Is crowdfunding the future to the success of upcoming independent bands?

Following successful campaigns by several artists in raising funds for recording new albums is this set to become the future ‘way to go’ for upcoming bands?

With the music industry at the beginning of a new phase after the devastating effect of Covid-19 and the loss of live music performances money is tight.

Many up-and-coming bands who are the future of the scene simply cannot afford the outlay involved to cover the costs of recording studios, producers, physical media production and promotion of the finished product.

A recent campaign by Jack J Hutchinson saw the following results:

  • 172% funded (pretty much fully funded within 24 hours)
  • 209 backers
  • £6K raised (which averages at about £28 per backer, although pledges vary obviously)

As a band you cannot expect to create a campaign and raise thousand of pounds just like that and a major part of raising money will be having some good demo songs to encourage backers and a good social media following will play a huge part too.

The Social Media Effect

Social media plays a massive part in bands gaining fans in this media age and is an essential way to give any crowdfunding campaign the exposure it needs.  This means that you need to use all the channels available to you to attract backers and ultimately get them to part with their hard-earned cash.

You need to be making use of Facebook, Instagram, Twitter & YouTube at the very least as well as sharing details of any campaign with music blogs to gain more followers, fans and ultimately backers.

Giving To Receive

A crowdfunding campaign isn’t a money for nothing affair and as part of a backer’s ‘pledge’ they will generally receive something in return such as:

  • A signed copy of the completed album on CD
  • A signed copy of the completed album on vinyl
  • Handwritten and signed lyric sheets
  • Backer only limited-edition merchandise
  • The backers name in the album notes

Rewards are usually based on the pledge amount, so anything is possible and general amounts such as £10 – £15 for a signed CD and £25 for a signed vinyl are common through to £200+ for things such as used drumheads from recording sessions and private live performances.

Thoughts

It seems like the crowdfunding option is a great way for both bands to raise all needed cash to produce an album and also a way for fans to feel like they are doing their bit and really supporting an artist.

Rock fans are a passionate bunch of people and are among the most dedicated and loyal of a bunch of fans of any genre of music, who will consistently buy and wear band merchandise, buy special editions and attend gigs around the country.

One thing to remember though is that not all campaigns are successful and if you do not raise the money required within the time limit set then you will receive nothing. Best advice would be to thoroughly investigate all costs involved beforehand and make sure the amount you hope to raise in any campaign is realistic and covers all costs involved, including the delivering of all rewards to backers.

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