Crowdsponsoring independent traditional music: a portuguese case study. Marketing challanges for medium-term sustainability.
Kick-Starting Media: Cultures of Funding in Contemporary Media Industries
Portuguese crowdfunding platforms operate since 2011, collecting over one million euro, but only in 2015 collaborative financing models’ legal framework was defined. Donation and rewards-based models prevail in a market where music is one of the most popular and financed categories, and an independent traditional music project got the national funding record. Performing arts reveal specificities due to their native live-ness and intangibility but also, as crowdfunding category, due to peculiar ties that can be built between creators and publics, however struggle for medium-term stability. Drawing parallelism between music production and crowdfunding campaigns, on web 2.0 scene it’s possible to count on different products release, geographical components, online / offline resources to finalize and promote single projects, including paid or not stakeholders’ efforts. To answer the question about “how a music ‘project-specific’ effective focused marketing strategy management deals with the necessity of immediate time and skills for a crowdfunding campaign and with a medium-term company’s sustainability?” the paper, sampling campaigns from the main Portuguese crowdfunding platform, uses mixed methods research including in-depth interviews with artists, producers and labels’ managers, online surveys to crowdfunders and questionnaires to publics at liveshows related with the campaigns. Arts marketing model focuses more on the product than on its adjustment to consumers' needs, according with post facto crowdfunding concept. Nevertheless crowdfunding is also seen as focused on consumers, who provide financial resources, personal support, voluntary adhesion that guarantee projects’ success, involving social capital, buzz effects, participating in pre-selling and live special events, allowing projects to achieve visibility, awareness, partners and new financing resources. Following an analytical perspective which see crowdfunding as monetary and symbolic capital transactional channel, as collective support for artistic products’ implementation and dissemination, this paper explores a range of Portuguese independent traditional music crowdfunding campaigns, their agents’ investments and perspectives, to understand the viability of crowdfunding as tool for niche music projects, and to identify successful marketing model for this sector’s medium-term sustainability.
Crowdfunding, music, Portugal