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COMBO education meeting on crowdfunding

May 1, 2014

Last Sunday, COMBO held their monthly education meeting at the Breckenridge Brewery, covering the topic of crowdfunding. On the panel were Rob Drabkin, Katey Laurel and Reed Fuchs. Rob had a successful campaign a few years ago that raised $15K. Katey has done four smaller campaigns for about $2K each. And Reed was involved in three small campaigns.

Rob Drabkin - photo by McCory James Photography (McCory.com)

Rob Drabkin – photo by McCory James Photography (McCory.com)

Rob’s campaign was done through PledgeMusic.com. He had recorded all of his songs prior to asking for money. His funds were going to be used for marketing & promotion of the music and he gave out some premiums to his supporters: concert tickets, CD’s, and a few “tickets for life.”

“I also offered to shave my head for $25K, but there were no takers.” Rob Drabkin

Rob raised over $15,000.00 (110% of the goal) with about 300 backers. He said the bigger bucks came from friends that were not in the music industry at all. He was delighted when he saw a fellow musician that actually supported him. But Rob didn’t think he acquired any new fans from this process.

Songstress Katey Laurel

Songstress Katey Laurel

Katey mostly implemented Kickstarter.com and she raised funds for recording songs and remixing some tunes with special producers. She stressed that it’s a lot of work to run a campaign and it’s as much about acquiring new fans as raising funds. Her goal is to find and engage those fans who can realistically support her.

“Finding true fans is the purpose of crowdfunding.” Katey Laurel

She talked about the overarching goal of an artist – to acquire 1000 true fans that can make you sustainable. Katey found that many of her Kickstarter supporters are investing in multiple projects with similar artists. She was able to develop some new relationships and eventually tied in with other artists’ supporters by searching for those with similar music.

Reed Fuchs

Reed Fuchs

Reed has helped a few bands make videos for their Kickstarter projects, including Dorian Vibe and his own band deCollage. His first project was for a small amount and he stressed how time consuming the effort was for him.

“I could have made more funds working at the local grocery store.” Reed Fuchs

In his opinion, this isn’t really a money making thing and he talked about keeping the process creative. If you’re not going to make a lot of coin, you might as well have fun with it…

But each of these artists had a different approach and somewhat limited experiences. Up next, we’ll see what they had to say about what was learned in the process.

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One Comment leave one →
  1. May 1, 2014 7:19 pm

    Reblogged this on Colorado Music & Radio and commented:
    Rob Drabkin, Katey Laurel, and Reed Fuchs discuss crowdfunding at recent COMBO event

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