According to Bloomberg News, the company's chief executive officer, Brian Camelio, founded ArtistShare in 2000 with the idea that fans would finance production costs for albums sold only on the Internet and Artists also would enjoy much more favourable contract terms. It also operates as a record label and business model for artists which enables them to fund their projects by allowing the general public to directly finance, watch the creative process, and in most cases gain access to extra material from an artist. Required for participation in artist projectsĪrtistShare is the internet's first commercial crowdfunding website.
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