Ever since the shutting down of Pledge Music took place, a lot of indie musicians and beginners have started losing faith in the process of crowdfunding. However, there are always alternatives to everything so if you are just starting out we would recommend that you consult a music marketer or company that handles these things. In case you have doubts, you can do some internet research for groundwork and then plan out what you think would be best for you.
Crowdfunding can be a hit or miss in a bunch of settings, especially if it is for art related fields so you will have to experiment. There are a bunch of music related platforms that were opened as alternatives to PledgeMusic and we will be talking about a few of them with you so that you have some knowledge and can avoid being exploited in later stages.
Following are some of the various ways and channels for crowdfunding apart from pledgemusic for musicians, check them out below.
If you are not aware of any, a quick search on your internet will lead you to kickstarter as the channel for crowdfunding. It has been the most renowned one since the start of crowdfunding musicians. The best thing about this platform is that they are open to crowdfund all forms of art as long as your work is good enough. It is known because a lot campaigns and record breaking work has come through their channels, including the infamous Pebble Watch, Amanda Palmer’s album centered campaign that has raised over an amount of 1M. The Coolest Cooler is also an option for this.
Another platform that has been known in the art communities. A lot of nonprofits are registering with this platform to raise money for charity. The best part about having this platform is that you get to keep whatever is raised even if you hit your required goal or not. There is also a reduction in taxation of the fees. Your funders and donors will be allowed to write off tax for this particular platform as well.
A downside to this platform is that the 9% of the money raised is kept as a fee for processing all the contributions. So keep this in mind while you are trying to raise funds through this channel or platform. A lot of people would tell you to go for it, but we would recommend that you be mindful of the margin while setting your goal.
If you are confused as to how direct-to-fan campaigns are built then you should know that the owner has the right to select the starting them and then they are customized as the campaign processes. The store is built on those foundations as well. Shopify is one of those fronts where you can access your artists music and merch; while also donating for their cause.
The best part for fans is that they get quality articles and that is one thing that these channels do not compromise on i.e. the quality.