Though a variety of people, some of them undoubtedly well-intentioned, have criticized music crowdfunding over the last few years, their criticisms generally fall flat. Ranging from namecalling to misrepresenting financial reality, such criticisms indicate objections that are fairly limited and fail to recognize crowdfunding’s emergence as a legitimate approach to funding. One could simply reject all criticisms of music crowdfunding as beside the point as does Bemuso below. And the bottomline is that no one’s required to pledge to a campaign. But criticisms do represent claims that may pop up randomly in the course of crowdfunding and it’s nice to know why they don’t represent a credible threat to the legitimacy of all that hard work you’re doing. It’s In Bad Taste, Like Panhandling! When people attack crowdfunding with name calling, it usually reveals their misunderstanding of crowdfunding. Calling it panhandling or handouts is an attempt to give crowdfunding an air of randomness and illegitimacy. But pledge/reward-style crowdfunding as practiced on Kickstarter, Indiegogo and PledgeMusic by musicians, is an odd hybrid of presale and patronage that is based on the voluntary participation of individual supporters who typically receive a reward for their pledge. That seems neither random nor illegitimate. How […]
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