The process of recording your first album can be overwhelming. It involves more than just getting into the recording studio and laying some fantastic tracks down. If you are going to have all that time in the recording studio in the first place, you need money to pay for studio time, and of course, cover all other recording expenses, and funds might not be readily available.
If you are struggling to figure out how to raise the money you need for your record album, there are a few resources you can put to use. However, the fundraising option(s) you choose to adopt will depend on how soon you are looking to raise the funds, and how much funds you are trying to raise.
Some recording studios charge flat hourly rates without any time minimum or other requirements. The following examples of average flat hourly rates include studio time, pre-production, mixing, and mastering:
- Tangerine in St. Paul, Minnesota: $60 per hour
- Indecent Music in Medford, Massachusetts: $45 per hour
Here are some tips to help you raise funds for your first record album.
Working For The Recording Studio
There are several jobs available in recording studios which you can do to earn money for your project. You can fit into positions as a recording engineer, assistant engineer, runner, studio technician, studio manager, bookings manager, receptionist, or something else. The pay for each position may not be enough to become rich, however, it is a good way to earn some bucks to put towards your album. The real benefit is getting familiar with the studio, making influential connections, and practicing.
Also, consider taking on handyman work at the recording studio and requesting for studio time as compensation. I was able to pay for studio time on my first album by refurbishing and developing a recording studio in a home. With no previous handyman knowledge, I was able to learn a new trade and in turn, fund my true passion. You never know what you are capable of until you try.
If making videos is your thing, you can take advantage of the several options available to earn on YouTube. As an artist, you can make money through advertisements, affiliate marketing, sponsorships, etc. If you can get up to 1000 subscribers and at least 4,000 watch hour for over 12 months, then you can apply to the YouTube Partner Program to get started.
Focus on topics that people are interested in learning. How-to videos, product reviews, documentaries, and motivational videos are in demand and a great way to captivate your audience.
Friends and Family
If you have friends and family that support your goal, do not be shy to ask them for assistance. However, if you do not want to ask them to donate for your project directly due to self-prescribed pride and anxiety, you can use a donation platform such as GoFundMe, that facilitates credit card transactions instead, and then forward emails or texts to them to inform them about it.
Friends and family want to see you succeed. If you have a true passion for music, and you put in the time to perfect your craft, people will see this as an opportunity to fund a great investment.
Small Gigs Around Town
Another way to raise money for your project is by taking on small gigs around town. Depending on where you live, you can get paid to perform original music on weekends and evening events at different venues. You may also get to cover other artists’ songs and get paid for it. This does not only help you in raising money for your album, but it will also help you in building your fan base.
Save Every Penny
You won’t reach your goal if you do not have a good saving habit in place to catch all the funds you raise for your album. You need to save as much as you can, that means that you have to be ready to delay gratifications, work hard, and finance all your recording projects from your pocket, without owing any penny. It is a long-term strategy that requires you to get more serious with savings in order to reach your goal debt-free.
In conclusion, it is not a wise idea to go into debt to record an album. Though it pays off a number of times, most people who take that route find themselves in an unhealthy spending cycle that eventually ends them in long-term financial problems. While it may be hard to put your project on hold to first raise the funds you need, it is absolutely better to pay for your recording expenses out-of-pocket than to take the seemingly quicker route with greater financial consequences.