– Veteran hip-hop group Public Enemy has reduced the amount of funding it hopes
to raise from fans to finance the recording and release of a new studio recording,
Music Ally reports.
When launching the project six months ago, the group had
initially hoped to raise $250,000, but will now shoot for $75,000 — and no
longer include expenses for sales and marketing in its fundraising goal.
now firmly believe that it is time to rethink and restructure our fund raising
efforts here, as well as our goals and pursuits," the group said in a post
"We have learned that the fan funding model is still not
fully developed and, as a result, a $250,000 fund raising effort, while
possible, will take too long to accomplish."
Public Enemy now believes
that $75,000 "is much more appropriate for the strength of the existing
SellaBand model and the current economic climate."
The group has currently
raised about 74% of its new fundraising goal.