Music label uses Facebook and Twitter to find and fund new artists

SonicAngel has enjoyed three number one hits in Belgium in the last year and is currently funding 20 new artists.

The label scans social media platforms for the most talked-about artists before hand-picking a shortlist, which fans can then choose to fund.

Bart Becks, who co-founded SonicAngel, told Reuters: ""If you look at how music is getting distributed nowadays, it's a lot of people talking about their favorite bands on Twitter and Facebook, so we turned the model around."

"The most important difference with SonicAngel is that we choose the artists and don't allow every artist on the platform," said co-founder Maurice Engelen.

The label also has a separate website where musicians can upload tracks for people to support. The company then tracks the buzz around each artist before giving people the chance to invest.

People can buy a share in an artist or band for 10 euros each, with pay-outs promised as soon as they start to make money.

SonicAngel is now working with the University of Ghent and the Massachusetts Institute of Technology on a new project which could scan the entire web for the top-trending bands.

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Joe is the Content Director for What Hi-Fi? and Future’s Product Testing, having previously been the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across the print magazine and website for almost 20 years, writing news, reviews and features on everything from turntables to TVs, headphones to hi-fi separates. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung; reported from CES, the Bristol Show, and Munich High End for many years; and written for sites such as the BBC, Stuff and The Guardian. In his spare time, he enjoys expanding his vinyl collection and cycling (not at the same time).