3 Benefits Of Music Crowdfunding Beyond "Show Me The Money" - hypebot

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Sifar

True. A thought - If I have to think of crowd-funding as a business model then I should mention to my fans that a portion of the monies raised will go to my personal account in addition to mentioning exactly how much goes into production and how much into fulfillment and distribution. Else, you're just covering costs and it's still great - just not a business model. And if you don't mention how much goes into your personal account, then it doesn't seem right. Anyone else feel like that?

Brian Hazard

Great points Clyde! Taken to logical extremes, I wonder if setting an extremely unlikely target would still be worth it for the press angle ("let's beat Amanda Palmer, etc").

Clyde Smith

Crowdfunding is not a business model. It's a one time event that is one element within a larger business model.

But you bring up an interesting point regarding taking money off the table and transparency.

Clyde Smith

I would really hesitate to do that. I know when I see musicians claiming they're going to do something that seems really beyond them it kind of makes me think they're either talking empty publicity talk or don't know what they're doing. And either would turn me away.

It reminds me of some of the publicity I used to get in hip hop media!

martin atkins

its not a one time thing - this was Amandas fourth campaign - think she might do another at some point?

Clyde Smith

That's a good point given that it doesn't seem like something most bands could do on a regular basis.

I would be surprised if she didn't keep doing such campaigns though I would expect her to develop her own platform so she doesn't give up that percentage.

Alex

Actually, it's kind of immoral to publish your books. You know society has reached a new low in it's decay when everyone starts publishing their income. Because there is only one way to get there: institutionalized envy.

Sifar

I'm not sure if I follow but in any case, I wasn't talking about publishing one's books. If fans are acting like investors, then one needs to tell them where exactly their money is going

Alex

Yeah, I wouldn't consider them investors. Investors make things happen by putting their money at risk with chances of making a profit. Music fans are not profiting. When they interact with you, they are getting something that they value more than the X amount of dollars they are spending on you.

Transparency is not needed, unless you want it to be part of your identity as an artist.

Sifar

oh yeah. makes sense.

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