Fan Funded

No band or artist can survive for long making music without fans. It’s kind of a given. However, some bands are finding a new way to incorporate their fans into the recording process. Beyond studio diaries or exclusive studio videos, some independent artists are taking matters into their own hands: asking their fans to help fund their records.

It makes perfect sense. Who wants a band to put out a new album more than the fans? Nobody. Fans can “donate” money in exchange for prizes, which can include anything from a digital or physical copy of the CD, a thank you in the liner notes, or even a chance for the artist to play your living room.

Although joke-metal band Psychostick and pop singer/songwriter Jill Sobule (“Supermodel” from the Clueless soundtrack) raised funds via their own specially set up websites, Bandstocks.com offers artists, such as Patrick Wolf, the chance to, well, basically do the same thing..

The site is set up on a three-tier system. In the first stage fans can vote for bands they would like to have the opportunity to donate money towards. Fans (or “investors”) then donate money to bands or artists, like Wolf, who make it to round two. Then, once the needed amount is raised, albums get put into production and, in addition to getting a copy of the album and other perks, investors can even make a little bit of extra cash if the album does well.

The coolest thing about this new trend is that artists with a loyal fan base don’t have to wait for record labels to take interest anymore. Instead of depending on the labels to put up money for the album upfront, bands and artists can take their needs to the fans. Labels are very quickly becoming a thing of the past, and this is just one more option for struggling musicians to get their music heard.