Iokua Promotions

I have been aware of Kickstarter for a while now, but it was recently brought to my attention again through my Talent Management class. Kickstarter is one of the best ways for artists to get funding for their projects.

How it works

You can start a Kickstarter project to fund just about anything for you as an artist. Such as, a debut album. You set a goal amount that you feel is how much you need for funding. Your fans are your funding. They are called "backers" and you can set amounts with prizes as incentives. For example, for donating $10, the backer will get a digital copy of your album when it comes out. Theses incentives can be whatever you want and can range at any price.

Tips for starting a project

• Start a project: It can be anything you want, as long as it is reasonable and pertains to you as an artist. For example, musicians usually have a project for their debut/next album or even funding for touring.
• Setting a time frame: Usually the time is for 30 days. It can go as long as 90 days, but since todays culture is on impulse, people do things right at the moment. So extending your project for longer does not mean you will make more money.
• Setting your goal amount: Do your research. Research the costs to fund your project. It does not have to be exact, but your best estimate. Do not just throw any number out there. Keep in mind that Kickstarter does take a small percentage of your goal amount.
• Backer incentives: Get creative. Of course you want to include general things such as, a copy of the album. But you will get higher backers if you create an incentive that allows the fans to better connect with you as an artist.

This all sounds great, so whats the catch?

The only con about Kickstarter is that you have to meet the goal amount you set within the time period, or you don't get any of it. It is all or nothing.  Of course if you go over your goal amount, you get all of it, but if you go under, you don't get a penny. Don't worry, anyone who did back you doesn't pay a thing unless the project is successful and reaches its goal. Kickstarter does this because if you know your project is a $5,000 project but you only get $2,000, you fans that did back you wouldn't really want anything less than a $5,000 project.

An example project that has done well is AJ Rafael's First Full-Length Album

Kickstarter is a great opportunity for funding for new artists and can really help new starving artists, but be smart when putting the project together. Feel free to contact me if you have any questions about Kickstarter, as I have used it previously.