Money is hard to come by for all creatives across the music industry and beyond.
As a result, funding opportunities are becoming increasingly important for musicians looking to get their project off the ground. So where should you start?
Well online information for wannabe fundees is becoming easier to locate although there is still an air of mystery pervading this world. Plus competition is extremely tough. Thankfully for those looking to bankroll their project through funding, Remi Harris has recently published Easy Money? a book listing more than 100 potential funding opportunities.
Remi recently spoke at the MusicTank Easy Money? conference to discuss the key points in her book.
She said: ‘I’m optimistic about the future of funding. I’ve found that there are now many people out there looking for money and succeeding than originally thought.
‘It is an investment of time and effort and a project has to be right for a particular fund but there is a good success rate. You need to prepare yourselves for a journey but it can be one well worth taking.’
Here are Remi's top routes into funding for music industry professionals from the Easy Money? convention…
Grants
The Arts Council England and PRS for Music Foundation’s Momentum Fund is a prime example of the kind of grants currently available for musicians. You can also approach charitable foundations or business start ups. With grants, you don’t have to repay the money which makes them highly desirable.
Friends and family
The key here is how to give structure to a loan or investment which could be in danger of being too informal. You need to answer questions about whether any funding is an investment or a loan. And how do you pitch your idea to your friends? The key is getting money out of your friends while keeping them as your friends!
Crowdfunding
Crowdsourcing or crowdfunding has been around for a few years now with some notable success stories. Check out our feature from last year on the various crowdfunding opportunities and the success of US rocker Amanda Palmer. The basic concept is that an artist may want to launch a record or a new tour so asks their fanbase to financially support them. In return many musicians offer guitar lessons, provide songwriting classes or a tour of fan living rooms. It's all about funds in return for experiences.
Different sites work in different ways but the majority don’t charge you until the project is successfully launched.
Sponsorship
Potentially this is an easy way money to get from brands. However, one company I spoke to for my book said that unfortunately 90 percent of funding goes to people who don’t need it.
Money is given to allows brands to associate with a supposedly ‘cool’ band and get access to their Twitter and Facebook communities. This sort of brand relationship can work especially well with festivals and live events.
Investment
I thought there would be relatively little investment in recorded music but there is a surprising amount with event companies and live festivals. It’s a juicy area for them.
Debt finance
This area is difficult for creatives to tap into. Most people think that investment is more suitable for music companies. It’s not as easy, as success in the creative industries (and therefore the amount of risk surrounding a project) is sometimes difficult to predict.
Please visit Music Tank website to purchase a copy of Remi’s book.
As a result, funding opportunities are becoming increasingly important for musicians looking to get their project off the ground. So where should you start?
Well online information for wannabe fundees is becoming easier to locate although there is still an air of mystery pervading this world. Plus competition is extremely tough. Thankfully for those looking to bankroll their project through funding, Remi Harris has recently published Easy Money? a book listing more than 100 potential funding opportunities.
Remi recently spoke at the MusicTank Easy Money? conference to discuss the key points in her book.
She said: ‘I’m optimistic about the future of funding. I’ve found that there are now many people out there looking for money and succeeding than originally thought.
‘It is an investment of time and effort and a project has to be right for a particular fund but there is a good success rate. You need to prepare yourselves for a journey but it can be one well worth taking.’
Here are Remi's top routes into funding for music industry professionals from the Easy Money? convention…
Grants
The Arts Council England and PRS for Music Foundation’s Momentum Fund is a prime example of the kind of grants currently available for musicians. You can also approach charitable foundations or business start ups. With grants, you don’t have to repay the money which makes them highly desirable.
Friends and family
The key here is how to give structure to a loan or investment which could be in danger of being too informal. You need to answer questions about whether any funding is an investment or a loan. And how do you pitch your idea to your friends? The key is getting money out of your friends while keeping them as your friends!
Crowdfunding
Crowdsourcing or crowdfunding has been around for a few years now with some notable success stories. Check out our feature from last year on the various crowdfunding opportunities and the success of US rocker Amanda Palmer. The basic concept is that an artist may want to launch a record or a new tour so asks their fanbase to financially support them. In return many musicians offer guitar lessons, provide songwriting classes or a tour of fan living rooms. It's all about funds in return for experiences.
Different sites work in different ways but the majority don’t charge you until the project is successfully launched.
Sponsorship
Potentially this is an easy way money to get from brands. However, one company I spoke to for my book said that unfortunately 90 percent of funding goes to people who don’t need it.
Money is given to allows brands to associate with a supposedly ‘cool’ band and get access to their Twitter and Facebook communities. This sort of brand relationship can work especially well with festivals and live events.
Investment
I thought there would be relatively little investment in recorded music but there is a surprising amount with event companies and live festivals. It’s a juicy area for them.
Debt finance
This area is difficult for creatives to tap into. Most people think that investment is more suitable for music companies. It’s not as easy, as success in the creative industries (and therefore the amount of risk surrounding a project) is sometimes difficult to predict.
Please visit Music Tank website to purchase a copy of Remi’s book.
