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09/21/2012

Detour and Bandtastic Enter the Music Concert Crowdfunding Arena

bandtastic-music-concert-crowdfunding

Poster for Bandtastic Crowdfunded Concert

I've previously written about two music concert crowdfunding sites, Brazil's Queremos! and Chicago's GigFunder. Now two more entrants are getting into the game and it's starting to become a competition. But I think there's room for multiple music concert crowdfunding companies at this point given the huge range of bands doing live shows around the world.

Update : 9/28/12 - Talked to Songkick CEO Ian Hogarth about Detour earlier this week and just posted at Hypebot with more information.

Detour

Songkick, a site that combines concert info and social networking, recently test launched Detourjam, a music concert crowdfunding site. [Update: This service is still under development and will be known as Detour rather than the initial Detourjam].

Here's how it works:

Detourjam is a new way for artists to decide where they tour.

Artists tell us how many tour dates they have, you decide where they go.

Vote for your city by pledging tickets.

The first cities to reach enough pledges get the gig!

Detour seems to be focused on Europe at the moment. Currently they have two bands listed on their homepage both with European cities listed as options.

Launching Detour is a smart move for Songkick which already provides musicians with the ability to automatically publish concert dates across multiple sites. It gives them a strong position in what is essentially a two-sided market play. Fans get their apps to keep up with concerts and bands use their services to announce concerts so both sides are already being connected via Songkick.

[Update: Apparently this is an early release and there's more to come.  Stay tuned!]

Bandtastic

Bandtastic is a more established music concert crowdfunding site that's based in Mexico City. They do have plans for expanding but currently the only announced location is Guadalajara.

In an English language description that's somewhat hidden on the site, Bandtastic states:

First, all the production expenses (flights, venue rental, band fee, hotel and every detail of the production) are calculated, that's the goal fans must raise.

Fans raise the goal through small contributions. Once the goal has reached 100% the event is guaranteed to happen and traditional tickets go on sale. The fans that helped funding the event, get an entrance to the concert, plus several rewards depending of their contribution such as merchandise of the band, limited edition posters, even meet & greets with the band members or any other thing that can be valuable to the fans.

After we announce an event at bandtastic.me, the funding starts, and we have as much as 2 months to reach the goal. The funding ends, one month before the planned show date. If the goal isn't reached, fans get their money back.

According to VentureBeat, Bandtastic takes a larger role in addition to that described above:

"The proposed concerts are essentially curated by Bandtastic. Not only that, but in addition to enabling the concerts by essentially assuming the role of the promoter (for which the company takes a 10% cut), a function it acknowledges as a “necessary evil,” Bandtastic also produces concerts itself, which can quadruple its revenue share, particularly if alcoholic beverages are served."

"It also upsells products, including items such as commemorative posters, pre-show soundcheck passes, and even meals with the bands."

Bandtastic's approach will mean that it expands more slowly than other more limited music crowdfunding sites but it also means that they'll be more deeply embedded in the locations they serve. Both Bandtastic and Brazil's Queremos have booked a disproportionate number of foreign acts so they also function as crowdfunding sites for international music tours.

It will be interesting to see if bands figure out that they can organize an international tour by doing region specific concert crowdfunding across the currently available music concert crowdfunding sites.


Related Crowdfunding For Musicians Coverage:
Queremos! Brings Music Concert Crowdfunding from Brazil to the States
GigFunder: Cowgill Kicks Off First Crowdfunded Tour Plus Platform Updates
Crowdfunding For Musicians: Music Crowdfunding Sites


Crowdfunding For Musicians is authored by Clyde Smith (@crowdfundingm).