Over the past three decades the music industry has been changing rapidly. No longer is being signed to a major label the only way to secure the means to make a record. Firstly, there is the availability and relative- affordability of high quality recording software and equipment. However, for those seeking to make a record in a studio, there is the recent popularity of the concept of crowdfunding.
What is crowdfunding?
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How do I begin a campaign?
1. Select a platform
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2. Create some perks
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3. Promote your campaign
Key points about crowdfunding
- Fans put a considerable amount of faith in a musician to deliver the final product and the musician will have to account for manufacturing and shipping.
- It takes a lot of promotion and hard work
- Offering exciting incentives and rewards is vital
- Whilst crowdfunding is an accessible way of generating revenue, those considering it should be entirely honest about the potential of the project.
Research suggests that bands that have been successful with crowdfunding have worked hard creating well thought-through marketing campaigns and have offered exciting, motivational rewards to those who donate.
Have you organised a crowdfunding campaign? Let us know your experiences in the comments below!
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