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User Name Thread Name Subject Posted
DrugCrazed Crowdfunding Albums (17) Crowdfunding Albums 22 Nov 11

I've been thinking recently about crowdfunding, and just thought about what the Mudcat denizens think of it.

Crowd funding is the idea that ordinary people donate to help you produce something - be it an album, exhibition, science thesis, whatever. It usually works via something like Kickstarter, and they'll take the money if (and only if) the whole target is reached.

So, I can say "My next album is going to be ~?900 to produce" (*cough* buy my other album*cough*) and then go to Kickstarter and start a project there asking for ?900 in donations, offering various bonuses for various levels (?5 gets you a digital copy of the album, ?10 gets you a physical and a digital, ?25 gets you a bonus track etc). If I get ?900 or more in donations, everyone sends the money across, I make an album and everything is hunky dory. If I'm not at ?900 at the end, then nobody loses anything.

Anyone ever used it or have any thoughts? I interviewed one Game Developer who said "It means we have investors who aren't in charge of us".

NB: The ?'s that have appeared were originally pound signs. No idea why they're being changed. I blame my BlackBerry, because it can't be Max's fault.

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