If you’re a musician trying to create a CD, by the time you pay for studio time, session musicians, cover art, and CD replication, it can put you anywhere from $3,000- $8,000 in the hole and that’s a low end CD creation. Even with a great day job, most artists don’t have that kind of money in a savings account. For those seeking funding from a potential investor, there’s virtually no assurance that the CD will sell well enough to warrant an investment.
And so, most artists feel stuck when it comes to raising money. The only option they think they have is in the form of grant money. If you’ve ever looked into grant possibilities, then you know the grant monster is a difficult beast to conquer. Often, deadlines occur a year in advance and require applicants to jump through tons of hoops even before they submit. For most grants you practically have to be a financial wizard to apply and many, though not all are awarded to mid and late career artists who have an established record in their field.
Have you raised money in creative ways? If so, I’d love to hear your comments.
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I decided to publish my book thru a vanity press so I could launch the book quickly. I did a classic Friends and Family Funding round, with an ROI on their investment promised one year down the road. Raised what I needed, book is out on my schedule. Win/win, IMHO.
ReplyDeleteThe print on demand scene isn't what it used to be.
ReplyDeleteFor creatives like musician manager, Jeri Goldstein, it was a no brainier when it came to publishing her book, "How to Be Your Own Booking Agent." It's now in it's 7th printing and it's become a staple college text within the music industry.
Or how about Richmond, slam poet, Daniel Jose Custodio, who has sold thousands of his books during the course of his live shows all over the country. He published thru Lulu.
Although most self-publishers never sell more than 250 copies. There are exceptions to the rule. More than strictly a vanity option, a lot of creatives are raking in the bucks from this very viable source of income. Anymore, it makes a perfect Passive Income product.