Putting Music in the Spotlight

Posted on Tuesday May 20th 2014

Album Artwork Mosaic

Here in Fund it towers we’ve spent the last couple of months burrowing away through data, to try and get a better insight into our fastest growing category… Music projects have been going from strength to strength, increasing by 40% in the last year alone and we want to share some of our findings with you. To do this, we’ve looked at all of the projects listed in the Music category; but music isn’t just about recording, so we’ve also looked at the music projects which crop up throughout the site, in almost every category, from gigs, festivals, videos, performances, art, books, fashion and technology. Since the first (Mr. Ebby Wires) successful music project happened on the site, music has become integral to the Fund it community. Music projects now make up over a third of all pledges on Fund it.

We know that pledges to music projects tend to be a little lower, and durations of music crowdfunding campaigns tend to be a little longer. A number of factors influence this. Notably, 60% of all recording projects on Fund it are for debut recordings, meaning a tendency to play it a little safer when crowdfunding. These types of projects reflect a younger audience demographic too. Notably, as 77% of those debut recording projects are successful, it shows that crowdfunding is a way for friends, family and fans to facilitate emerging artists to create the music they want to hear. But it is not just about the newbies though! More established artists using Fund it to record albums have seen almost a 100% success rate, showing that the direct-to-fan route can work at all points in your career.

An interesting pattern appears when we look at when Music projects are being funded. The autumn , particularly September and October are the quietest for music campaigns. December, March and July are the busiest!

As for where music projects are being successful, we see County Sligo punching above its weight, sitting in the top three counties – alongside Cork (second) and Dublin (first) – for amounts pledged to music projects. It’s clear that the musical roots are holding their own against population numbers, with Clare and Galway, which are steeped in music talent, coming in fourth and fifth on the list.

*Bonus *

We have been talking to several music project creators about their project progress, interaction with fans, and delivery of the rewards. Here’re some snippets of our interesting conversations. Want to know more? Click on this link to read the full blog post.

Julie Feeney: ‘I have been meeting my followers frequently at live shows after the campaign, and I’m so grateful that they are supportive of all the works that I’ve been involved in.’

Mister Ebby: ‘The most fun reward was the backing vocal bit… the small crew of people who came along had a blast… we ended up sampling the two kids chatting.’

Aoife Scott: ‘Knowing that people believe in you is just an incredible feeling I would definitely consider crowd funding again.’

Chequerboard: ‘It’s an enormous boost to know people believe in what you’re doing and it gives you a lot of energy and momentum that might be difficult to muster otherwise.’

– Research and writing by: Effy Yifei Yu

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