At $837k with a week to go, Amanda Palmer is explaining to fans how she plans to spend the money raised from her Kickstarter project: $250k to pay off debts accrued so far on the project, including recording; $135k making and shipping CDs and vinyl; $80k on art books, $80k on music videos, Kickstarter’s 5% cut… “If we keep our expenses down, and keep the tour pretty practical and the video budget way down, i could probably put $100k of this in the bank personally. which would be great,” she writes. “but i might just be close to zero as i head off on tour this fall… that’s FINE with me. it’s almost even THE PLAN. if i break even on this project, i still see this as a massive win.” Her post is a valuable read. It shows one key point: smashing through a Kickstarter target increases an artist’s costs, especially when ambitious physical products are on offer. And it shows the sheer effort required to successfully run a crowdfunding project of this scale. Talking of which, the lead feature in this afternoon’s Music Ally Report will focus on exactly these issues. Watch out for it.
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