20th April 2012 1 comment

Crowdfunding is nothing new, but there is a company based in Chicago that seems to add elements of social media and interaction that others don’t have.

OurLabel (https://www.ourlabel.com/) seems to have achieved the balance of serving as a crowdfunding source and allowing fans access to the artists, all the while serving as a veritable street team as users earn points by promoting the artists in different places such as Twitter and Facebook.

Should you choose to fund a project, you’re allowed special access into that particular artists “Backstage area”, which gives you special updates and exclusive content reserved only for those who have contributed to the funding of the project.

The site is very intuitive and allows easy access to your funded artists, as well as any favourite acts and upcoming events by the artists whom you’re supporting.

As we all know, the economy isn’t in the best shape currently, but you can get involved in supporting a project for as little as $5.00 or $10.00 (depending on the type of project being funded).

Essentially, if you choose to make a cup of coffee at home for one day, rather than stopping at Starbucks, you can help a band make their record.

If you’re especially passionate about a particular artist or find yourself with a bit more disposable income than normal, you can contribute any amount that works for your budget.

In return, the top promoters of any given project will “earn” 25% of sales and licensing by way of points that can be used on the OurLabel web site to “buy” merchandise, downloads, and concert tickets.

For artists, it seems pretty straightforward. As long as you aren’t currently under contract with a label, you can sign up.

Artists retain full ownership of their copyrights and the royalties are divided three ways; the artist gets 50%, OurLabel- 25%, and the fans who funded the project- 25%.

As I understand it, artist sign ups are invitation only but OurLabel do accept submissions for consideration and are looking to expand their roster.

If you’d like to look around the Our Label web site to check out some of their artists or read more about how it all works, go here https://www.ourlabel.com/.

Follow them on twitter here: https://twitter.com/OurLabel

and on facebook: https://www.facebook.com/ourlabel

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