Working on her new album and tour sans a label, singer Amanda Palmer of The Dresden Dolls took to crowd-funding site Kickstarter with lofty ambitions of scoring $100,000 in donations. Instead, she’s gotten a music record $375,185 from 6,662 backers in less than a day, still with 29 days to go in her campaign. The previous record was held by Five Iron Frenzy, who raised $207,980.
Palmer is a special case, as her large social media presence (half a million Twitter followers) no doubt helped push her funding over the top. In fact, as a way of giving back beyond the usual free CD or t-shirt, Palmer has launched The LoanSpark Collective, a repayment plan with “Creative Interest” for her biggest donors within an 18-month window: for pledges of $25,000 or more, Palmer will perform a private concert for the donor or a charity of the donor’s choice, and for pledges of $50,000 or more, Palmer will also contribute an original artwork.
Of course, not everyone will see these kinds of numbers, but Kickstarter has proved a viable option for indie artists: successfully funded music acts have an average financing of $5,140, more than enough to cover adequate studio time.