Crowdfunding Albums

Subject: Crowdfunding Albums
From: DrugCrazed
Date: 22 Nov 11 - 09:31 AM

I've been thinking recently about crowdfunding, and just thought about what the Mudcat denizens think of it.

Crowd funding is the idea that ordinary people donate to help you produce something - be it an album, exhibition, science thesis, whatever. It usually works via something like Kickstarter, and they'll take the money if (and only if) the whole target is reached.

So, I can say "My next album is going to be ~?900 to produce" (*cough* buy my other album*cough*) and then go to Kickstarter and start a project there asking for ?900 in donations, offering various bonuses for various levels (?5 gets you a digital copy of the album, ?10 gets you a physical and a digital, ?25 gets you a bonus track etc). If I get ?900 or more in donations, everyone sends the money across, I make an album and everything is hunky dory. If I'm not at ?900 at the end, then nobody loses anything.

Anyone ever used it or have any thoughts? I interviewed one Game Developer who said "It means we have investors who aren't in charge of us".

NB: The ?'s that have appeared were originally pound signs. No idea why they're being changed. I blame my BlackBerry, because it can't be Max's fault.

Subject: RE: Crowdfunding Albums
From: GUEST,punkfolkrocker
Date: 22 Nov 11 - 09:57 AM

Educated guess - it's more likely to work effectively for established artists with a long respected track record
and an already existing significant sized fanbase.

The kind of artists considered no longer 'relevant' and ruthlessly axed by major labels....

Subject: RE: Crowdfunding Albums
From: BTNG
Date: 22 Nov 11 - 10:09 AM

The Canadian ensemble
Stringband released an album, Thanks To The Following in 1977, it was financed by advance subscription orders from fans of the group. These subscribers and investors' names appear on the LP's cover. Alas, the recording has been long out of print.

Subject: RE: Crowdfunding Albums
From: GUEST,punkfolkrocker
Date: 22 Nov 11 - 10:22 AM

google "Fan Funded"...

Subject: RE: Crowdfunding Albums
From: theleveller
Date: 22 Nov 11 - 10:49 AM

I think punkfolkrocker is right about having an established fan base.Do some quick sums: you want to raise, say, £10 each from 90 fans. Realistically, if you got 1% of your fan base to cough up the dosh you'd be doing extremely well (I'm applying my knowledge of charity fundraising here). So you need a hardcore of 9000 fans at least. Are you that popular?

But best of luck if you go ahead - I'm sure lots of us will be interested to see how you get on.

Subject: RE: Crowdfunding Albums
From: GUEST,matt milton
Date: 22 Nov 11 - 11:15 AM

Yeah, with the best will in the world, I can't see crowdfunding working for you, DrugCrazed.

That's not a comment on your music or your abilities, it's simply that for it to work you already need to have built up a head of steam. You have to have a fanbase. Do you have a fanbase?

As far as I can see, an unknown artist saying "I think I'll try crowdfunding an album" is a bit like an unknown artist saying "I think I'll try playing Glastonbury".

Didn't you say you had a mate with a studio or something?

Subject: RE: Crowdfunding Albums
From: GUEST,punkfolkrocker
Date: 22 Nov 11 - 11:17 AM

an interesting and perhaps illuminating read from 2010..

http://www.nme.com/blog/index.php?blog=10&title=the_problem_with_fan_funded_music&more=1&c=1&tb=1&pb=1

One of the most important bands in the entire history of anything and everything ever to do with music

"Gang of Four"

[ok.. one of my most favourite personal influences..]

got their hands sullied and burnt by a similar campaign in 'pledge' funding..


I recall some of the fall out on fan forums at that time became very resentful and nasty..

Subject: RE: Crowdfunding Albums
From: BTNG
Date: 22 Nov 11 - 11:31 AM

re Gang of Four. I think I'll stick with the way Stringband did it.

Subject: RE: Crowdfunding Albums
From: DrugCrazed
Date: 24 Nov 11 - 05:32 AM

It's unlikely I'll be crowd funding the album (quick sums suggest that 900 is right, but that's all estimates).

