New fund launched to buy moving image work

The Art Fund in partnership with Thomas Dane Gallery has launched the Moving Image Fund for Museums in order to support the acquisition of artists’  film and video works by museums.

The first two galleries to benefit from the fund are Towner Art Gallery in Eastbourne and Whitworth Art Gallery in Manchester. The scheme, which is currently in its pilot phase, will provide £200,000 to each gallery over the next two years.

More at: www.a-n.co.uk/news

  • Published in News

How to use Crowdfunding

It seems like a great way of getting significant funding for your project and, if you read the headlines, several people have had serious success.  

Some groups have such successful crowdfunding campaigns that they over fund!  Others reach dizzying numbers which are sometimes in the millions (and why they hit the headlines).  Star Citizen, a video game, is listed as the most well-funded crowdfunding project to date.  It isn’t really an art project but it does give some indication of what is possible.  They originally set their goal at $500,000 and actually raised an eye-watering $76,100,597 ! 

But not all of them are successful and it has a lot to do with how you put your funding campaign together and what you do with it once it is running.

Here at WeLikeArtists.com we have helped fund a few projects which have caught the eye of our editor.  These were small amounts: £10, 20 50 here and there and they won’t change the world, but that is the whole point of crowdfunding - lots of relatively small amounts from lots of relatively large numbers of people.

From our own experience we know that campaigns need to get their incentives right and make sure they have the correct ‘value’.

One project we helped fund was to raise money for the installation of work in a group show of 4 artists in London.  To Fill A Void took raised £435 from 27 backers.  In real terms, a tiny campaign but, they raised the money they needed which allowed the show to take place.  Interestingly their original goal was a modest (£250) so they over funded.

Like most of these campaigns, they offered incentives and, in this case, just one.  For a £10 pledge you would receive a limited edition print made especially for the exhibition.  That made it an easy choice for the funder - £10.00 for an original limited edition print is really reasonable and you also have the added knowledge that you helped artists do something they are passionate about.

Another we funded recently was for an arts festival in Lincoln.  They also offered a single incentive:  For a pledge of £5.00 you received - their thanks.

It seems they had originally started offering a much lower starting pledge of £1.00 but no one responded.  There appears to be a perceived value here and one Pound is just too low.

To be honest, had we not known some of the people involved with this project, we would not have funded it - that isn’t really an incentive.  We gave more that the requested £5.00 but that is just because we had an ‘emotional’ connection with the project and knew what it was about.


Image: Mashable.com

It seems that much of the success for these projects is making sure you connect with, or bring with you, an audience who will take part.  According to Fundable, 24-to-35 year olds are more likely to participate in crowdfunding campaigns and men are more likely to back a campaign than women.

So, before you select your crowdfunding platform and launch your campaign, take a look at these useful expert views “5 experienced crowdfunders share their best campaign advice” over on mashable.com for tips on what to look out for, and how to maximise, your project.


For some of the more popular crowdfunding sites, take a look at other articles in our Funding section.

  • Published in Funding

It’s time for artists to get angry

An awful lot has been said about privilege in the arts: the concept of an elite class of privileged artists has become a stick with which to beat the arts sector. Most recently, Chris Bryant, shadow minister for the arts, spoke of the preponderance of artists from wealthy backgrounds to beat off criticism following Labour’s casual announcement on Twitter that it would not repeal Tory funding cuts.

More details at:  www.theguardian.com


 

 

You might also want to have a look at Paying Artists

  • Published in News

Artist Funding to See 2015 Venice Biennale

Now in its second year a-n The Artists Information Company will be supporting artists to attend the preview of the Venice Biennale. There is a VERY short deadline ( 25th February ) and this is only open to a-n members, but is well worth a look.   Almost worth becoming a member just for the opportunity to be in with a chance - a-n also offers some exceptional advice and information for artists so is well worth the membership anyway.

