LONDON (Hypebot) –
UK act Scars On 45 had used fan funding platform Slicethepie to raise the money to record and release a record. That recording and the resulting promotion caught the attention of Atlantic Records/Chop Shop Records who have now signed the band.
Of course getting signed does not mean that Scars On 45 is going to be a hit, but it does validate Slicethepie's fan funding as a method for moving a project forward and getting noticed by the broader music industry. The Atlantic deal was brokered by music supervisor Alex Patsava and triggered a buyout clause and fan who invested were bought out at a 50% premium.
"This is significant progress for Slicethepie and demonstrates the potential power of a democratic, fan driven online process to source talent," says Paul Brown of the fan funding site. "This deal reinforces the value that Slicethepie and its sister business SoundOut can add to the business of finding and financing talent."
"We are delighted for both the band and their fans who, in this case, have truly been instrumental in their success," added David Courtier-Dutton, Slicethepie CEO, "We believe that consumer driven filtering has an increasingly influential role to play in the future of the industry enabling talented artists to access an ever widening range of commercial opportunities."