Crowdfunding: Musically yours

Crowdfunding has seen large numbers of takers in recent years and is gaining momentum in many fields, including music. The music industry has, for the past five years, been quick to assimilate this exciting form of financial assistance.

In recent times, crowdfunding has been one of the most promising means for new artists to garner money and produce their art. With internet being as democratic and far-reaching as it is, and large-scale and long-term investments being hard to come by, it is no wonder that this endeavour has become an important platform for new talent. 

The music industry has benefited greatly from this form of investment. Music creation is an arena in which many covet to find their niche and there is almost an inexhaustible pool of talent. Hence, music events and albums starting to be crowdfunded is a blessing in disguise for youth fettered only by the lack of resources. What’s better than people laying their trust on upcoming artists and agreeing to fund their production? As a goodwill response to this, artists are motivated to provide gifts to these ‘investors’ of good faith.

skyharbourProgressive metal band, Skyharbour

A really cool example is that of the progressive metal band, Skyharbour. The Indian indie band crowdfunded their 10-track album, ‘Guiding Lights’, with overwhelming success, reaching their required monetary target 125 days before the funding campaign was about to end. As gratitude, everyone who pledged got access to weekly interviews, studio footage, and behind-the-scenes glimpses of the band’s video. Skyharbour also gave their supporters bonus tracks and Skype music lessons.

Another famous example of successful crowdfunding is that of Vasudha Sharma, vocalist of the pop band Aasma, who crowdfunded her debut album, ‘Attuned Spirits’.

Even large scale events have been crowdfunded. The best example in this regard is Control Alt Delete. This crowdfunded musical fiesta will have its eighth edition in June. Its pay-what-you-want drive has sustained steady income and ensured that fans are not disappointed with the line up of artists and bands that the collaborators entertain them with.

This is where the role of a crowdfunding websites such as Ketto becomes crucial.  Crowdfunding websites develop the campaign plan for clients, like music composers and artists, and list their requirements, update their daily collection, spell out the returns the crowd would get, among other things. This increases credibility and ensures a demand-supply coordination, apart from increasing transparency.

Crowd funding is a good way to benefit from trust, goodwill and love for the art, which were kind of getting diluted in a world of commerce and quick-sells. Applied to various fields of art, it will bring out the best budding talent, and provide hearty motivation to even the most cash-strapped ideas.

So, what are you waiting for? Sign up with Ketto and make your dream a reality.

To know more, visit ketto.org/fundraising-music.php

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Alok Purohit

He has nothing but respect for all forms of social activism. He hopes to do his bit by writing some cool blog posts with heart...and soul!

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