How to fund your music career in 2022

How to raise money and fund your music career

Before we go into the details, it is worth noting something.

Artists are often tempted by the temptation to get bank loans or credit cards to finance their start in their careers.

Although I am not a financial advisor, I recommend that you think very carefully before making such decisions early in your career.

Okay, now let’s get to it.

Arts Grants & Funding Schemes

Applying for an Arts Grant is one of the best and the most difficult way to fund your early music career.

Many grants and funding options are available, depending on where you live. See our list below to find out where you can apply, depending on your location.

Arts grants and funding are always highly competitive. You need to stand out from the crowd and ensure all applications are completed correctly. These tips will help you increase your chances of success.

Please read all guidelines.

Do not just send out random blanket requests. Make sure your application is tailored to meet the criteria. Before you send anything, make sure to understand the funder’s requirements fully.

Give evidence of your success and a long-term strategy.

A strong foundation is essential for funders. Describe your long-term strategy in plain English and provide evidence of your career success, including the number of fans, gig bookings and other financial backers.

Don’t complicate your application.

Use simple language that is easy to understand and explain why you are worthy of the funding.

Take your Time

Please take the time to complete your application. You should read, reread, and reread all of the guidelines and your application until you are 100% certain it meets all requirements.

Crowdfunding

Crowdfunding is the act of reaching out and engaging your existing fan base to fund your next musical project.

This tactic is used by many independent musicians, particularly those who have a dedicated fan base. This is a way to give your fans a greater stake in your career and make your music more personal.

A crowdfunding platform such as Kickstarter, Patreon, or Indiegogo is the best way to launch a campaign.

It is not worth putting effort and time into a crowdfunding campaign only to have it fail or go bust. Here are some tips to make your crowdfunding campaign a success.

Describe exactly what you are trying to accomplish.

Make sure your fans are clear about what you’re trying to achieve and set a simple goal. It doesn’t matter if they want a new album or a headline tour. Let them know what you’re giving them.

Set realistic goals.

Many crowdfunding platforms require you to choose a target funding amount. You don’t get the money if you miss that target. It’s that simple. To avoid disappointment, don’t make it impossible.

Create a campaign video.

Video messages that address your supporters and explain your crowdfunding campaign can make a big difference. This is a simple and effective way to engage and connect with your fans and explain your plans.

Provide incentives for funders.

You can give people more reasons to donate their hard-earned cash by offering incentives for donors. This could include exclusive access to gig tickets or signed merchandise. You can do whatever works best for your listeners.

Gigs & merchandise

Unsigned musicians often make the most of gig tickets and merch sales. If you want to make enough money, it is important to maximize your sales.

Avoid pay-to-play schemes.

It’s fine to play the occasional free show. It is something that every upcoming artist has done at one time or another. Pay-to-play gigs are where you’re asked to pay upfront for tickets and then sell them off, which could lead to a loss.

You can sell merchandise at every show.

As many gigs as possible, set up merchandise stands. You can sell t-shirts and vinyl, stickers, badges, and other merchandise that appeals to your customers. To attract people to your store, make it appealing attractive. This will increase sales. A souvenir is a tangible reminder of a gig. This is prime time to sell merch.

Get a card machine.

Accepting cash is a way to miss sales opportunities. It’s easy to find a cheap card machine online and will quickly give you back any sales you missed.

Offer discounts & incentives.

You can use marketing strategies such as limited-time discounts or offers to sell more merchandise. To reward loyal fans, offer lower prices for those who sign up for your mailing list and purchase tickets to your gigs.

Finally, you can start a side business.

This is a simple one. It cannot be easy to start a new career in music. To keep your finances afloat, you will likely need a side hustle.

Artists can work alongside their music. It’s a common practice for struggling artists to do it.

Keep going! Don’t quit. Keep working hard and promote yourself.

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