Slicethepie act Scars on 45 has signed a multi-album deal with Atlantic Records, becoming one of the first fan-funded artists to graduate to a major label in this way. The deal triggered a buy-out clause in the band’s Slicethepie contract, with their fan shareholders offered a 50% premium to the market price. “This is significant progress for Slicethepie and demonstrates the potential power of a democratic, fan driven online process to source talent,” says Paul Brown, who besides being Spotify’s UK boss is also a non-executive director of Slicethepie. Elsewhere in the fan-funded sector, there’s poaching afoot. Japanese band Electric Eel Shock raised @50,000 to make their last album via SellaBand, but have now signed a new deal with rival Pledge Music, which will involve offering exclusive CDs, DVDs and merchandise to their fans. Source: Billboard Source: Pledge Music Press Release

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