My business finance-minded friend, Adam Steffen, recently passed along an interesting article he read in the New York Times about how new solutions are emerging for how artists can fund their projects, recordings, etc. This especially piqued my interest, being I’m fresh off of eleven days as SXSW in Austin, where I overheard a variety of conversations and stories about artists using solutions such as Kickstarter to help fundraise from fans to financially support their next record.

In fact, while in Austin, I spent one afternoon catching up on things while working in a coffee shop (Highly recommended: Thunderbird Coffee at 2200 Manor Road), where I made the introduction of some cook kids in a band named, The Dead Trees. (Brief aside: The band recently spent a couple years in Portland before landing in LA, and after chatting for few minutes, it became clear that we have a handful of mutual friends. Portland’s small-world effect never ceases to amaze me!)

The Dead Trees have finished writing and recording their new album, however, they ran out of cash as they approached the mixing phase. There is a certain producer who they are hoping to hire, if their budget allows, plus after mixing, they’ll need to pay for other basics such as mastering, duplication, publicity, a digital/online marketing strategy, plus any other complimentary efforts they may need, like making a video and touring. They guys actually handed me their iPhone and headphones right there on the spot and invited me to listen to a couple of the rough mixed new songs. (Note to artists: never be too shy/proud/cool to play your music for new people!) In all honesty, I loved what I heard and if I had an extra $17k laying around, I would seriously consider funding it myself. Yes, it was THAT good. Not to mention, it doesn’t hurt that their manager also manages The Strokes…which has to open some doors along the way at some point.

The Dead Trees are using Kickstarter to raise funds for the record they’re making, asking fans to chip in and become virtual shareholders in the project. The perks of becoming a shareholder include a long list of options, depending on your support level, such as an advance copy of the record, signed 12″ vinyl, an advance copy with customized CD artwork, a home recording of a cover song of your choice, a Skype-based music lesson with any member of the band, and the top donation level allows you free admission to any and all of their shows for the rest of your life. I love the creativity and innovative places where this band’s mind is. You can check out their Kickstarter campaign page here: The Dead Trees on Kickstarter. And if you like these guys, maybe consider giving them a little boost.

At the time of this essay, the band has 67 financial supporters and is getting close to the half-way point to their $17,000 goal. Also worth noting is that the Kickstarter platform requires a timeline for all fundraising campaigns. The Dead Trees have 72 days left to raise the balance of what they need…and the real “kicker” is that if they don’t meet their goal within the fundraising campaign period, all bets are off, no money will exchange hands, and the band would be back to square one with no additional financial support. With Kickstarter, either you reach your goal or you don’t. There is no gray area.

As this crazy and unknown landscape otherwise known as the music business continues to reveal new learnings, changes and surprises in the coming months and years, I believe this fan-supported fundraising model may be something for unsigned, independent artists (that most of you!) to seriously consider. So far, I like what I see… If you can inspire and lead your fans and followers, your opportunities are endless.

Here’s a link to Friday’s New York Times article on this topic, which I recommend reading:

New York Times: You, Too, Can Bankroll A Rock Band

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