Over the past decade or so, music fans and artists alike have found themselves lamenting on the decline of the music industry. With new technologies developing all the time, it is now cheaper and easier for our consumerist society to access music – for free – anytime, anywhere. On the one hand, this modern lifestyle invariably means that more musicians have a much broader fan base. However, on the other hand, it is becoming an increasingly less profitable endeavour to be in a band and the argument remains that this is putting a lot of talented people off.

Even internationally recognized acts have reported a severe drop in album sales. To put things into perspective, in the nineties, a respectable number one album would reach hundreds of thousands of sales in the first week alone! Now, artists typically get tens of thousands – if they’re lucky. Obviously, there are a few exceptions to this – reality T.V. ‘stars’ for example can break the mould. However with the average British public being spoon fed their tastes by marketing machines and huge corporations, who can really blame these acts for believing that the fact that they are hailed as the ‘pinnacle of success’ could actually be attributed to anything other than a combination of factors which rarely boil down to their talent?

Of course, there is a grassroots approach to the online music world. Whilst it is more difficult to ‘make it’ and achieve the aforementioned national recognition and fame, there is arguably greater scope for success within the online community. Using Social Media platforms alongside a relentless touring schedule can really pay off – people often have loyal fans in smaller quantities all over their home city, the country, or even the world! In this sense, the Internet, the very thing which has made the music industry more difficult to enter, has actually meant that more people can achieve their dreams, at least in a small way. That same online community that can be so seemingly detrimental can also be a massive advantage – especially for when the online world is no longer enough. Many bands want to set their sights higher, and for some, this is actually a possibility.

Crowdfunding is a relatively new method being used by bands all over the world to fund their long term goals and big scale dreams. There are a few different types of crowdfunding out there currently – debt, equity and donation. They’re a little complicated, so what you mostly need to know is that in a musical sense, bands have started using the help of their loyal fans (and friends!) to participate in their financial campaigns. In simple terms, the crowd helps fund their plans.

A site which allows bands and artists to do this particularly well is Kickstarter. Platforms like this have worked at unprecedented rates for a variety of musicians, from those already known in the public sphere, to those just starting out. One relatively high profile act in the rock music industry that has resorted to the tactic is the U.S. pop-rock band Framing Hanley. When the time came to release their second album, the band realized that their day jobs weren’t going to be enough to cut it, and to give the fans the high quality recordings they expected. Setting a target of $40,000, the band turned to their fans for help, through videos and social media. They promised to use the money for the album, and that if any was left over, they’d use it for touring – something which really strengthens relationships with audiences in the scene. Publicising the fundraising efforts on Facebook, Twitter and at shows can really help – particularly if rewards are offered. It can be nice for people to just feel like they ‘did their bit’, but it’s less effective.

Framing Hanley utilized the feature offered for rewarding contributors by agreeing to give exclusive content, downloads, music lessons, private concerts and more to fans. This method is effective and adds to the sense of community, plus it gives fans an incentive for their investment. As a result, Framing Hanley smashed their goals, and despite doubts and criticism, raised over $60,000.

As with anything, there will be risks. Bands might never see their projects bloom into fruition – what happens then? Or perhaps fans might not receive the agreed rewards or return for their donations. Even in the hugely successful case of the Framing Hanley campaign, there were a few setbacks and delays. It’s important as a fan to invest your money wisely, and as a band, to act responsibly with other people’s money. Make promises you can stick to, and make sure you deliver. Sometimes, it’s important to know the risks of crowdfunding, and how they propose to regulate it here in the U.K., particularly if you expect fans to make an investment into you!

Overall, in an era where our traditional industry model has become largely outdated, but people still crave for the music they love to be made; crowdfunding seems like a happy compromise! At the end of the day, those investing have an interest in the music you want to make, so it can work in everyone’s interests – which is why it’s so great.

Claire Louise Sheridan

The views of the contributor are not necessarily those of Liverpool Sound and Vision. In the 1990s Marillion were the first to see the potential of the internet and were able to use their enormous fan base to fund recording their latest album and to get away from the power of a label.