The artists bursaries are for a £400 contribute towards the costs of attending the 56th Venice Biennale, including the preview period of 6-8 May 2015.  The bursaries are exclusively for emerging to mid-career practitioners who hold an a-n Artist membership.

More details at: www.a-n.co.uk

  • Published in News

Kickstarter

Kickstarter was one of the pioneers in the filed of crowd funding and a model on which many other sites have been based.

They are now 105 people based in Greenpoint, Brooklyn, New York. Half work on the product (designing and coding), and the other half work with the community. They have funded over one and a half billion dollars worth of projects.

It is an "all-or-nothing" funder so, if you don't reach your target funding you don't get anything and all the pledged money goes back to the funders.  Kickstarter things this is a better way to go as it helps people focus on success and, rightly, they feel that if you only have a fraction of what you needed the end result is probably not going to be the best and you will have a crowd of frustrated funders.

You sign up to Kickstarter.com for free, put together details about your project, make a video to shout about it, decide how much funding you need and ‘publish’ it on the site

Fees

Kickstarter - 5% 

Payment processing - 3% + £0.20 per plegde

For pledges under £10.00 - 5% + £0.05 per pledge

Other countries have slightly different fees but there is a full list on the site in their frequently asked questions.

If you reach your funding target Kickstarter uses the Amazon payment system so you can have funds transferred into this account and then to a bank using Amazon's exchange rate.

For an interview with Perry Chen, one of Kickstarter's funders, which was recently published one the Economist website, visit here.

www.kickstarter.com

  • Published in Funding

Unbound

Unbound is unusual in the filed in that it is VERY specific and only funds publications.  

A crowdfunding site for writers who fancy an ‘alternative’ way of getting together with readers who might like to fund their next book! It wants to give both authors and readers a greater say in which books get published and it functions very much like many of the current, and successful, crowdfunding sites.

Authors pitch their ideas, readers pledge money and, once the potential publication has enough supporters, the book gets written and each supporter receives either an ebook version or limited edition hard or paperback.

What is interesting is that if you cough up some support you can ‘watch’ how the creative juices flow (or dribble) in an author’s private space (their 'shed') on the site.  There you can read the author’s blog, watch interviews and meet other, like-minded, supporters.

If you really fancy pushing the boat out and promise a lot of cash, then you get an invite to the book launch!!

Unsurprisingly,  Unbound was founded by three writers: Dan Kieran, Justin Pollard & John Mitchinson and is both a funding platform and a publisher, fulfilling all the normal publishing functions.

Fees

Unbound - Split a book's net profit 50/50 with the author. 

They keep worldwide or English language rights, but this can vary on a project by project basis which can be negotiated in the contract. 

 

Pitch your next publication or get your wallet out and visit www.unbound.co.uk

  • Published in Funding

RocketHub

RocketHub functions like most of the other main players in the field in that you set a funding goal, a time frame and offer your backers incentives to encourage the to help you.

They are international and can accept funds from around the world.  Payment of your funds is either by cheque (who uses those these days?) or digital transfer.  Projects can be involved with art, business, science and social initiatives but, like almost all of the sites they will not deal with charity, equity funding or anything 'illegal'.  Quite why you might want to publicly fund an illegal activity online is beyond us.

If you do not reach your funding target they will still pay you what you have raised (so not an all or nothing system), however you pay a slight penalty in that their fee for helping you is doubled to 8%.  This is normal in the field and is there to encourage you to be realistic about your goals and work to achieve them.

Fees

If you reach your funding target

RocketHub - 4%

Payment processing - 4%

If you do not reach your target

RocketHub - 8%

Payment processing - 4%

The fee is 8% of which 4.5% goes to RocketHub and 3.5% covers transaction fees.

 

When they launched they were quite enthusiastic about their Rocket analogy with much talk of launchpads and 'fuel'.  Sadly, that seems to have taken a back seat in favour for a more straightforward view of their crowd funding options.

 

www.RocketHub.com

  • Published in Funding
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