Social networking platform Bebo has partnered with Slicethepie, an online financing platform for recording artists, to offer Bebo users the opportunity to contribute to the success of their favourite artists.

The deal will allow Bebo's community to take part in the A&R process, spotting new talent and earning money by reviewing music for Slicethepie. Fans will also be able to directly invest in artists in return for a personalized copy of the completed album and a share in album and single sales.

Financed artists will retain the rights to their music and the majority of revenues from music sales.

"This unique partnership combines the passion and power of Bebo's massive fan and artist community with Slicethepie's proven filtering and financing platform to help artists get discovered in a faster and more equitable way than ever before," said Slicethepie CEO David Courtier-Dutton in a statement.

"The combination of Slicethepie's proven financing model with Bebo's engaged community of music lovers gives these undiscovered artists a viable career path with unprecedented promotion and exposure on one of the most powerful social platforms in the world."

Bebo's global head of music Hal Stokes added: "The relationship between music fans and artists has always been a close, emotional one. With Slicethepie we can unearth the best 'undiscovered' talent on Bebo and fast-track them to a sustainable career in music while strengthening their bond with their fans."

Bebo anticipates the partnership will finance up to one artist a month. Once an act has raised £15,000 ($21,000), Bebo will also provide a promotional package to help in the launch of its product. The total amount of finance will combine investment from Bebo users with that of existing Slicethepie users.

The partnership is expected to launch this month, however an exact date is yet to be determined.

Slicethepie raises money from fans and investors for the recording, production and marketing of new music projects. It does not acquire any copyright or publishing rights from the artist and does not market or promote the record once it is completed.

Bebo, part of the AOL People Networks business unit, has over 22 million unique visitors around the world (ComScore Media Metrix, January 2009). It is a wholly owned subsidiary of AOL LLC, a majority-owned subsidiary of Time Warner Inc.