Funding a music career is not easy, and raising money isn’t always second nature to many new artists. However, without money to support your studio time, marketing efforts and touring, it will be impossible to reach the heights that you want to achieve. How can you raise money behind the scenes to fund your music career now and in the future?
Donations from Family and Friends
Your friends and family are probably your biggest fans, which makes them a great resource to ask for donations. You can fundraise in person or through online services like PayPal. If you set up your fundraiser online, you also won’t need to ask people in person and cause a potentially embarrassing situation for either party. Instead, you can send out emails and texts.
Some of the most popular artists in the world have used Kickstarter and other crowdfunding sites to fund artistic endeavors, so why shouldn’t you? Crowdfunding works by setting a specific amount to raise by an end date. You can offer small rewards, like free downloads of your album or a free t-shirt, to entice donors to give more. Make sure that you understand the rules of the platform that you choose and what percentage the service will skim off the top before you get too far into the planning process.
Work with Licensing Agencies
If you already have your songs recorded and need to get additional money, you could consider licensing the songs to appear on television shows, in commercials or in movies. When you license your music, you will have access to synchronization fees and public performance royalties. When you work with a licensing agency, you can also benefit from someone lobbying on behalf of your music with companies who might love what they hear.
Every gig isn’t glamorous, but if you can find paid gigs, they can be a wonderful resource to raise money. Whether it’s jamming at your local coffee shop or singing in contests or showcases, the small amounts that you earn will add up. Playing gigs also helps you gain valuable experience playing in front of others that will help to pad your performance resume.
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