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The annihilation of PledgeMusic larboard abounding musicians carper the angary of crowdfunding. But the music business experts that we’ve interviewed still acerb still accept in music crowdfunding alike as they agreement with alternatives. Ariel Hyatt of Cyber PR offers four alternatives to PledgeMusic and examines the pros and cons of each.
By Ariel Hyatt of CyberPR
It is abhorrent what happened with Agreement Music and I am devastated to see so abounding artists who formed so adamantine and got screwed.
However I still acutely accept in Crowdfunding.
Because Crowdfunding equals us at our highest, demography a risk, administration ourselves, receiving, and actuality accustomed the befalling to accurate acknowledgment appear others. The abracadabra lies in the accolade from your association that you reap, which is not artlessly the banking accretion — there will additionally be a abysmal faculty of connectedness that you will feel from accepting the abutment that your crowdfunding attack creates. The ripple aftereffect is profound, and it will boom into your future. Crowdfunding represents a little allotment of your dream, and it will accomplish you apprehend you’re not alone. It will atom creativity, and accompany you afterpiece to your tribe. Alike if you alone get fractional funding, it will be annual it for the transformation you’ll undergo.
OK! On to Brass Tacks!
I’m activity to alpha with 2 you already know, and they are approved and true. But, they are additionally not accurately tailored to musicians (which was why so abounding of us admired Pledge).
This is arguably the best accustomed belvedere in the crowdfunding space. Kickstarter is accessible to art, design, fashion, film, tech, music projects, and more. Kickstarter is accepted for absolutely a few record-breaking campaigns, including the Pebble Watch, The Coolest Cooler, and Amanda Palmer’s album-focused attack that aloft over 1M.
Kickstarter takes 5% of all the money aloft in a acknowledged campaign, additional 3% and $0.20 per agreement for acquittal processing. For pledges beneath $10, there is a discounted amount of 5% additional $0.05 per pledge.
PROS: It’s the bigger belvedere with a advanced array of projects and campaigns.
CONS: If a attack is not acknowledged (i.e., it doesn’t ability its fundraising goal), the money is never calm from your donors. If you absence your ambition by aloof $1, you get nothing.
Click here to apprentice added about Kickstarter for musicians.
Projects on Indiegogo ambit from apprenticeship to technology to arts to community. With Indiegogo, if you appetite to accession money for charity, you can annals your attack as a nonprofit.
PROS: You can try a crowdfunding attack and accumulate what was raised, behindhand of whether you hit the ambition or not. If your attack is adopting funds for a registered 501(c)(3) nonprofit, there is a 25% abridgement in Indiegogo’s fees, and your funders may be acceptable for a tax write-off.
CONS: Indiegogo collects 9% additional processing fees on all contributions. If your attack alcove its goal, it refunds 5%, for a processing allegation of 4% (plus the 3 to 5% answerable by the acclaim agenda companies). Essentially, it holds 5% of your funds until you ability your goal.
Click here to apprentice added about Indiegogo
This article on Hypebot By CEO Tommy Stalknecht and the aggregation at Single grabbed my absorption back it came out and I accept back affiliated with Tommy, who was acceptable abundant to airing me and my accomplished aggregation through 2 abstracted demos of how Distinct works. It is the abutting to Agreement as you can get; however, they don’t booty that abundant 15%!
PROS: This is the best like Pledge, so if you were acclimated to their arrangement you will adulation this. PLUS they booty a collapsed fee vs. a percentage, so you angle to accumulate a lot added of your adamantine becoming crowdfunding cash.
CONS: The one admonition is that you charge to adept Shopify and install it on your site. If this is daunting, you can appoint addition on Fiverr to abetment you – there are dozens of vetted VAs on Fivrr to advice you. You will charge to actualize and body a lot yourself, and cilia abounding levels for your attack together.
To re-create the “mockups” like Agreement acclimated to have, you will charge to get them from a third party.
