Many of us know all too well how difficult it can be as an artist to maintain a sustainable income and raise funds for projects. However there are solutions and they come in the form of crowdfunding and subscription content services.
Monetising and raising funds, as well as generating an income to support your creative endeavours, can be a challenge. Unfortunately, it can often be a reason why genuinely wonderful ideas and projects fail or never see the light of day. Thankfully, there are platforms such as Kickstarter, Gofundme and Patreon out there, which offer services to help people and fans invest in your business, or project.
There are two main approaches:
- A one off campaign
- Monthly subscriptions
So, which of these is best for you? In both cases it’s considered wise to have a reasonably healthy social media presence to begin with, but it’s also a good idea to learn about their suitability for what you’re trying to achieve. For example, crowd funding is often considered useful when trying to raise a substantial amount of money for a specific goal, or project. This could be recording an album, which might include studio time, production costs, artwork and distribution overheads. Here’s a quick explanation video:
Rather than doing a one off campaign, Patreon is slightly different as it allows people to support you by donating on a monthly basis, in order for you to sustain your ongoing ventures. Find out a little more about the ethos and how it works here:
In return for their help and investment, you can return the favour to your supporters by giving them discounts, limited edition merchandise/releases, behind the scenes access to videos and other special, one off perks that are not available to the general public. Both approaches can be wonderfully innovative.
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