My Major Company: the future of record labels ?

Crowdfunding is huge and probably the latest trend in the music business.  We have had Slicethepie and Sellaband but My Major Company seem to up the bar.
Describing themselves as a proper fully staffed record companies, they have had one act raise £100,000 in a week and another, Some Velvet Morning have raised a third of this in a week.
Seems to bridge the gap between DIY record labels and a traditional label. You can join the site as an investor but not as an artist which sets it apart from Sellaband for example, where you can join as an artist. I think it is interesting and it does give members of the public a more robust platform making their investment less of a risk. Only time will tell if it will catch on.

Watch their manifesto below: