Guest Article by Mary Ivanova of Show4me
Show4me Music Interaction Network is a UK-based SaaS company offering a range of tools for musicians and their teams to use. We are taking a look at all the tools and ways you can leverage them to improve your music career and monetize your music.
Toolset number one. Crowdfunding.
Let’s start with the kit that most of the readers will be interested in first – crowdfunding. On Show4me, you can crowdfund music and shows.
While crowdfunding music is pretty straightforward:
- you explain what music you are trying to make/the type of album,
- your timeline,
- your financial requirements,
- set the total sum,
- invite supporters to pledge.
Once you reach your desired amount, you can request the money minus service and payment processor fees (6% by Show4me and 2.5% plus change by the payment processor).
Unlike music crowdfunding, concert crowdfunding is a more advanced tool with essentially streamlined ticket preorder – fans can purchase their ticket to your planned event before you even start producing it!
All you need in order to launch your campaign, is:
- enter your show description,
- list the number and types of tickets available,
- add cover art and promotional video,
- add a sample track or two of your music to provide your potential audience with a taste of what your show might be like,
- list your sponsors (if applicable),
- review your campaign,
- hit the submit button.
The service has a handy built-in calculator for you to set up ticket prices and fit them with your show budget:
The Confirmation point of your show is automatically calculated by the system – it adds the show budget you type in and Show4me 6% fee. The total is the amount of funds you need for the show to make sense financially. As soon as enough tickets sell to match that number, your show reaches Confirmed status on Show4me and you are prompted to set the exact date of your show.
Note: After the Confirmation point is reached, any tickets left will continue to be sold, at the full price. Tickets that are being sold initially are offered at a discounted price to make it easier to convince the fans to buy tickets with an open date. Once the show reaches its Confirmation point (meaning the minimum budget is met and the organizers can proceed with the production), ticket prices return to standard rates that are 40% higher than the discounted price (valid for each individual ticket type, e.g. $5 tickets go back to $7 and $30 tickets go back to $42).
Three event types
It’s important to note that Show4me offers 3 types of shows you can crowdfund:
- intimate concert
- private event
Show is a large event, typically held at large venues or open air areas.
Intimate concert is a smaller event for a smaller audience, often around 25-50 attendees. This type of an event can be a great opportunity for the artist to hold a small show when there are venue or local fanbase size constraints.
Private event is a small event, tickets to which are not publicly available. Only this artist’s Artist club members have access to the artist’s private event tickets. Access is also available via a code that the artist can share to desired invitees.
The Show4me crowdfunding model also takes care of the ticketing for each crowdfunded event – the pledgees get their tickets via email and the tickets are also available to download in their Show4me cabinet.
Show4me offers a complimentary free ticket scanner app for the musician and their team to scan tickets at the door.
The app syncs attendee info, like time of arrival, with the artist’s crowdfunding campaign, making analyzing attendance stats that much easier and more informed.
Toolset number two. Building a fanbase.
Each user registered on Show4me with a professional account (don’t let the name fool you though – the account is free just like having a fan account on the platform) can create an Artist club, add info about their music and career, upload music and promotional media, like music videos, photos, as well as tracks, and run the club as a place for their fans to hangout, stay up to date with the artist’s music, career and life, listen to music, buy tickets to upcoming concerts.
Being able to run your music business in a single place is an excellent opportunity to develop your fanbase without having to redirect them to multiple platforms – your fans can become as engaged with your content and activities as they like and you always know where to find them.
Your Artist club is the place for you to:
- share updates about your art, life and inspirations,
- test out new music, beats or styles,
- poll your fans on various topics (what your next single should be, where to film your next music video, what outfits to wear for your next show or even what hair color to try next),
- discuss developments in the music business,
- premiere albums, singles and EPs,
- monetize music via paid (premium) Artist club memberships and album sales,
- crowdfund gigs and music using Show4me crowdfunding toolkits for each.
Toolset number three. Music monetization.
One of the most attractive features of Show4me for musicians and their teams is the fact that when the initial stage of a show promotion during crowdfunding of a show is over, the fans can still hang around and become a part of a community around this artist.
Not only is this making it easy for the artist to sell their music and tickets to their most devoted and engaged fans easier, it also helps transform all the promotional effort they have initially invested in promoting their crowdfunding campaign, as well as drawing fans to their Artist club, is preserved and continues to bear fruit.
There are two ways music is monetized via Show4me Artist club: listens and downloads. Listens are cheaper, while downloads are set at the price per album, single or EP that the musician sets. Show4me cut from downloads is 6%, from listens – 15%.
Fans pay for listens by getting a premium membership to each individual Artist club. A year-long membership costs $1. Taking away the 15% cut, the profit seems small, but it’s still up to 300x higher than from streaming (per listen).
The full cycle.
The idea behind Show4me is providing musicians with a way to run their whole business in a single place – from building a fanbase to crowdfunding music and shows, selling music, tickets, merch, building relationships with sponsors, and touring.
A successfully launched Artist club with fans coming in to check out the content provides a great base for launching a music crowdfunding campaign for, say, a single or an EP. Next, as the musician records and releases the music, their Artist club starts to bring in more profit with more listens and album downloads.
Now it’s time to launch a concert crowdfunding campaign for a small show. Show4me private event or intimate concert format of concert crowdfunding are perfect for that. The show can be up to a few dozen tickets and shouldn’t be hard to sell out.
For the next step, the musician can launch shows with tickets that include merch, rising the profits dramatically. New music crowdfunding campaigns can help fund a new album.
As the business continues to grow, the musician can move to preselling tour tickets via concert crowdfunding, as well as finance music videos and involve sponsors.
Crowdfunding Concerts: How, Where, Who