Embed all of your content links, Spotify page, YouTube videos, and Instagram feed to build a high-quality page featuring your content with a modern and brand-enhancing feel.
Select a project funding cap. We use a funding cap rather than a goal because our model involves using a portion of your revenue to pay fans for promotion efforts via Bandvest. This ensures the % of revenue shared does not eclipse your comfort level.
Select reward levels and rewards. We recommend fun and experiential rewards like a video conferencing private song release. Writing a song for a backer’s significant other, facetime toasts, etc. Feel free to include more traditional rewards like early release links and merch.
All project backers of $20 or more are on your street team, and Bandvest will be paying them to promote you and help you break through the noise. Choose your reward levels with this in mind.
Submit your project for review. If any adjustments are needed, someone from Bandvest support will reach out to you.
Before your page goes live, you will sign an Artist Agreement, in which you agree to share 2% of your revenue per $5,000 we raise (i.e. $25k raised = 10%), for two years starting at the end of your campaign via a letter of direction we issue with your Business Manager if you have one, or if not, a digital distributor of choice, publisher, copyright holder, etc. We use this money to act as a promotion agency for you, paying your fans to promote your content for two years. We have a cap of 20%. No matter how much we raise for you, we will never collect more than 20% of your shared revenue.
You can exclude songs and revenue streams if you wish. The typical deal will include all payouts from your distributor of choice, publisher, copyright holder, etc. If you want to exclude certain songs, we can do that as long as we know in advance and communicate it on your artist page. Please email support@bandvest.co for more information on sharing revenue for limited songs.
Your project goes live for 30-60 Days (30 days recommended)
Promote it to your fans and network! Remember, you aren’t begging them for money, you are asking them to partner with you; a fundamentally different arrangement than most crowdfunding efforts.
As you gain backers, they are immediately incentivized to share the project with their network and grow your project because they get promotion credit for downline promotion (people who clicked on their unique link and then also support your project).
The project ends, and regardless of whether or not you reach your funding cap, you will be paid 95% of the amount raised less any processing fees (average 2.5-3.5%). That money is yours to use as you see fit.
We have many partners in artist development, management, legal, production, marketing, distribution, etc we will connect you with to assist in using the funds to build a business around your art, helping you grow the music career you deserve.
Your backers become your street team (only if your project raises $2,500 or more). They are now working for you. They each have a unique promotion link they will use to promote your content for the two years following the end of your project, and we track this activity on your artist dashboard.
The more people each street team member drives to your content, the larger the percentage of the revenue you share with Bandvest they earn. The more you earn, the bigger the total amount shared with the street team becomes. They are in business with you. You are 100% aligned with your street team financially. When they work hard, you break through the noise, and when you continue to create amazing music, it makes it easier for their promotion to pay off. This is a positive feedback loop which can break you through the noise of 40k daily Spotify uploads.
The unique promotion link your street team shares with the public is directed to your Banvest Artist Page by default. You should keep this setting in place for the duration of your project so your backers can drive traffic to your project. When your project closes, you have the option to change the destination your street team is sending people via their unique link. You should alter this destination to align with your release schedule and business strategy. (Example: Spotify single on release day, YouTube video, etc)
Keep your street team informed when you change the destination of their promotion link. This may alter how they choose to drive traffic to your content.
Stay in contact with your street team, they are working for you. Include them in your release strategies, have them provide feedback for your career decisions. You are in business with them, and they are highly incentivized to help you break through the noise of online platforms and earn the career you deserve.
If you leave default settings in place, keep your latest content on the Bandvest platform, as this profile is the destination your street team will send the public to to promote your content. Some of this will be automated such as embedded Spotify and Instagram accounts, and some will require periodic updates, such as your featured images and videos.
You deliver promised rewards
You can export a backer report at any time on your project page with basic information about your backers. We will also provide a survey you can use to gain more information you may need to deliver rewards, like clothing sizes, and current mailing addresses.
Please make every effort to deliver the rewards in a timely manner, and/or remain in contact with backers to ensure they know the delivery status. This is a creative process, and we all understand creative processes can be unpredictable, but you should make every effort to deliver in a timely fashion.
See the Artist Handbook for more information on taxes and project management and delivery.
Your career blows up and we everyone wins!
What happens if you get a record deal before the two-year revenue sharing period is over?
Easy, the label pays 2x the raised amount to your street team via Bandvest, and we terminate the agreement.
In fact, even if you don’t get a record deal and just want to drop the revenue sharing agreement, you can pay 2x to the street team and the deal is over.
A record label could also decide to leave the Bandvest letter of direction in place, as it is generally not going to be significant compared to a major labels economy of scale, and the agreement drops off in two years.
