Here is an example of how Kickstarter works:
A band decides they do not want to go with a record label, but would rather do it themselves. However, they want to release a high-quality album, and that takes money. They find a recording studio, a producer, an engineer and sidemen, then proceed to figure out how much it will cost to complete the project. The amount of money needed would make most cash-strapped bands give up and return to crawling from record company to record company, like beggars.
Well, no more: Enter Kickstarter.
Let's say the band needs $10,000 to produce their album and do an initial pressing. They sign up with Kickstarter, create a page that explains the project, including a video that contains the band's music and an explanation on where the donated money will go.
In addition, the band creates a list of rewards, so if you pledge to the project you'll receive something above and beyond what you would have gotten if you had just bought the CD when it came out. Rewards can range from a pre-release digital version of the songs, limited edition schwag signed by the band, free concert tickets, or even a private concert in your own home. The band sets the rewards based on how much you donate to their project.
This model let's the fans pay the up front costs instead of the record companies. It's a win/win for artist and fan, but another blow to the lowly middleman.
I love it!
This playlist includes a dozen of some of the most funded musical acts to use Kickstarter so far, and something tells me this is going to continue to grow, empowering artists, providing fans with more value, and leaving corporations out in the cold, scrambling to make up lost revenue.
The Most Funded Musical Acts On Kickstarter (with total dollars raised)
1. Oasis - Amanda Palmer ($133,341)
2. Phenomenon - Thousand Foot Krutch ($105,294)
3. I'll Be Back - Julia Nunes ($77,888)
4. Under the Same Sun - Monte Pittman ($65,500)
5. Bedouin Love Song - David Broza ($65,344)
6. I Should Go - Levi Kreis ($62,726)
7. Grace Found Me - Rush Of Fools ($61,082)
8. Walls - Alma Desnuda ($55,230)
9. Be the Change - Kat Edmonson ($53,823)
10. Into My Heart - Bryan Duncan ($47,638)
11. Stand - John Schlitt ($45,160)
12. Oxygen - Tim Timmons ($44,915)
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