I have seen some people for whom it works amazingly Marian Call being one. It seems to me that doing a small kickstarter increases your chances exponentially - I wouldn't attempt to do a ?2000 project because I wouldn't expect to achieve it.

Subject: RE: Crowdfunding Albums
From: GUEST,punkfolkrocker
Date: 24 Nov 11 - 09:19 AM

Seeing as I already own plenty enough music hardware collected at my own expense over the last few decades;
and acknowledging my own 'in-built' limited popularity
[and presently non existent fanbase] -

Folks like me might be interested in exploring some internet method
for distributing home 'project studio' recorded music for free
that provides facilities to set up "wish list" accounts...

Just in case any kind philanthropic listeners appreciate our efforts sufficiently to donate small amounts
to help with running expenses for essential items such as new sets of strings,
guitar cables, batteries, shareware music software, mic stands, etc...

maybe if popularity gradually increases, there's some kind of 'token' system somewhere
to help contribute towards more substantial equipment
like decent quality budget priced Valve Condenser Microphones or new upgraded computer components
[ that I certainly can't afford anymore ],
that will help improve sound quality for ongoing recordings.. ???????????????

For the moment, Bandcamp certainly looks to be an interesting & potentially promising start-up platform
for 'Indie' / 'vanity publishing' music artists
to test out a new future of self promotion and progressive 'financing models' ... ???

Subject: RE: Crowdfunding Albums
From: GUEST,matt milton
Date: 24 Nov 11 - 09:46 AM

"Folks like me might be interested in exploring some internet method
for distributing home 'project studio' recorded music for free
that provides facilities to set up "wish list" accounts..."

The thing is, there kind of is.

Amazon wishlists.

Paypal.

The one thing that rarely gets talked about in discussions of digital-era music sales, piracy, illegal downloads etc etc is that there is never anything actually STOPPING any member of the public giving a musician some money, at any time.

Just because somebody is giving something away for free, doesn't mean you literally cannot entertain the notion of giving them some money. The idea of voluntary payments, or of paying somebody MORE money than they have asked for in exchange for goods or a service is something that rarely gets aired.

Paypal do wishlists now. So there's nothing stopping you putting a link to your Amazon or Paypal wishlists on your website, with an "if you've enjoyed this music, feel free to surprise me by buying something from my wishlist by clicking here..."

Hey, here's mine. I don't even have any albums for anyone to download, but if there are any Mudcat-reading billionaires out there desperate to throw money around, they're welcome to buy me stuff:
http://www.amazon.co.uk/registry/wishlist/2EUEYUR0Q3A9S/ref=cm_wl_act_vv?_encoding=UTF8&visitor-view=1&reveal=

Subject: RE: Crowdfunding Albums
From: dick greenhaus
Date: 24 Nov 11 - 03:56 PM

If you want some MUDCAT-Funding albums, try the "THis is Us" set.

Subject: RE: Crowdfunding Albums
From: BTNG
Date: 24 Nov 11 - 03:58 PM

I believe DrugCrazed is talking about raising funds for his own work....

Subject: RE: Crowdfunding Albums
From: DrugCrazed
Date: 24 Nov 11 - 07:12 PM

Hey, people who want to throw money at me can just buy my album. Until I have someone who tells me I can't use BandCamp, I will use BandCamp. They make me happy.

I'm sorely tempted to attempt a crowd funding thing...

Subject: RE: Crowdfunding Albums
From: BTNG
Date: 24 Nov 11 - 07:20 PM

a friend og mine in Toronto recommends, she was a member of Stringband whom I mentioned some posts back

http://www.kickstarter.com/

http://www.gofundme.com/

Subject: RE: Crowdfunding Albums
From: Anne Lister
Date: 24 Nov 11 - 07:36 PM

My last album was funded by fans, many of whom are Mudcatters. There are also a number of sites out there which are set up to enable people to do this. I didn't find any downside to the whole project - quite the reverse - and I may well try the same thing again some time!

Subject: RE: Crowdfunding Albums
From: DrugCrazed
Date: 25 Nov 11 - 05:52 AM

I think I'd better write the songs before I start the requests then.

That can't take long...right?