Sunday, May 2, 2010

New Way to Raise Money ONLINE! Dig This!

A music student, age 23, wanted to duplicate 1000 CDs of her new music album. She needed the funds to do it. She stumbled on the site "KICKSARTER," a year-old fund-raising site. It connects creative people in the arts and other areas with people willing to donate money, small or large, in return for services or goods. The music student offered a free CD for a donation of $30, a T-Shirt included with the album for $150, and those who gave $500 received a custom song. She ended up raising $7,400 and was able to go back in a recording studio and create yet another album. The site has many stories. The bottom line is that the site does NOT release any money to a recipient until their project has been funded according to the initial request amount. Then, the site first takes five percent of the monies raised. One film maker raised over $20,000 for a film about a fictitious congressman. Stories abound. Take a look. Interesting funding scheme. Wish it had been around when I owned my audio book publishing house in the 1990s!

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