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Crowdfunding: Fans financing art

May 28, 2012

Record labels are increasingly reluctant to invest in unknowns. That means up-and-coming bands are being forced to finance their own albums. Some of them are now turning to crowdfunding as a way to launch their careers.

https://p.dw.com/p/153cN
Crowdfunding is gaining in popularity and there are now around 450 crowdfunding platforms worldwide. One of them is the Dutch platform Sellaband, which has specialized in promoting young musicians. Berge, a Berlin group, is one of Sellaband’s users. They now have a year to collect 10,000 euros from their fans - but they'll only see the funds if they collect the full amount. Filmmakers are also turning to websites such as Kickstarter to obtain funding - the Finnish sci-fi spoof "Iron Sky” is one of the best-known examples.