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Public Enemy has raised more than $50,000 in funding from over 700 fans to finance the recording of their next studio album. The announcement comes after signing with fan-financed recording site SellaBand.

As previously reported, P.E. is leading a new revolution in the music business once again when they announced a partnership with SellaBand.com to finance the recording of their next album through fan funding.

The venture brought together two leading forces in independent music to take a powerful step into the future by offering artists control over their own music and giving them the ability to record without artistic or commercial constraints of traditional record companies.

Public Enemy wants to raise at least $250,000 from fans, who’ll receive exclusive content and other incentives in return for their support.

The funds will be used for recording costs and expenses, as well as to fund a strategic marketing plan to release the album via SellaBand in 2010.

SellaBand CEO Johan Vosmeijer, stated,

“Two weeks after their arrival, Public Enemy has become the first band in the history of SellaBand to go beyond $50,000. Once again Chuck D is leading the way and showing fellow artists of all levels that fan funding is a viable choice.”

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