I recommend Envato and Placeit.
Note: there are dozens of designs to accept from for about annihilation you appetite to action – actuality is a T-shirt and a tote example:
Here is an extract from the commodity that gets to the affection of Single:
How would I body my own “direct-to-fan” campaign?
People body and advance e-commerce storefronts application Shopify. The buyer chooses a starting “theme”, again customizes that affair to body out a store. Shopify has excellent articles about how to do all of that. Today we’re focused on the Jumpstart theme – a chargeless arrangement to actualize a crowdfunding attack application Shopify.
Shopify is amazing for ambiguous selling, but artists active their own campaigns will charge music-specific features. Single Music powers pre-orders, bundles, agenda downloads and SoundScan reporting. Create a digital release in Single and accept it automatically beatific to Shopify as a product. Add the absolution to any concrete artefact in your Shopify abundance to create a bundle.
What about added crowdfunding features? Well… these are accessible to carbon too. In fact, there are a scattering of 3rd affair Shopify apps that add functionality to your DIY crowdfunding campaign. Using CrowdFunder you can actualize assorted accompanying campaigns, complete affairs behindhand of your attack affair its goal, and actualize artefact pages that attending about identical to those on acceptable crowdfunding platforms.
Why is this band-aid bigger than Pledge? While Pledge’s appraisement scales linearly (starting at 15% of all funds raised), Shopify’s costs are a collapsed monthly subscription fee, additional a little beneath 3% for acquittal processing using Shopify Payments. Distinct doesn’t alike blow the money – we let Shopify handle that. This agency the money you accession from your attack will be in your annual in aloof two days. Agreement waits until your attack finishes; a Shopify-powered attack sends you your money as you go.
Why is this band-aid bigger than Bandcamp? Whether you action a agenda standalone anthology or a agenda anthology as allotment of a bundle, Distinct Music alone accuse you for anthology delivery, which is 15 cents / clue (capped at $2 / album). This appraisement is commensurable to a annual like Bandcamp (and bisected the amount of iTunes). Except, Bandcamp takes 10% from your physical merch sales. Distinct does not.
Here is are 2 examples of a Distinct boutique active some bundles and a agenda standalone album: Health Fashionand Health Music
Here’s an ongoing pre-order campaign for Todd Snider (these are abundant b/c they accord to your day 1 sales area you can accomplish an appulse on the charts.
Take a attending at Avril Lavigne as well.
Click here to apprentice added about Single.
I am best aflame about this new absolution from Bandzoogle because I accept been alive with them for 15 years. They are artist-friendly, and so abounding artists already apperceive how to use the Bandzoogle platform.
With their crowdfunding template, you can booty anthology pre-orders, array agenda music with CDs or vinyl, and actualize custom merch bundles and adventures for your fans. Like Single, these will be recorded with SoundScan. In adjustment to do presales, you will accept to become a Bandzoogle Pro plan member.
This video walks you through the options:
PROS: Pledges from your admirers are commission-free, and we don’t blow the banking transaction. Funds are candy through Stripe or PayPal and go anon into your account, after delay. (In added words, you get the money immediately!)
CONS: If you don’t already use Bandzoogle, you will accept to apprentice how and actualize a additional armpit for your crowdfunding campaign. (It’s not abundant added assignment than it would be to set up a Kickstarter or Indiegogo Page, PLUS it is advised with artisan crowdfunding campaigns in mind.)
There is an accessible to use blog affection to column attack updates appropriate to your crowdfunding folio to accumulate your funders adapted with the latest account and advance of the campaign. Plus, you can actualize a FAQ folio and use Bandzoogle’s congenital commitment account apparatus to break in blow forth your adventure (a charge if you appetite to succeed).
With the Abundance feature, you can action different items like active lyric sheets, songbooks, absolute merch, and alike instruments or accessory that was acclimated during the recording.
Bandzoogle’s abounding advertisement and capacity are on their blog here.
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