Best Crowdfunding Sites for Musicians

When you think about crowdfunding you probably imagine some innovative new tech products or a fun new idea for a board game. But could crowdfunding also be used to help musicians fund their creative projects, albums, tours, and more?

In this article, we explore the benefits of crowdfunding, explain how to choose the right crowdfunding platform for musicians and offer our picks for the top five best crowdfunding sites for music. We also provide crowdfunding tips for musicians and answer some of the most frequently asked questions from artists.

So, if you are a musician looking for a creative way to raise funds for your next project, an upcoming tour, read on for a look at the best crowdfunding sites for musicians.

Key takeaways

• Crowdfunding offers significant benefits to musicians, including financial independence, direct engagement with fans, market validation, and creative freedom, making it an attractive funding option for their projects.

• Choosing the right crowdfunding platform is critical for success. Musicians should consider factors such as project goals, platform fees, funding models, audience reach, and past achievements of musicians on the platform before making a decision.

• Each crowdfunding platform has its strengths, and musicians should choose the one that best aligns with their projects and goals.

Why musicians should consider crowdfunding

Nowadays, it’s common knowledge that crowdfunding is the way to go when bringing a new product to market, raising money for a charitable cause, or even starting up a new restaurant. So why shouldn’t musicians also look to crowdfunding to get their creative projects off the ground?

Here are five reasons why every musician should consider crowdfunding:

• Financial Independence: Crowdfunding allows musicians to bypass traditional record labels and financial institutions, giving them greater control over their artistic endeavors.
• Engaging Fans: Crowdfunding campaigns encourage direct engagement with fans, fostering a stronger bond and sense of community.
• Market Validation: A successful crowdfunding campaign can serve as proof of concept, helping musicians attract attention from industry professionals and potential collaborators.
• Creative Freedom: Musicians can pursue unique and experimental projects without the pressure of commercial viability.
• Pre-Selling Music: Crowdfunding enables musicians to offer exclusive perks and pre-sale opportunities, enticing fans to participate.

How to choose the best crowdfunding platform for musicians

With so many platforms available, each offering different features, audience reach, and funding models, musicians should consider several factors before choosing the best crowdfunding site for their specific needs.

Here are some essential guidelines on how to select the best crowdfunding platform for musicians:

• Define your project goals: Musicians must clearly understand their project scope and funding requirements before choosing a platform. Determine the specific purpose of the crowdfunding campaign, whether it’s to fund a new album, finance a music video, or support a tour. A well-defined goal will help select a platform that aligns with the project’s needs.
• Research platform fees and payment options: Different crowdfunding platforms charge various fees for using their services. Musicians should carefully review the fee structures, including platform fees, payment processing fees, and additional charges for specific features. It’s essential to choose a platform that offers transparent and reasonable costs to ensure that more of the funds raised go towards the actual project.
• Evaluate funding models: Crowdfunding platforms typically offer two primary funding models, which are all-or-nothing funding models and flexible funding models. An all-or-nothing model requires the campaign to reach its funding goal to receive the funds raised. A flexible funding model allows musicians to access whatever amount is raised, regardless of the goal. Musicians should consider their risk tolerance and the impact each funding model may have on the execution of their project.
• Examine platform and audience reach: The success of a crowdfunding campaign depends on reaching a wide and engaged audience. Research the platform’s user base, demographics, and reach. Some crowdfunding platforms have a more extensive global presence and a diverse community, which can significantly boost a campaign’s visibility.
• Review past successes: Investigate the success stories of musicians who have used the platform. Look for campaigns similar to your project and assess their achievements. High success rates and impressive fundraising outcomes are indicators of a platform’s effectiveness for musicians.
• Explore platform features: Different platforms offer various features to support campaigns, such as multimedia uploads, communication tools, and integration with social media. Musicians should prioritize platforms with features that allow them to showcase their art.
• Consider additional support: Some crowdfunding platforms offer support services or partnerships with marketing agencies that can help musicians optimize their campaigns. These other services can be valuable, especially for those new to crowdfunding or requiring expert guidance.

Remember that each platform has its strengths and may cater to different project types, so selecting the right one is essential in bringing your musical vision to life and connecting with the fanbase on a deeper level.

5 best crowdfunding sites for musicians

Using the above factors, we’ve compiled what we believe to be the top five best crowdfunding websites for musicians. We’ve included the pros and cons of each platform based on our evaluations and testimonials from musicians who have used them. We also outline some key features that make each one stand out.

