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Need to Raise Some Money???

October 24, 2008

As we’ve been writing our book and this blog, I’ve heard more and more about artists attempting to fundraise their recording fees online. So, I did some digging around to find some sites that may help you out if you’re an artist thinking about this.

Fundable.com is a site dedicated to help you raise money. It’s meant for anyone, but a couple of musicians and record producers/engineers have already been successful with it.

You set a money goal and a deadline and you only get paid out if you meet that. If you don’t meet it, no one is charged. That’s a good thing, because a deadline forces you to hussle and raise that money.

The company takes 10% of whatever you end up making if you meet/exceed your goal. You don’t get charged anything if you don’t. You can also lower your goal if you don’t think you’re going to meet your deadline.

It’s a pretty good deal.

Remember, just asking for money cause you want to record something is weak. Get creative and offer people more. Name drop contributors on your website, credit them as executive producers, etc… Check out the Elihu Project for inspiration on artist fundraising.

I leave with you “Money” by the most excellent Pink Floyd….

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2 Comments leave one →
  1. October 24, 2008 10:34 pm

    Interesting concept, i’m sure it works much better than a regular paypal donate button. I think what’s more interesting is that you guys are writing a book, i’d love to know more about that.

  2. October 26, 2008 4:27 pm

    Kaitis,

    You’re right, a paypal button on its own is pretty weak.

    The book is a much more detailed guide to empower bands to think like entrepreneurs. We talk about managing your money, cost effective promotion strategies, developing a merchandise plan, and a lot more.

    I”ll let you know once we’re done. It should be ready to release early 2009.

    Hoover

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