Slicethepie, a music community where members’ investments finance upcoming bands, will on Monday release its first album funded in this way. The Alps raised £21,000 after 15,000 online fans contributed £1.50 for a “share in the band”. Now their album Something I Might Regret will be released via digital distributor Tunecore on to retail platforms like iTunes Store, Rhapsody and Napster.

SEE ALSO: Budding Bands Get £150,000 Investment - From Online Fans

Despite being founding members of the site, which started in June ‘07, The Alps are not the best advert for its promised USP - that fan ownership and financing can help push artists in to the spotlight - because the rock band already had a considerable following built up through touring and radio play. Slicethepie says it has now financed 12 artists with a total £200,000. The Alps are releasing their collection on CD via their own Elusive Music label, however.