Kickstarter: Best all-around crowdfunding platform

Kickstarter is a renowned crowdfunding platform that has proven successful for countless musicians. Thanks to its large and diverse user base, it boasts some of the highest success rates in the industry.

Pros:

• High success rates increase the likelihood of reaching funding goals.
• Extensive global reach expands the potential for a broad fanbase.
• The all-or-nothing funding model motivates backers to support campaigns fully.

Cons:

• A strict project approval process may lead to rejection if project guidelines aren’t met.
• Kickstarter charges a 5% fee on the funds raised, plus payment processing fees (3-5%).

Features:

• Flexible reward tiers for different contribution levels.
• Project updates and backer communication tools.
• Integration with various social media platforms for enhanced marketing.

Past Kickstarter musician success stories

There are many Kickstarter musician success stories out there.

Here are some of the most notable:

• Amanda Palmer’s second studio album, released in 2012, entitled “Theatre Is Evil,” raised over $1.2 million, surpassing its initial $100,000 Kickstarter goal.
• The Okee Dokee Brothers’ album “Through the Woods” exceeded its initial $20,000 goal and earned a Grammy nomination in 2014.

Indiegogo: Most flexible crowdfunding platform

Indiegogo offers a flexible funding model that allows musicians to keep the funds raised, even if the campaign doesn’t reach its initial goal.

Pros:

• The flexible funding option allows musicians to access funds regardless of campaign success.
• Indiegogo has a global network of contributors, expanding the campaign’s potential reach.
• Offers options for both all-or-nothing and flexible funding.

Cons:

• Indiegogo charges a 5% fee on the total funds raised for all-or-nothing campaigns, 5% for successful flexible campaigns, and payment processing fees (between 3-5%).

Features:

• Perk options for different contribution levels.
• The InDemand feature enables ongoing fundraising after the campaign’s end.
• Built-in analytics and tracking tools for campaign performance.

Past Indiegogo successes for musicians:

Indiegogo has proven successful for many musicians, including:

• The American rock band, We The Kings launched an Indiegogo campaign to fund their fourth album without a label, raising nearly $150,000, 428% of the band’s initial $35,000 goal. The album reached number two on the iTunes Overall Top Albums chart.
• Progressive rock band, The Reign of Kindo, utilized Indiegogo to fund their album, “Play with Fire.” The campaign received overwhelming support from its dedicated fanbase and music fans, resulting in a fundraising total of over $80,000.

ArtistShare: Best crowdfunding website for fan-funded projects

ArtistShare is a pioneering crowdfunding platform dedicated to fan-funded music projects. It is ideal for musicians seeking a dedicated and supportive fanbase.

Pros:

• An exclusive focus on fan-funded projects creates a community of passionate supporters.
• Musicians retain full rights to their work and have complete creative control.
• Flexible funding models are available, depending on the project’s needs.

Cons:

• The platform has a smaller user base than mainstream crowdfunding sites.
• ArtistShare charges a varying fee based on the project’s funding goal and complexity.

Features:

• Tiered memberships for fans, offering various levels of access and exclusivity.
• Customizable project pages with media uploads and progress updates.
• Collaboration tools to connect musicians with other artists.

Patreon: Best crowdfunding platform for ongoing support

Patreon is a membership-based crowdfunding platform best suited for musicians who produce regular content and seek consistent support from their fans.

Pros:

• Provides a reliable source of income through ongoing contributions.
• Artists can offer exclusive content and rewards to patrons.
• Patreon’s user-friendly interface makes it easy to engage with supporters.

Cons:

• Musicians need to produce content to maintain patron support consistently.
• Patreon charges a platform fee (depending on the membership plan) and payment processing fees (2.9-5%).

Features:

• Membership tiers with varying perks and pricing options.
• Direct messaging and community engagement features.
• Integrations with various tools for content creation and management.

Crowdcube: Best for equity crowdfunding

For musicians exploring long-term growth and business opportunities, Crowdcube offers equity crowdfunding, allowing backers to invest in exchange for a share in the musician’s business.

Pros:

• Opportunity for long-term growth and business expansion.
• Access to potential investors and business-savvy backers.
• Musicians can offer equity or rewards-based incentives to attract investors.

Cons:

• Equity crowdfunding requires legal and financial considerations.
• Crowdcube charges a 1.5-7% success fee and additional administrative fees.

Features:

• Investor relations tools and updates for shareholders.
• Compliance support for legal and financial requirements.
• Option for musicians to offer both equity and rewards-based perks.

