Micro Financing for Recording Artists

Jeff Cornwall, of the Entrepreneurial Mind, has a great post on a new idea that is being developed for the music industry. Micro-financing for musicians.

Similar to the micro lending site, Kiva, fans, friends, family, or anyone else for that matter, would have the opportunity to help finance an artists new recording.

This is similar to another idea I've seen.

And maybe you heard about Jill Sobule. She has raised more than $80 grand from 552 fans to record, manufacture, distribute and market her next album. In just 53 days she reached her goal of $75,000. Part of her offer was to give people different payoffs depending on how much you invested. $10 gets a download, $10,000 and you get into the recording studio.

Wow. I'll make that offer. I just need $2,000.