SlicethePie.com - Where Fans Play the Music Exec

SlicethePie puts a little twist in the standard music biz model by rewarding fans for their musical insight; fans are paid to scout out and review new talents. The better they are at spotting hot artists—according to the consensus of the community—the more money they’ll earn. Additionally, fans can support their favorite new comers by forking over some of their own cold hard cash and sharing in the profits from sales from the site. According to the site, SlicethePie turns every fan into a record label. Members can listen to the music selection on site and add songs that have the hit factor to their personal watchlists. Later on, if they choose to invest in a band, they can do so at a discount. Backstage Passes, which cost $10, give fans a copy of an album, plus participation in the recording process and rights to buy contracts in the artist at a discount. Contracts are traded like stocks on the SlicethePie marketplace. Unsigned artists/bands can also sign up to raise money and market their songs.

“Slicethepie enables artists to raise money directly from their fans to professionally record and release an album.
How? We turn every music fan into a record label.
On Slicethepie:
o Artists can raise money directly from their fans to professionally record albums
o Fans can become emotionally and financially involved at all levels of the music industry - scouting, breaking, investing in and influencing real artists
o Investors can gamble on, trade in and profit from the success of these artists
o Artists who secure finance pay Slicethepie a small royalty on album sales but keep all their copyright and publishing rights.”

SlicethePie turns the tables on the music biz. Fans get to play music exec and invest and market the bands they love, while artists can find fans and the cash to produce their albums.

Do users have to invest in a band to get money? How much of the earnings do artists keep? How are members paid?