February 15, 2011
Brazilian ‘fanfunding’ site suggests new business model for concert industry
We’re watching the idea of crowdfunding—one of our Things to Watch for 2009—manifest in interesting ways. The best example in Brazil is Queremos (which means “we want”), a recent initiative that combines collective buying with a crowdfunding music platform.
The friends behind the company were frustrated with the lack of international bands playing in Rio de Janeiro. The solution: a new business model that invites fans of a band, along with brands, to invest in bringing the show to Brazil. When the goal is achieved—i.e., the cost to bring the band is met—the investors receive partial to full refunds and free tickets. The idea is working so far, and some big acts have already played in Rio, including Miike Snow, Vampire Weekend, Belle & Sebastian, Two Door Cinema Club and Mayer Hawthorne. The latest coup is LCD Soundsystem, which plays on Thursday. Queremos intends to expand to other major Brazilian cities soon.
Various crowdfunding platforms are already focused on music, like Sellaband and PledgeMusic, but from the perspective of bands that need funds for recording, not fans looking to see their favorites performing. For brands, it seems like a great chance to show the real value of a sponsorship (several contributed to the LCD Soundsystem effort, including Jack Daniel’s and Finlandia vodka), something music fans may not normally consider.
Photo credit: www.queremos.com.br