Do you think that crowdfunding is the future of album funding?
Yes
25% (3)
25% (3)
No
66.7% (8)
66.7% (8)
Not Sure
8.3% (1)
8.3% (1)
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Poll: Do you think Kickstarter/Indiegogo is the future of album funding?

Ah, it's been a LONG time since I've posted a topic. It feels good to be back in the game.

Anyway, the fairly popular progressive metal band Protest the Hero recently fulfilled their contract with their label, and rather than renew it they decided to crowdfund the money for their new album using Indiegogo. They had a goal of 125,000. It's been less than a day, and they've already met the goal - in fact, they're sitting at a comfortable 140,000 as I write this. I donated 50 dollars cause the reward for that was pretty sweet, but I think the fact that they did it in a day is absolutely incredible. The band Mindless Self Indulgence also recently did something very similar to this in December; it took them a bit longer to make the money but they did and also exceeded their goal by quite a bit.

So Escapists, do you think this is the future of music? Do you think the funding role of labels (which is basically their most important function) will be easily replaced by crowdfunding? Or do you think that it might take a bit longer, and that it's really only a viable option at this point for bands that already are pretty damn popular? Will this sort of thing make people more likely to pay for music, or will it increase piracy? Why am I asking all these questions?

Personally, I think that it's most viable with bands that already have an established fanbase, and that for genres other than rock and metal it's going to be hard for something like this to completely catch on. I DO think that it is more likely to get people to pay for music though, or at least get money into the hands of the band. You know that your money is directly going to fund an album that you very, very much want to hear, and that's a beautiful thing. I think that a lot of fans are gonna want to be part of that, possibly even more people than would normally buy their albums.

Link to Protest the Hero's Indiegogo: http://www.indiegogo.com/protestthehero

Link to MSI's Kickstarter: http://www.kickstarter.com/projects/1268472090/brand-new-mindless-self-indulgence-record

It is nice to see indiegogo getting more attention esspecially since it is better than kickstarter though I am fairly sure the reason protest the hero is using indiegogo is cause they are from Canada which kickstarter does not support.

I don't think this is the future but I am sure a few bands will start doing it depending how their fan base is set up etc.

I don't see it as the future, but I do see it being important. I think this will help established artists fulfil their own wants instead of having to cater to a publisher, same for game devs.

I'm not sure if it'll ever be a medium for AAA products, but I don't think it needs to be. Just giving an artist an opportunity to make something fantastic without having to jump through corporate loopholes is awesome. I'm excited to see the products that will come out of Kickstarting/IndieGo.

I really hope so, because it stops bands from being tied down by a record contract and also gets them loads of attention in the process. It'll be slightly harder for new bands to do it though, I guess they'll continue to do it through bandcamp and others websites.

aba1:
It is nice to see indiegogo getting more attention esspecially since it is better than kickstarter though I am fairly sure the reason protest the hero is using indiegogo is cause they are from Canada which kickstarter does not support.

I don't think this is the future but I am sure a few bands will start doing it depending how their fan base is set up etc.

See I had no idea about stuff like this, I don't know any differences between the two sites. Does Indiegogo take less money or something?

Esotera:
It'll be slightly harder for new bands to do it though, I guess they'll continue to do it through bandcamp and others websites.

Not really. At least, not if they do things the right way. A band I am quite fond of recently funded their fifth CD via Kickstarter. Their previous four were a mix of self-funding and pre-sales. But they didn't say "Hey, let's make a CD and see if people like us." They got gigs playing renaissance faires and conventions first, and built up a fanbase. Then made CDs when their fans wanted their music more readily available. As long as making a CD isn't your first goal when starting a band, Kickstarter and the like will work for everyone.

MisterGobbles:

aba1:
It is nice to see indiegogo getting more attention esspecially since it is better than kickstarter though I am fairly sure the reason protest the hero is using indiegogo is cause they are from Canada which kickstarter does not support.

I don't think this is the future but I am sure a few bands will start doing it depending how their fan base is set up etc.

See I had no idea about stuff like this, I don't know any differences between the two sites. Does Indiegogo take less money or something?

They are pritty much the same except that Kickstarter is only available for use to US citizens and just recently UK residents everyone else is held out while Indiegogo is available to everyone no matter where you live. Also since kickstarter gets more attention the projects on indiegogo are in larger need of the funds over all.

it's an alright as ideas go but tbth it strikes me as perhaps a bit of overkill.

laying a recording down that's on par isn't that expensive and hasn't been for a long, long while.

hell, i knew people who bought a record press for a 10th of the amount mentioned in the OP and set themselves up as an independent label almost 20 years ago.

self recording and even self publishing is really not that expensive now.

just takes some balls and maybe kidnapping someone from the more technologically fluent dance music or rap scene or something to plug everything together for you and twiddle the knobs in a way you like :P

the technology of the end product (CD quality audio) has been static for nearly 30 years and relatively inexpensive modern computers and equipment can push it though all the hoops you'd ever want without barely breaking a sweat.

i can only assume for that money they wanted to hire a fancy studio or something...(which isn't really needed nowadays).

PledgeMusic, it's the same thing but just for bands/atists. I've sponsored around 10 acts so far. And unlike games and the like on Kickstarter, bands/musicians are a lot less likely to fail to deliver since most (if not all) the hard work (actually writing the songs) has already been done.

 

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