Musicians are used to numbers that measure their success, from their position on the charts to a gig’s attendance figure. But for some the most important number now is the amount they have raised for their next project through crowdfunding.
Using the internet to put a modern spin on the traditional concept of patronage, crowdfunding has raised funding in recent years for documentary films, computer games, video installations, and, increasingly, albums. Even the federal government’s National Cultural Policy allocated $500,000 in matching funds for crowdfunding projects in any medium.
The attraction for musicians is straightforward. With record sales having decreased over the past decade due to the downloading of music and now also the advent of subscription streaming services, musicians who are still touring but no longer have the backing of a record label need to raise money to finance recording sessions.
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