A crowdfunding guide for musicians

Musicians should set realistic funding goals that reflect the cost of their project and the size of their fanbase. A compelling campaign page is also crucial to attract more backers and increase the chances of hitting their funding goal. Remember, when you give backers unique and valuable rewards, you often incentivize them to contribute more to the campaign.

It’s also important for crowdfunders to keep their backers informed about the project’s progress and express gratitude for their support to maintain their interest and build a sense of community.

Additionally, promoting the campaign beyond crowdfunding platforms, utilizing social media, email marketing, and personal networks can increase the chances of success. In fact, establishing a strong online presence is key to a successful crowdfunding campaign.

Musicians can achieve this by regularly posting engaging content, interacting with fans, and promoting the crowdfunding campaign through these various channels. Building a loyal fanbase involves maintaining active profiles on popular social media platforms and engaging with followers.

Partnering with influential individuals or brands can also help expand your reach and attract more backers to your campaign. Also, seeking opportunities to be featured in music blogs, online publications, or local media can increase visibility and generate interest in your crowdfunding campaign.

Here are some more specific steps a musician can take to boost their crowdfunding campaign online:

Join music and Kickstarter subreddits

Reddit is a valuable resource for crowdfunding thanks to its large community of music fans who are often willing to support and promote independent musicians. Joining subreddits such as r/WeAreTheMusicMakers, r/Music, and r/crowdfunding can help you connect with fellow musicians and potential backers.

It’s important to be genuine, provide value, and avoid excessive self-promotion when engaging with the community. Organizing AMA (Ask Me Anything) sessions can create a personal connection with the community and answer their questions about your music and crowdfunding campaign.

Participating in online music festivals or events hosted on Reddit can also help gain exposure.

Participate in online forums

Online forums like Gearslutz, Harmony Central, and TalkBass provide a platform for musicians to discuss crowdfunding strategies and seek advice. Identifying forums with dedicated sections or threads related to crowdfunding campaigns is beneficial, where you can engage with fellow musicians and share your project.

Participating in discussions, asking for feedback, and offering support to other musicians in the forum community can lead to potential collaborations and support for your campaign. Many forums allow users to include a link to their crowdfunding campaign in their forum signature, providing additional exposure to potential backers.

Always remember to familiarize yourself with the rules and guidelines of each forum to ensure respectful and constructive participation.

Join and participate in social media groups

Joining relevant Facebook groups and LinkedIn communities can provide opportunities to connect with fellow musicians, industry professionals, and potential backers. Networking with other musicians, sharing experiences, and gaining valuable insights into successful crowdfunding strategies can be achieved within these groups.

Engaging in discussions, contributing valuable content, and building relationships with other group members can lead to potential backers or supporters of your campaign. Collaborating with other musicians in the groups, such as featuring each other’s music or promoting each other’s crowdfunding campaigns, can also be beneficial.

You can use group features like events, polls, and promotions to engage with the community and promote your crowdfunding campaign.

10 Crowdfunding tips for musicians

Now that you have a more clear understanding of how crowdfunding can benefit your efforts as a musician, here are ten tips to get you started on the road to success:

Set a clear goal and realistic budget. What do you want to achieve with your crowdfunding campaign? Are you recording an album? Releasing a single? Touring? Once you know what you want to do, you can estimate how much money you’ll need.

Offer great rewards. People are more likely to donate to your campaign if they feel they’re getting something in return. Offer exclusive rewards, such as early access to your music, signed merchandise, or show tickets.

Build a strong online presence. Before launching your crowdfunding campaign, ensure you have a strong online presence. That means having a website, social media accounts, and a mailing list. You can use these platforms to promote your campaign and connect with potential supporters.

Personalize your pitch. Don’t just copy and paste a generic crowdfunding pitch. Take the time to write a personal and engaging story about your project. Explain why you’re passionate about it and what you hope to achieve.

Promote your campaign early and often. Don’t wait until your campaign launches to start promoting it. Start spreading the word early and often on your social media accounts, website, and to your subscribers. You can also reach out to other musicians, bloggers, and media outlets to get them to promote your campaign.

Use high-quality visuals and videos to capture people’s attention. People are likelier to be drawn to a crowdfunding campaign with high-quality visuals and videos. That could include professional photos of you and your band, music videos, or short behind-the-scenes clips.

