round of checks totaling $10,000 so far.
Georgia Jane had actually been an investor herself in a similar business model in Europe, so when she met with the YMC founders she jumped right on board as she knew that it worked for both the fans and the artists, a representative for the company told Popdust.
She is now working on her debut album with Jamie Jones and Jack Kugell, as she strives to push musical genres and include influences from her favorite artists including Bob Marley, Aaliyah, Timbaland, Maxwell, Emeli Sande and Nneka.
Check out behind the scenes footage from her new video for Do The Same For Me below.