Songbook enables fans to invest in songs

by Startacus Admin

Songbook enables fans to invest in songs and earn royalty income with their unique music focused crowdfunding platform. Sounds good, so we took a look...

Music makers certainly can’t all rely on big producers handing them piles of money to put out their next album. Many artists have to fund their music from their own pocket, and no matter how much of that full orchestral accompaniment they cut out, any music making costs money. Even after they have recorded and produced their EP or album and are holding it in their hands, the work and expense isn’t over with. Next, they have to get it to the fans.

So what if they had a little help with that, and what if those fans were able to be a part of that help?

Crowdfunding is nothing new, but London-based startup Songbook is a unique new platform specifically built for this.

Artists raising funds through Songbook keep up to 90% of revenue, and are removed them from the fundraising process. This means that Songbook’s staff themselves, music journalists, write the campaign content and the physical rewards or incentives are removed from the equation. This levels the playing field so that the artist’s music speaks for itself and fundraising is based purely on that. An added bonus is that Songbook has the connections to potentially find placement for your music in adverts, film, TV, and games, further increasing your reach.

Songbook are aiming to disrupt the way things are typically done, much like other music tech startups we've featured, like Dublin startup Andrson a platform to help musicians thrive and for A&R to be reimagined and The Rattle, a music industry focused co-working business.

Fans who invest through the platform earn a percentage of the song’s rights revenue for up to 25 years, so not only can they help an artist they love to create more music, they can make back some money from it in the process. This comes from the likes of streaming, downloads, TV, film, games, adverts, radio, and more. The minimum investment in any one campaign is £10, with no upper limit.

Songbook launched with a partnership with the likes of Abbey Road, Believe Digital, Hoxton Vinyl, Absolute Label Services, and other big industry names. Songbook’s chairman is music industry bigwig Keith Harris, who is known for his work with Diana Ross, Stevie Wonder, and Marvin Gaye.

With names like already on board and such a promising, rewarding model, we thing Songbook is going to make a lot of noise!

Talking of crowdfunding, join our collaborative webinar with Seedrs on 15th March 2019 and hear from Seedrs about the key benefits of raising capital through equity crowdfunding.

 

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• #crowdfunding
• #music
• #music tech
• #songbook

Published on: 25th February 2019