AbsolutePunk.net
   Username
Password
AP.net Related News
Hint: Have a news tip? Submit us news.
AP.net Related
Inside AP.net

Too Long; Do Read: Crowd-Funding Websites

Posted by: Thomas Nassiff (03/29/12)
A lot of folks around these parts have been clamoring for a more in-depth look at Kickstarter and other crowd-funding models. I did some research, interviewed a couple dozen people and ended up with my Too Long; Do Read article for March, called Kickstart This: Crowd-Funding Websites Help Creators Bypass Traditional Forms of Investment. As you'll see from the beginning of the article, it's not just about music - crowd-funding websites are used by many different types of people, so the article is a more business-oriented look into the increasing popularity of these models and offering some insight from bands like The Narrative and Five Iron Frenzy as to what their Kickstarter experiences were like. The article also includes some fairly interesting stats analysis that illustrates Kickstarter's growth, a day-by-day Kickstarter diary from The Classic Crime, and some input from Stray From the Path guitarist Tom Williams about the negative aspects of the site. So check it out and leave your thoughts in the replies.
From the ArticleIn some ways, Kickstarter has become, from a band's perspective, a record label of the people. Bands are funding album releases in ways that were once reserved for groups on a label, but instead, the people funding it are those who actually want to buy the album. It's a way for a struggling industry to support itself - a fan who wants to see his favorite band survive to put out another record can help make it happen himself. His incentive? Not only might he get a unique reward, but more importantly: He contributes directly to a band whose music he enjoys, supports their career and gets to hear more music. For all the groups that have been faced with breaking up because there wasn't enough money left in the tank to embark on another tour or fund another album release, crowd-funding might be the way to stop the bleeding.
    
 
Displaying posts 1 - 15 of 38
10:04 AM on 03/29/12
#2
Thomas Nassiff
resuscitation of the year
Offline
User Info.
Thomas Nassiff's Avatar
Sorry the article got cut off the first time everyone, this should all be gravy now.
10:16 AM on 03/29/12
#3
trojanick
they all got boyfriends anyway
Offline
User Info.
trojanick's Avatar
Really well-written article. That pizza story was a great hook and you got some good sources in there.

How much does Kickstarter take from the total? 15%?
10:18 AM on 03/29/12
#4
skinnypuppy
Jon Hughes
Offline
User Info.
skinnypuppy's Avatar
I'm fully supportive of this; however it's really awkward when a band doesn't reach their goal. I feel bad for them. You need a very solid fanbase of supportive fans who wont get their panties in a knot that they actually have to, for the first time, support their favorite artist.
10:25 AM on 03/29/12
#5
kaylasananjou
Count Your Lucky Stars Records / Kayla
Offline
User Info.
kaylasananjou's Avatar
I'm fully supportive of this; however it's really awkward when a band doesn't reach their goal. I feel bad for them. You need a very solid fanbase of supportive fans who wont get their panties in a knot that they actually have to, for the first time, support their favorite artist.
Yeah. The last kickstarter I donated to was looking grim for a bit, but he ended up raising a thousand dollars OVER his goal, so that was pretty cool.

I think for the most part, bands in this "scene" wouldn't have the problem of fans actually spending money on them.. But that's my personal opinion; I'm the type of person that puts way too much money into my favorite artists, haha.
10:26 AM on 03/29/12
#6
Spencer Control
Will you catch me if I blow away?
Online
User Info.
Spencer Control's Avatar
Great read, Thomas. I would have liked a little more of a conclusion, but still - very interesting.
10:58 AM on 03/29/12
#7
kic5036
Registered User
Offline
User Info.
kic5036's Avatar
Good read. I think this is a great way for listeners to take things into their own hands instead of having projects a record label has invested heavily in forced on us in hopes to squeeze out a profit.
11:14 AM on 03/29/12
#8
Thomas Nassiff
resuscitation of the year
Offline
User Info.
Thomas Nassiff's Avatar
Really well-written article. That pizza story was a great hook and you got some good sources in there.

How much does Kickstarter take from the total? 15%?
Five percent, Amazon takes a tiny piece too.
Great read, Thomas. I would have liked a little more of a conclusion, but still - very interesting.
I wanted to do something at the end, but figured it woulda added 200-ish words and since it's basically a trend story, I felt like the anecdote was a fine way to end it. But yeah, definitely not the way I'd normally conclude a story.
11:30 AM on 03/29/12
#9
Spencer Control
Will you catch me if I blow away?
Online
User Info.
Spencer Control's Avatar
Five percent, Amazon takes a tiny piece too.

I wanted to do something at the end, but figured it woulda added 200-ish words and since it's basically a trend story, I felt like the anecdote was a fine way to end it. But yeah, definitely not the way I'd normally conclude a story.
Fair enough, yeah. I was just a little disoriented, especially with the amount of information and data that had just been thrown at me.
01:47 PM on 03/29/12
thethirddegree1
a sheep in wolf's clothing.
Offline
User Info.
No Avatar Selected
Brilliant piece. Especially with all the backlash going on over these kickstarters lately, its great to read something BASED ON ACTUAL FACTS AND RESEARCH. Well done.
02:58 PM on 03/29/12
njdevils327
You know Craigslist? That's my list
Online
User Info.
njdevils327's Avatar
Five percent, Amazon takes a tiny piece too.

I wanted to do something at the end, but figured it woulda added 200-ish words and since it's basically a trend story, I felt like the anecdote was a fine way to end it. But yeah, definitely not the way I'd normally conclude a story.
5 percent? thats it? wow they provide aa really valuable service and thats a great deal.
02:59 PM on 03/29/12
njdevils327
You know Craigslist? That's my list
Online
User Info.
njdevils327's Avatar
Also, fantastic article Thomas. Really well researched and written
03:02 PM on 03/29/12
Thomas Nassiff
resuscitation of the year
Offline
User Info.
Thomas Nassiff's Avatar
5 percent? thats it? wow they provide aa really valuable service and thats a great deal.
When you think about it that's $5 million in revenue just from the fees of projects funded in 2011.
03:06 PM on 03/29/12
njdevils327
You know Craigslist? That's my list
Online
User Info.
njdevils327's Avatar
When you think about it that's $5 million in revenue just from the fees of projects funded in 2011.
yeah but 5 million is significantly less that 15 million for a fledgling company.
03:17 PM on 03/29/12
Wake Up
█▓▒░░
Offline
User Info.
Wake Up's Avatar
satchel's pizza is so good
Options
Related News Stories

NEWS, MUSIC & MORE
Search News
Release Dates
Exclusives
Best New Music
Articles
CONNECT
Submit News
Forums
Contests
Mobile Version
AP.net Logos
HIDDEN TREASURES
AbsolutePunk Podcast
Free Music
Sports Forum
Technology Forum
Recommendations
INFORMATION
Advertising
Contact Us
Copyright Policy
Terms of Service
Privacy Policy
FOLLOW
Twitter | Facebook | RSS
PropertyOfZack
PunkNews.org
UnderTheGun
Chorus.fm