Seven Helpful Hints to Financing Your Band’s Next Recording

Summary: Seven helpful hints to financing your next recording

Before you start thinking about recording your music, you need to be aware that nothing is free. Most new bands can really only afford to pay for their equipment and musical instruments and therefore have little to no money to spend on recording costs.

1. Loans. If you do not have the money to pay for the recording upfront you may have to consider getting a loan to do so. You can do this in one of two ways:

-Go through the traditional banking system or credit cards. The downside is that interest rates can be very high.
-Use Prosper.com; You choose the loan amount that your band desires and you pay a monthly fixed rate that is distributed to your investors. Investors can then review your listing and invest in the listing if it meets their criteria.

2. Slice the pie. Slicethepie.com raises money for artists by first paying people to review and rate music and then those successful artists are able to go on and raise money for their next E.P. or album.

3. Company sponsorship. A band can try to get a business to help sponsor its recording. In return, the band will market the business, and put its logo and information on their CD’s and merchandise.

4. Ask your local college. Most colleges have recording studios that students can record in for free, or a reduced charge. Many colleges also allow musicians that are not students to record in return for a small charge; or if you are lucky, free.

5. Kickstarter.com. Post your ideas that need to be funded. Posting music on this site is a great way to start. More than one person can invest, however you need to reach your goal in the allotted time or your needed amount will not get funded.

6. Barter. You may have a talent or skill that you can trade to a recording engineer in return for getting your music recording. We have had friends that have been successful in getting free recording in return for yard work, car repair, and hauling junk to the dump.

7. Share the cost with band members. I know that this is the obvious one, but none the less it should still be mentioned. Sharing the cost amongst several band members can make the recording much cheaper for everyone.

By: Michael Landa

Michael is a Financial Consultant to Distrophonix LLC. Distrophonix LLC is a music marketing and distribution company based in Baltimore, MD. They design marketing plans for musicians, as well as offer digital distribution, CD pressing, download cards and mastering.
www.Distrophonix.com