Fund your upcoming project with Pledge, Kickstarter or Indiegogo

There are lots of tools to help you fund your music career.  From grants to contests there are plenty of ways you can make money if you’re willing to put in some effort.  In this blog we’re going to highlight the route of Internet Campaigns such as Kickstarter, Pledge and Indiegogo.  
 
Being a fairly new medium in funding, advertisement and endorsement, internet campaigns are a rapidly growing and widely successful way to make your dreams become more of a reality.  The biggest thing you need to keep in mind is that it will still take a lot of work to reach your goal, mostly, building up hype and support for your campaign.
 

The first website we’re going to look at is kickstarter.com.  Being one of the largest internet funding 
campaign websites, Kickstarter can offer a lot to a musician with a large following of fans, friends and family.  It is a free service that requires no application process and you can literally choose any amount of money to raise and how long you’ll need to reach that goal.  However, to incentivize campaigners further Kickstarter will not let you take one cent until 
your goal is met.  If you don’t meet your goal in the set number of days you get nothing and have to restart.  An amazing feature of Kickstarter is that there is no ceiling to how much money you can make in those days.  In return it’s advised to set specific 
donation costs, with specific rewards, i.e. “Donate $25 and get a free digital download of our album,” or “Donate $300 and have lunch with the band”.  With all that being said, Kickstarter advises that you shoot for the lowest possible amount needed (to record, tour, or promote, etc.) in the amount of days you need before you start your project, and if you get more money than you originally set; you keep it!  Remember that Kickstarter is open 
to anyone, not just musicians, so you need to work that much harder to promote yourself.  A funded goal can get you great publicity all over the internet so it’s definitely worth your time.
 

 

Next there is pledge.com.  This website is far less know then Kickstarter, but it boasts a success 

rate close to 90%!  It works on the same basic platform, but offers quite a bit for artists and fans alike.  Pledge is the only funding campaign site that is offered exclusively to musicians.  Pledge takes 15% of commission off of your earnings so you have to factor that into your pricing goal.  However, the employees at Pledge have 
connections to some of the music industry’s largest companies and they work tirelessly to promote your project.  Unlike Kickstarter, any money you make, you keep.  You have to apply to enter this program but being accepted means you’ll have a whole staff aiding the promotion of your campaign. The plus side for fans is the very interesting prizing options for donating.  Much like Kickstarter the 
artists choose the prizes, but on Pledge the prizes are often much more out-of-the-box.  The prizes from certain bands range from home-made brownies to attending a personal dinner party to being on the guest list at that bands shows for life!  Talk about incentive.  On top of the sweet prizes, ANY donations made to the band gives the fan exclusive access to information on the project, band, t
our, or recording progress.  The biggest asset of pledge is the connections to the industries professionals, and the work they do for you.
 

 

The last one is indiegogo.com.  Indiegogo is virtually the same as Kickstarter, however you have a choice between fixed or flexible 
funding.  Fixed funding means you have a set number of days to raise the money you’ve chosen, and if you don’t raise it, you get none of it.  Flexible funding means you have a set number of days and whatever you earn you keep.  However, if you choose the flexible funding option you are charged 9% by Indiegogo as opposed to the 4% you would be charged on a fixed pricing.  So it benefits you to go with the fixed 
pricing and save money.  However you need to take into account that you’ll still be charged 4% off the top and make sure you factor that into your budgeting. Indiegogo is open to anyone who wants to make a profile so you have to really push to make your campaign known.  
 
 
All of these are great ways to fund a project.  The biggest thing they all have in common is that they all need alot of work and attention put into them in order to be successful.  You’ll need to market like crazy, be willing to give your time/efforts/possessions away as prizes, and make sure you’re asking for the right amount of money within the right amount of days.  If you do all of those things, then your chances of funding your project will be more successful. Hope this has helped and good luck!
Posted in: Indie Music Tips, Music Consulting.

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