Keep your campaign short and sweet. People are more likely to read a short pitch than a long one. Your crowdfunding campaign should be no more than a few pages long, and it should be easy to understand what you’re asking for and why.

Be responsive to comments and questions. Responsiveness shows potential supporters that you’re serious about your project and willing to answer their questions. You can use your crowdfunding platform’s comment section or social media to answer questions and engage with your supporters.

Thank your supporters! People are more likely to support your future campaigns if they feel appreciated. Send out thank-you emails, post shoutouts on social media, or even send out personalized gifts to your supporters.

Don’t give up. Crowdfunding campaigns can be a lot of work, but it’s important not to give up. Keep promoting your campaign, and stay positive. If you put in the effort, you’ll be more likely to reach your goal.

Crowdfunding for musicians: FAQ

Here are some of the most frequently asked questions that we receive regarding crowdfunding for musicians:

How do artists use crowdfunding?

Crowdfunding is a great way for musicians to raise money for their projects. Artists can use crowdfunding to fund anything from recording an album to touring to launching a merch line.

Here are some of the most common ways that artists use crowdfunding:

• Recording an album: Crowdfunding can be a great way to raise money to record an album. Artists can offer rewards to their supporters, such as early access to the album, signed merchandise, or show tickets.
• Touring: Crowdfunding can also be used to fund a tour. Musicians can offer perks to their supporters, such as meet-and-greets, exclusive merchandise, or backstage passes.
• Launching a merch line: Crowdfunding also be used to launch a merch line. Supporters can enjoy early access to new merch or discounts on future purchases.

How do you get funding for music?

There are a few different ways to get funding for music.

In addition to crowdfunding, artists can get funding from grants, record labels, and investors.

• Grants: There are many different grants available for musicians, and they can be used to fund various projects, such as recording an album, touring, or launching a merch line.
• Record labels: Record labels typically sign artists and help them produce and release their music.
• Investors: Investors are typically looking for projects that have the potential to be profitable.

Is crowdfunding still a thing?

Yes, crowdfunding is still a thing, and it has become increasingly popular for musicians. For example, over 64,000 music projects have been successfully launched through Kickstarter alone.

There are several reasons why crowdfunding is still a popular way for musicians to raise money, including the fact that crowdfunding is a great way to connect with fans and build a community around your music.

Other reasons include the fact that crowdfunding is often a more affordable way to fund music projects than traditional methods and offers musicians more creative control.

Crowdfunding for musicians, the bottom line

Crowdfunding has proven a powerful and transformative tool for musicians seeking to fund their creative projects and meaningfully connect with their fanbase. The benefits of crowdfunding for musicians are significant and multifaceted.

By offering financial independence, and allowing musicians to bypass traditional record labels and financial institutions, musicians can have greater control over their artistic endeavors thanks to crowdfunding, which lets them explore unique and experimental projects without the pressure of a record label.

Crowdfunding campaigns also foster direct engagement with fans, creating a sense of community and strengthening the bond between artists and their supporters. The interaction with fans during the crowdfunding process enhances the overall experience for musicians and fans alike.

Most importantly, a successful crowdfunding campaign can serve as market validation, helping musicians attract attention from industry professionals and potential collaborators. The campaign’s success is proof of concept, demonstrating an eager and supportive audience for the musician’s work.

Through crowdfunding, musicians can pre-sell their music and offer exclusive perks to entice fans to participate in the campaign, helping to fund the current project and building anticipation and loyalty among supporters for future releases.

However, choosing the right crowdfunding platform for musicians is crucial for success.

Remember to carefully evaluate each platform to make an informed decision and choose the one that best aligns with your needs and maximizes your chances of achieving your funding goals.

Among the top five best crowdfunding sites for musicians, Kickstarter stands out as an all-around platform with a large and diverse user base. At the same time, Indiegogo offers the most flexibility with its flexible funding model.

To ensure a successful crowdfunding campaign, musicians should follow key tips, such as setting clear goals, offering appealing rewards, building a strong online presence, personalizing their pitch, promoting their campaign early and often, and being responsive to their supporters.

In the ever-evolving world of music, crowdfunding remains a relevant and effective method for musicians to bring their projects to life, maintain creative independence, and foster stronger connections with their fanbase. With determination, strategic planning, and the support of their loyal followers, musicians can continue to utilize crowdfunding as a powerful tool to realize their dreams and share their talents with the world.

If you’re a musician interested in using crowdfunding on Kickstarter or Indiegogo, reach out to us at Launchboom!