MusicTank: How To Get Funding For YOUR Music Project
Blog by Music Tank under Artist Managers, Creative & Branding, Finance, Law & Music Business, Live, Media, Music Publishing, Music Training & Careers, Record Labels, Recording & Production, Selling & Distributing Your Music
It’s a challenge for music companies and musicians to find the funds they require to finance their ambition. A perfect storm of constantly evolving business models in a rapidly changing music business environment, the global credit crunch and recessionary pressures on charitable and public funds have combined to make 'access to finance' a massive issue for the music industry.
Combining knowledge and experience of this topic from her time at AIM and UK Music Remi Harris’, Easy Money? The Definitive UK Guide To Funding Music Projects provides a practical and detailed answer to the frequently asked question by many musicians, artists and music companies: “How can I get funding for my music/my project?” Follow the link above to download the first chapter of the book for free.
This business has moved from being able to rely on internally funding itself - music companies funding other music companies – to having to become more reliant on external sources of funding. This guide and the convention 22nd October looks at how we can respond to this change of environment.
Six key sources of money that are most relevant and appropriate to the sector have been identified by author Remi Harris - grants, friends and family, crowdfunding, sponsorship, debt and investment – and the processes necessary to secure money.
Overviews of each are illustrated with case studies and funders have been interviewed to provide real insight into what they tend to fund and why.
The book is aimed at the majority of people in music who are artists or running small music companies or a music project, and written from a small company/individual’s perspective.
It’s borne out of a necessity to demystify funding - it’s a subject many are confused and unsure about, and unfortunately, often not prepared for. And much pre-existing work in this area has been written from either a policy or funder point of view, meaning that although informative, it is often quite one-sided.
Despite the received wisdom being that music companies should be looking for investors rather than debt finance, Easy Money? reveals that only about 1% of all pitches to investment houses receive funding. Grant funding rates are considerably higher, yet even there, a large proportion of applications fail to meet the eligibility criteria. Several other myths are busted, including the notion that crowdfunding has peaked.
The good news is that there is money out there and if you do have a good idea, the information contained within the guide and at the convention on 22nd October will give you a realistic picture of the likelihood and routes to success for getting money. Advice sessions and key figures in the industry will be available to speak to at the convention to aid your enquiries further.
Easy Money? The Convention
Tuesday 22nd October 2013, 10.00 - 16.00
The Portico Rooms, Somerset House, Strand, London, WC2R 1LA
SPECIAL OFFER FOR UNSIGNED GUIDE SUBSCRIBERS: USE PROMO CODE UNSIGNED25 for £25 off the convention. Enter the promo code when booking and the discount will be applied.
Easy Money? The Definitive UK Guide To Funding Music Projects
by Remi Harris, publ. by MusicTank, London, Sept. 2013.
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