[1][2][3][4][5][6] It also operates as a record label and business model for artists[7][8] which enables them to fund their projects by allowing the general public to directly finance, watch the creative process, and in most cases gain access to extra material from an artist.

[9] According to Bloomberg News, the company's chief executive officer, record producer Brian Camelio, founded ArtistShare in 2000 with the idea that fans would finance production costs for albums sold only on the Internet and Artists also would enjoy much more favourable contract terms.

[11] A United States–based company, ArtistShare (2001) is documented as being the first crowdfunding website [3] followed later by sites such as Sellaband (2006), SliceThePie (2007), IndieGoGo (2008), Spot.us (2008), Pledge Music (2009), and Kickstarter (2009).

[12] In 2005, American composer Maria Schneider's Concert in the Garden became the first album in Grammy history to win an award without being available in retail stores.

[16] On September 30, 2011, Kickstarter filed a declaratory judgment suit against ArtistShare[23][24] and Fan Funded which owns U.S. patent US 7885887 , "Methods and apparatuses for financing and marketing a creative work".