Queensrÿche, not to be confused with Geoff Tate's version of the band who had to change their name after legal battles handed the rights to the latter, are literally allowing fans to share in their profits as a band by investing in them!
For $50,000 and an independent accreditation process, fans are essentially invested in the group much like a stock and can receive their dividends accordingly. The group hopes to raise $2 million in the effort and according band attorney Marc LoPresti, the investment opportunity will become available sometime very soon.
Drummer for the group Scott Rockenfield says the investment opportunity will give the band “the flexibility to do a lot of things," including big-picture stuff they've got planned and “touring and being able to present ourselves in bigger ways.”
My question is this: would the return on investment even be worth it? The group doesn't specify what percentage of themselves they're selling off in the total $2 million sale, but think about it like this. The group obviously isn't going to sell off more than 50-percent of themselves because that means they lose control, so whatever this total percentage is will be less than half of the group's total earnings. They have to eat and live their lives too, right? So we're at less than half already. $50,000 is 2.5-percent of the whole $2 million, so hypothetically if the group sold off 40-percent of themselves here, you're now the owner of 1-percent of the hypothetical 40-percent of their earnings.
I'm not saying don't do it and I'm not saying the group doesn't earn enough. I have no idea what those numbers look like and it's not worth it for me to look into because I don't have $50,000 to throw at anything right now. It just seems like the investment might not be the best in terms of getting your money back over the long run, but I'd love to be wrong on that front and see them do something totally different within the industry!
[via Billboard]
