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.

EarPods and phone

Tools: platforms to help you reach new audiences

Tools: Kaiber

In the year or so since its launch, AI startup Kaiber has been making waves,…

Read all Tools >>

Music Ally's Head of Insight

Leave a comment

Your email address will not be published. Required fields are marked *