Is Artistfunding a good business model for Indie Artists?
(by )
(by )
Posted
on: 21 May, 2009
Questionable funding tactics have been utilized to help independent artists execute their projects. Business models such as "Artistfunding," have taken a front seat as an alternative to the major-label industry approach.
Basically, artists provide services, appearances, or signed products in exchange for an investment in their project that needs funding. Artists offer signed CD's, posters and even offer performances to the fans that "invest," or "donate" to their fund. The higher the investment, the more prestigious product or service the artist will provide fans who give money.
Some artists might see this type of model as a great way to create a financial base for their work, but there are also indie artists who are still skeptical about it. Especially, the indie artists who do not have a fan base, yet. Artists with a solid following are the only people that can take advantage of this business model.
An example of this model is The Hector Fund. The fund has 3 indie artists on-board who make use of the "artistfunding" model. The artists describe this approach as "cost-effective," but is it just a way to not have to earn their own fund through honest hard work?
In the past, bands have funded their own projects, and had to tour while selling their CD's and marketing products in order to keep their art moving forward. But with this type of funding, artists are just relying on what they are given, instead of what they earn.
Sure, they agree to give out t-shirts and give phone calls, but is this really an honest way for artists to generate a fund?
What do you think?
Basically, artists provide services, appearances, or signed products in exchange for an investment in their project that needs funding. Artists offer signed CD's, posters and even offer performances to the fans that "invest," or "donate" to their fund. The higher the investment, the more prestigious product or service the artist will provide fans who give money.
Some artists might see this type of model as a great way to create a financial base for their work, but there are also indie artists who are still skeptical about it. Especially, the indie artists who do not have a fan base, yet. Artists with a solid following are the only people that can take advantage of this business model.
An example of this model is The Hector Fund. The fund has 3 indie artists on-board who make use of the "artistfunding" model. The artists describe this approach as "cost-effective," but is it just a way to not have to earn their own fund through honest hard work?
In the past, bands have funded their own projects, and had to tour while selling their CD's and marketing products in order to keep their art moving forward. But with this type of funding, artists are just relying on what they are given, instead of what they earn.
Sure, they agree to give out t-shirts and give phone calls, but is this really an honest way for artists to generate a fund?
What do you think?
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