Amanda Palmer, who successfully raised $1 million from her fans, has offered to help Morrissey crowdfund his next album on Kickstarter or PledgeMusic. Morrissey recently stated publically that he can't find a label to fund a record that he syas he wants to make, in part because his doctors told him not to tour.
"You have some of the most fanatical fans in the world; caring and devoted people from countries far and wide who would be really, really happy to support you at levels far beyond $5 just to have the songs in their ears," wrote Palmer in an open letter. "You’re possibly one of the best candidates on the planet to use crowdfunding, because of who you are and what you mean."
Palmer Does The Math: $1.5 Million Net
"Given your record sales and history, let’s make a very conservative guess that 500,000 people back you (i.e., pre-order a digital album) at $5 each," writes Palmer in Salon. "That’s a total of $2.5 million. Assumptions galore, but at a guess: Subtract the 20 percent you will need to pay out to commissions (to your management and digital team) and processing (to the crowdfunding platform) and you’ll be left with about $2 million.. If your album costs half a million to record, you’ll earn about $1.5 million. I don’t know what kind of advances and royalties you were getting from any of your previous labels, but I doubt they could compete with that."