On a twist on Kickstarter and other crowdfunding sites, RockmaniaLive plans to raise truly significant funding from potential customers and provide them with exciting perks as an incentive. This plan is mentioned as part of the article Orchestras to Take Up Rock’s Classics in today’s Wall Street Journal.
Jimmy Page and Robert Plant haven’t performed together since a rare Led Zeppelin show in 2007. But starting Friday, fans can invest in a company that plans to stage hundreds of live performances of their music around the world over the next five years.
Mr. Konowitch is planning to sell to the public $1 million of shares in the $10 million company. Those investors—who he hopes will help him promote the shows by hosting parties and inviting their friends—will get perks such as free admission and private dressing rooms when they buy in, at a minimum investment of $1,000.
Rather than conducting a traditional initial public offering, RockmaniaLive is taking advantage of rules adopted last year by the Securities and Exchange Commission allowing companies to sell securities through crowdfunding. Musicians who have crowdfunded on platforms such as Kickstarter have typically raised amounts of less than $100,000.
If raising a million dollars from potential customers works for RockManiLive it could well open the door to a whole new funding alternative to angel investors, angel groups and even early stage VC firms.
Mentorphile 