You may have read in the press recently that Sophie Ellis-Bexter has self funded her latest album as she was lucky enough to have the money to be able to do that. With her resurgent fame from her appearances on Strictly Come Dancing she has timed her latest release perfectly and the whole project was a ‘gift to herself’. You may be thinking what has this got to do with me, why do I need to know that a celebrity star is able to self fund an album, good for them!!! Fundervine on the other hand is exactly what you need to know about if you want to self fund your album or any music of film project for that matter.
Crowd funding is a phrase you will be hearing more about and effectively, given you have an audience to begin with, you too can fund your own album, your own tour, your own video, or even your own film. Fundervine is the sister company of Aurovine and this is a service that is open for business right now to help you fund your events or projects.
Let me illustrate how this works. You want to put on a band showcase but you are worried about how much it is going to cost and if you will lose money on it if you don’t get enough people through the door. By using Fundervine you can gauge the interest of your audience before even a penny is exchanged. Create a project file on Fundervine explaining what the event is and what artists will be playing and what the financial target is you need to reach to be able to put the event on. You then create various packages for your audience to buy. This can range from simply tickets for entry, to a ticket with t-shirt, a ticket with a band CD, a ticket with a signed T-shirt and a headlining bands DVD, and the list could go on. Each package has a price and and depending on the venue capacity you limit the amount of tickets per option to fit the venue.
A time limit is then set as to when you need to hit the target by so that people know how quickly they need to pledge their interest. This is the beauty of the service. Once you have pledged to buy a ticket no money is exchanged until the target date has been reached. If the financial target has not been hit the event is cancelled and no money is taken. Once the target has been reached on the end day of the time limit the money is then taken and the event goes ahead with you save in the knowledge that all costs will be met without you having to dip your hand in your own pocket.
Stress free event organising for dummies brought to you by Fundervine.
Check out www.fundervine.com for more details or if you want to talk to someone about it you can email me at [email protected]
article by Dave Blundell