But tonight I wanted to write an impromptu blog to really hammer home or at least hopefully open your eyes to the world of the independent musician.
So then, why tonight of all nights? Well my friend and superb musician Greg Holden today launched an audacious fan-led initiative to fund his next record. It seems that these fan-led sponsorship deals seem to be the way forward for independent artists, but why?.
The truth is the record industry as it was, is in tatters for obvious reasons. The big labels are now finding it harder and harder to post profits, less and less large record deals are being handed to musicians and more and more are being dropped by record labels who are now more than ever 100% focused upon making each release as commercially viable and profitable as possible. Last year EMI posted an annual pre-tax loss $1.75 billion yes ok there was a huge chunk of that in write-offs but the label was forced to drop a lot of artists and I seem to recall somewhere that the company made job losses in the thousands.
On the flip side, the music industry has and is becoming more and more accessible for independent musicians. It's actually pretty easy now to record and album in your own bedroom with a few bits of decent software and some cheapish equipment, chuck it all over the internet, promote it everywhere and hopefully make a decent return, spend a little make a bit more. Not that I am for one instance suggesting you even think about doing it unless you genuinely believe you have the talent because you could always crash and burn and make a loss.
But what happens when an independent musician like Greg wants to record a proper album? There are so many costs that have to be considered, costs that in the old days, a record label would cover. I'm talking about the cost of studio time, session musicians, engineers, producers, artwork designers, CD replication and production, PR and promotion, distribution, lawyers, royalty collection services, etc, etc...all things that don't come cheap and all things that the independent musician now has to pay up front just to put a proper album out to the world...and with no guarantee of success or even a single sale. And just to put it into perspective, it probably takes somewhere in the region of $10,000 to $30,000 to produce a top notch album, you can then pretty much double the cost to add on the production, distribution, legal and promotional costs. How daunting and terrifying must that be as a musician to take that gamble? I don't think I'd sleep at night if someone asked me to lay out that kind of money of a whim. The problem is that the only tangible goods a musician has to sell is their music so they are by definition compelled to create music for sale (or give up on music and get a 9-5 job) so it's a risk that has to be taken.
So then, with a record deal either not on the table or turned down by a musician who wants to retain artistic control over their works how else do they get funding? Turn to the banks for a loan...well with the world economy in the mess it is, imagine trying to justify a bank loan of say $20,000 just for a album. Most banks...even the worst ones would probably laugh you off the premises, in fact most banks are ever reluctant at the moment to loan money to anything based in the music industry because of the transitional phase it's going through and if they do, it's small amounts, with high interest rates and ultra short terms and the banks are even demanding collateral be put up against these loans to secure them...it's madness!
Ok, so the bank is out of the question and I'm not even thinking about loan sharks or other sordid money lending services. What about parents/family? Hey Mum and Dad, I know you've supported me all my life but...can I borrow $20,000 to make a record? Unless you come from a rich family or have the most incredible parents...I think that's always going to be a struggle particularly when the majority of people around the world who earn a living are still rather tentative about their job security.
You might fancy selling stuff to fund it...but then who actually has $20,000 worth of "stuff" they can sell on ebay? Chances are if you have that much stuff, somewhere you probably have the capacity to fund a record from your own bank account.
So where else is left to turn. The most logical place is to the wider circle of people who care enough about your music who can hopefully all help in a small way...the fans.
These fan-led initatives seem to be springing up all over the place and each time I find myself feeling obligated (in the best possible way) to put my hand in my pocket and donate as generously as I can. Recently one of my other favourite singer/songwriters Jay Nash did exactly the same thing to fund his next album (which I of course felt totally compelled to support) and only last week another musician Kevin Montgomery did the same. Each of these (including Greg's) offers the fan the chance to, I guess, advance purchase the album (which offsets some of the financial risk of producing the album provided enough people advance purchase) and then going further if the finances permit to make a heartfelt donation to a great cause if they see fit in return for rewards which might include a name added to the album sleeve, hand written lyrics, phone calls, private gigs, even guitars etc, etc. It is in effect a unique offering, something you couldn't or wouldn't ordinarily get from a record label and certainly not a major one. It gives you, the fan the chance to own a piece of the record, to support a cause you believe in. I just read a comment by someone describing it as a social investment...i like that term, it sums it up beautifully, because you see, without the commitment from the fans the musician can ill-afford to take the gamble of producing a high quality album these days, so now more than ever before the musicians you know, respect and love need you!
Of course many of you might not have the cash to be able to chuck huge amounts behind an artist's project...but even the smallest amount goes a long way to helping. As much as anything it shows your commitment to that musician and you know if you can't commit financially at that time, spread the word and when the album comes out buy it, don't illegally download it.
These fan-led initiatives offer I believe a beautiful opportunity for music lovers to engage with their favourite musicians on a totally new level, to shape the music they'll listen to in the future, the music they'll hopefully tell their family and friends about, the music they'll pass on to their kids and future generations all in the knowledge that the musician has produced the album he/she/they wanted to without the creative and commercial constraints of a record label. Don't you think that's actually a really incredible thing to say you were a part of?
Times are tough I grant you, money isn't quite as free flowing as it was a few years back, the world is changing rapidly, people's attitude towards music has changed for the worse but when I look at Greg's kickstarter page and I see that in 10 hours since launching his initiative he has nearly $5,500 pledged from his family, friends and fans, it restores my faith that there are genuine music lovers still in the world who care enough to want to help and to make that difference - and if it makes me happy imagine what it does for the musician?!?!
Please go and support Greg - click here, if you haven't pledged yet.
Night all xxx
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