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IDEA #38 – Invest in a Music Band! Fantasy Music Stock Game

Last.fm ChartsLast.fm tracks how many times songs are listened to daily by users of the service. Every time I play a song on my computer, info on the song is sent to the Last.fm servers and tracked in my account — as well as aggregated with everyone else listening. They have charts that show which songs increased the most in listenership for the week — they also simply track every artist and how many listens occurred of that artist.

For many years I’ve wished I could have bought stock in some artists/bands, because I knew they had some great music that was going to take-off. This type of system could happen now — some sort of fantasy league or fantasy stock market where you invest in bands. Each week, the listening data is analyzed/used from Last.fm and points are calculated that way.

Have you any thoughts on how this would work regarding points?

  • http://techstbooks.wordpress.com Colin Dowling

    I actually think a marketplace where artists – it would work best with music/bands – sell stock in themselves is a n idea that would quickly be embraced.

    I have been in bands for a fair part of my life and know that there is a a lot of hard work that goes in to doing anything more then practicing in the garage. Cutting a CD, going on a tour, creating press kits, etc. I can definitely see a place for a band to say, “We are trying to raise $5k to produce a CD and $2k to support it on tour…let’s IPO our band!”

    The “risk” involved is making sure that the band is using if for promotion of the company (the band) instead of beer and cigarettes. However, that would likely have a lot to do with the research done on the band itself.

    Great idea, one of my favorite you’ve posted yet.

  • http://www.adamostrow.com Adam Ostrow

    Check out Fantasy Music League. It was created by radio host David Lawrence a couple years ago.

  • http://www.thedeplorableword.net/ Tom

    I think I’ve seen this somewhere, I remember that if they went big you got a cut of the CD sales.

  • http://lowbudgetstartup.com Andrew Cronk

    I believe you have just described http://www.sellaband.com

    Also, with amiestreet.com you can recommend artists and earn money if they become popular.

  • Alex B

    Why not borrow the money? If you are really that great of a band, an IPO would cause you to give up a share of your future profits, as you will not own a part of your own band. If you issue debt (bond), you should be in a much better shape. David Bowie has done it in the 1990s http://en.wikipedia.org/wiki/Bowie_Bonds
    I imagine this being a hard sell though.

  • Kevin

    This is a fun idea, MTV.com did something similar about 3 years back and I had a blast with it! They gave out points based on billboard chart position, appearance in the weekly top 10, etc… It was a great implementation, not sure if they’re still doing it or not but would be very cool to see an implementation specificially for unsigned indie bands.

  • kurt

    Done. Invest in bands to develop an album.

    http://www.bandstocks.com/

  • http://twitter.com/ajaxjones ajax jones ✔

    LOL, been working on and off on ideas around this for 7 yrs now. guess I should try something. Managed to work out a real nice points system as well linking into the charts. Well iTune charts now, but last.fm and others probably more relevant.

  • James Vassie

    Have you had any progress on this at all ajax jones?

  • http://twitter.com/NoodlesForRick ɥɔıǝɹ ʞɔıɹ

    i would love to be part of something like this, sir. i am an experianced Ruby programmer with a soft spot for nosql and html5/css3 features. – Rick

  • http://twitter.com/ajaxjones ajax jones

    hey, sorry seen this just now ! Well nothing hard and fast. But the idea was to choose a band based on singers, guitarist, bass, and drummer who all feature in other bands. Points then based on iTunes downloads and scandal factors if they should hit the press with a good paparazzi score.

  • sanguina

    This is one of my favorite ideas as well as Dear Abby for Techies

    Too bad people can’t vote up ideas on your site :(

  • loukik joshi

    Hi ajax it sounds a pretty interesting idea. Have you had any progress on it