Los Angeles – SongVest, a site that holds auctions for song
rights and other music memorabilia, has now launched its own fan-financed
recordings service, Hypebot reports. The first artist to utilize the service is
Reggie, of Midnight Star and the Calloway Brothers, who is raising up to
$100,000 to market and promote his new album. Among items being offered in the
auction is a 20% share of the 80% net income from the album.