Fan-Funding Made Easy

One of the most common hurdles faced by the do-it-yourself artists when beginning new projects is funding. Major record labels bring to the table major marketing and production budgets that are not accessible by independent artists. Many independent musicians lack the financial resources needed to properly promote, manufacture and create recorded music.

There are a variety of ways that indie artists circumvent inadequate funding. Technology today allows artists to reach fans effectively and more cost-efficiently than ever before. Social media, home studios and digital music retailers are becoming more prevalent in the music industry, which also equates to lower costs for the DIY artists. Sites like Kickstarter.com, Artistshare.com and Indiegogo.com provide a platform for fan-funded projects to develop.

Through Artistshare.com, Yeahwon Shin, a South Korean vocalist and arranger, is releasing her U.S. debut album with the help of her fans. Her project’s page on the site shows video footage of Shin throughout the recording process. Click on the month and watch the progress she makes on the record. There are various messages from the Shin on the page to view as well. However, access to some of the messages requires donations.

Fans donations are broken down by purchase prices. The donations provided by Shin’s fans vary as does the benefits received. Prices for purchase range from $12.95 for the ‘Yeahwon Download Participant’ to the $12,500.00 ‘ArtistShare Executive Producer Participant.’ By purchasing the album, fans may receive a credit listing on the physical CD, a chance to participate on a track, an invitation to a recording session, VIP access to Shin’s performances for an entire year, an opportunity to name the album and more depending on the price paid.

Kickstarter.com is another popular site for indie artists to use as a platform for raising funds. Panacea, a hip-hop group from Washington D.C., used Kickstarter.com to fund a limited vinyl pressing of their album ’12 Step Program.’ The band gave fan-packages in exchange for donations. One premium donation of $1,000.00, which sold within 24 hours, gave a fan the chance to be included on the record. By the end of the first day of the project’s posting on kickstarter.com, nearly one-third of the goal had been met. The group raised the needed funds in less than 5 days.