Crowd funding a Parade

David Mayfield

David Mayfield the Parade

In the last few years, a lot of artists, inventors, entrepreneurs and half-cocked dreamers have been trying their luck with crowd-funding websites like Kickstarter.

The basic idea can sound very appealing, particularly to those who can’t or don’t want to use traditional funding sources: the artist, inventor or entrepreneur takes his or her pitch for a product or a project to a website rather than go through the usual corporate or company channels. Through the Internet, they reach out to fans or a particular community and try to convince them to put their money behind the project.

It’s a very grassroots way of letting the audience decide what it’s willing to support.

Singer/songwriter David Mayfield said he doesn’t know if crowd funding is here to stay, but it sure worked for him.

“We got about twice what we were asking for,” said the Americana artist and Grammy-nominated producer, whose band, The David Mayfield Parade, comes to Huntington’s V-Club on Saturday.

Actually, Mayfield did even better than that. He set out to raise $18,000 for his second record and came up with $42,982.

The new record, “Good Man Down,” was released April 1.

Mayfield said he became interested in crowd funding after hearing about some of the successes through services like Kickstarter. Amanda Palmer of The Dresden Dolls, for instance, set a goal of $100,000 to make a record and wound up with $1.2 million.

However, Mayfield said he didn’t need to go to crowd funding to make his album.

“I had a little bit of success with that first record,” he said. “I had some opportunities with some record labels and things, but it didn’t seem like anyone was offering me anything I couldn’t do on my own if I just didn’t have a little bit of capital.”

The record companies, he explained, were willing to offer deals, but they were mostly garbage.

“It was like, we’ll throw you a little bit of money up front and take all the money down the road — and you still have to hire the publicist, and you still have to do this and still have to do that.”

So he said no and instead took his pitch to his fans. Last June, Mayfield posted his proposal and promoted it among his fans. If they wanted the record, he hoped they’d buy into his making it. The record was mostly done already, he said.

“I had the songs written,” he said. “I’d even recorded a few, so I knew what I was going to do.”

Mayfield just needed the money to hire people, finish recording and put together the album packaging.

To sweeten the pot, he offered incentives. For the casual fan, $10 earned an autographed picture of Mayfield along with a personalized thank-you or $25 netted a copy of the record plus the photo.

Serious fans could pay $1,000, which also bought them a solo, unplugged concert anywhere in the continental U.S. Mayfield even offered a premium to other musicians. For $5,000, a fan could hire him to produce their band’s album, which wasn’t too shabby, given Mayfield’s Grammy nomination (for Barry Scott & Second Wind’s “In God’s Time” win 2009).

Mayfield got the money, finished the record and has been spending a lot of time completing all those promises he made to people who supported his record.

“I feel like I’m a PBS fund drive or maybe Jerry Lewis,” he joked.
Source: WV Gazette – Bill Lynch


ForbesHow Crowdfunding Can Supercharge Your Campaign In 2016ForbesThey say that there are about 7.45 billion people living in this world right now. Imagine that if you could get each of these seven-and-a-half billion people to contribute one cent to your project, well, you know what I [...]

How Crowdfunding Has Changed the Startup GameSingularity HubCrowdfunding has become a multi-billion-dollar industry, funneling millions of dollars into thousands of projects. Technology in particular is one of the leading categories on popular fundraising platforms like Kickstarter an [...]

The GuardianCrowdfunding: the new buzzword for academics needing research moneyThe GuardianArchaeologist Dr David Petts, from Durham University, has also used crowdfunding, raising almost £25,000 to fund a project on Lindisfarne, off the Northumberland coast. The dig, in June, led to [...]

CNNMoneyDorothy's fading red slippers saved by $300000 in crowdfundingCNNMoneyThe ruby red slippers worn by Judy Garland in the beloved 1939 film "The Wizard of Oz" are set to undergo a major conservation effort following a successful crowdfunding campaign. The Smithson [...]

BloombergCouples Desperate For Children Turn to Crowdfunding FertilityBloombergCrowdfunding has become a popular mechanism for many couples who can't afford the high costs of IVF, or adoption and surrogacy. “It's not an easy thing to share publicly,” says Crystal Barrett, 33 [...]

Kiplinger Personal FinanceRaise Money for Personal Bills on Crowdfunding SitesKiplinger Personal FinanceWhile crowdfunding is often associated with business start-ups, many people are finding it a fruitful way to raise money for personal needs. Sites such as YouCaring, GoGetFunding, G [...]

AZCentral.comTiny companies lure investors under Arizona crowdfunding lawAZCentral.comInvestors who make bets under the state's one-year-old crowdfunding law certainly have the potential to get in on the ground floor, but they must be patient and might not receive any returns. Th [...]

Crowdfund InsiderCricket Batmaker Laver & Wood Set to Launch Equity Crowdfunding Campaign on PledgeMeCrowdfund InsiderLaver & Wood, a Hawkes Bay-based cricket batmaker, announced on Wednesday it is planning to launch an equity crowdfunding campaign on PledgeMe next month. The [...]

Cuba's self-proclaimed first indie game seeks crowdfunding ...VentureBeatForget about cigars — Cuba's gaming business is about to open up.and more » [...]

Huffington PostReal Estate Crowdfunding's Pathway of ChangeHuffington Post“Crowdfunding is just the Internet,” stated Attorney Mark Roderick as he opened last month's RealCap Chicago. RealCap is an annual conference that joins crowdfunding leaders and innovators to propel th [...]

CFB Finance

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |