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I wanted to make you all aware of this site (if you don't know about it already). Kickstarter is a blog style website that allows artists and musicians so solicit funding for their projects.

I think it's a pretty cool concept actually.

http://www.kickstarter.com/



(oh and yes, I just put a project on here too:
http://www.kickstarter.com/projects/acidjazzproject/lets-take-back-the-music-industry

Interesting! Thanks for posting.

-Ethan

This is fabulous! Thanks for the info.



redwing

I tried to click on your link, but there was a 404 message saying there was a glitch. Thought you would like to know.


redwing

Probably the link has that trailing ')' on it by accident..

This is a great idea. I don't mean to put a damper on things, but just be aware that raising money can require you to register with the federal Securities and Exchange Commission (SEC) and your state Securities division. Be sure that you are giving something in return for pledges (as they suggest) other than equity in your company. Most of the projects on the site are so low budget tha they would fly far under the radar as far as securities violations are concerned anyway. This is just a heads up for those raising $50,000 or more.

Thanks for the heads up, yes the link had a trailing bracket.

Here is my corrected link:

http://www.kickstarter.com/projects/acidjazzproject/lets-take-back-the-music-industry

Pledges are finally starting to come in. And I have a shorter link now as well:

Kickstarter "Take back the music industry" campaign

There has been another web site operating like this for a couple of years, called "Sellaband." it is under a lot of investigations now for not delivering on promises. Whenever you get into raising money for anything from fairly unknown or unrelated sources, you might find yourself in trouble. I would be careful in any solicitations of money. And sometimes you never know where that money is coming from.

Hope you don't get some very large individual named Tony coming by for his dividend cash. good luck.

MAB

Looks like Kickstarter is a legit way for artists to raise funds for their projects. I've actually I've seen a few well-known artists using it. I just posted a project on there myself.

http://www.kickstarter.com/projects/820320068/michael-cosner-2012-nashville-recording-project

I've contributed to three Kickstarter projects, but in each case it was for people who were known to me -- personal friends.

It's a great way of organizing support from friends and family and incipient fans. When you start getting money from strangers who want something back, you need to be careful.

There were "benefits" defined for different giving levels in the ones I gave to. Two of them included copies of CDs that were being produced with the funds, and admission to a CD release party (which were held in cities I couldn't get to easily but I appreciated the invite). The other was a writing project and I was given access to early drafts for comment.

I certainly didn't give because of the "benefits" but it is important, I think, to deliver something of perceived value.

^"Rewards" are required for every project on Kickstarter. Even strangers know exactly what they'll get in return for their contribution. That what makes it work so well.

I wish I could use it but sadly it's not still open for non usa residents

I'd go with www.indiegogo.com because with Kickstarter, if you don't reach your target, the money is returned, but with Indiegogo, you keep whatever you raise, no matter if the goal is reached. A friend of mine got $4K, not enough for her CD, but she was able to do a lot of work with it, getting the ball rolling.

That sounds like a law suit waiting to happen!

I think one of the reasons kickstarter has the rule about if the amount is not raised, it goes back, is to prevent fraud, and liability.

Imagine one needs 5,000 for a project, only raises 3,000, the project falls apart, but the person decides to use the money raised for a trip to the bahamas instead.

Im sure they have safeguards, but i'm in tune with kickstarters policy.