Fan Funding

While all artists rely on their fans to buy their music and merchandise, and to come see them in concert, some rely on fans to provide the opportunity to make their music. Fan funding is when fans of a particular artist donate money to that artist in order for them to pay for recording and such necessities to release their next big thing. Although its success has been rocky, UK rockers, Gang of Four are using Pledge Music to fund the release of a new album.

What's the incentive to pledge money? Not only do you get to hear another album from one of your favorite bands, but if you pledge, you are eligible for signed albums, broken guitars, and a custom mix. If you are a fan of Gang of Four, you better not wait, because they only have 56 days left to raise 96% of their funds!

Could this be a way of the future? Instead of fans paying for the music that has already been made, they will pay for the making of music they want to hear. This could be a way to make money when fans are downloading for free, rather make them pay for the music to be created for them to download.

Source: http://www.hypebot.com/hypebot/2010/04/gang-of-four-to-fan-fund-album-via-pledge-music.html

by Rebecca Weyhrauch