In the April edition of Stand Out Magazine there is an interesting article titled Show me your money (pp12-14) that looks at crowd funding as a way of raising money to organise an event.
Crowd funding has been around for while now, made possible on a global scale due to websites such as Kickstarter and the Stand Out article predicts that it will become big news in the events industry in 2013.
Finding festival funding is always a difficult business – so asking the potential audience or businesses to show their support by crowd funding the event makes sense as a financial model although as the article points out there are pitfalls as well as advantages.
A crowd funding success story is Alt Fest due to take place in 2014. Using Kickstarter they asked for funding to the tune of £30,000 and so far have received over £61,000 from 593 separate backers!
We wish Alt Fest all the best for the future. All they need now is a SaddleSpan!