Crowdsourcing Music Funding
Matt Cowley about over 4 years ago
Tags: music business
The money that fuels the music industry has been getting scarcer for quite a while now. Bands outside the theme-park realm of Madonna and U2 have had a harder time getting funding for recording, touring, and especially promotion. The Guardian reports on one new approach to getting an album made:
The music executives behind Kaiser Chiefs and Primal Scream are backing a new website that will allow music fans to invest financially as well as emotionally in hotly tipped new acts.
Bandstocks will let the public buy a stake in an artist in £10 increments. Once funding reaches a preordained level, for example £100,000, the money will be released for the act to record an album.
It'd be interesting to see that happen with some mid-level artists around here. Or even to boost a local artist up a small notch.
(In a way it's like community radio: thousands and thousands of folks invest a little or a lot, and get paid back in dividends of sound, knowledge and community. If you'd care to invest in us now, please do.)