BUILDING AN ARMY OF FANS FROM THE GROUND UP: Self-Funding p.2
LILY VASQUEZ
In only 9 months, Columbian born Lily Vasquez became the first Latin artist to raise $50,000 from 543 Sellaband “believers” to record her Latin Pop/Rock release, “Pasion de Mujer”.
Now a US resident, professional salsa dancer & TV host, Lily was the not the first of her friends to sign up with SAB - but so far only she has reached the required $50,000 mark. How did she do it- and why?
AP: How did you previously fund your recordings?
LV: I’ve been a professional musician for approximately 7 years. I recorded
my first production with someone who approached me to record a Bachata (a
Latin-Tropical genre) CD. We split the production costs 50/50 but that CD
was never distributed for sale. After that I pretty much paid to record my
own songs.
AP: Why did you decide to seek independent funding?
LV: Better control of my music and my image. Plus the music industry is a
very difficult one to reach and I found a way to raise $50,000 to record a
high quality album with the help of fans. I joined SAB and now I’m
promoting my new album ‘Pasion de Mujer’, which wouldn’t have been
possible without the help of independent funding.
AP: How did you first learn about SAB?
LV: I learned about Sellaband through a good friend, Marco. His brother’s
group, IGT joined SAB first and told him about it. Marco then convinced me
to join. At first I joined without knowing what SAB really was, until I started
seeing money being invested, then I read the entire contract and realized
this was bigger than I thought.
AP: Was the Sellaband contract easy to understand? Did you show it
to an attorney or accountant?
LV: The contract was very easy to understand. I didn’t feel the need to use
an attorney or accountant. Sellaband has always being straight forward with
all the artists, and their contract is a reflection of that and written in simple
plain English.
AP: So how does it work?
LV: Any unsigned artist can sign up with SAB. They download up to three
songs, pictures, bio, write blogs, etc. with the hopes of getting investors who
believe in their music and project. It might take months or years, but with
time relationships between believers and artists build and in many cases they
join forces to promote the artists.
Believers can invest in increments of $10, with no limit amount. For every
$10 they invest, each believer will receive a limited edition CD, which they
can keep or sell once released. For example, if anyone invested $50 in my
music, they have the right to receive 5 limited edition CDs. The believer can
decide to keep them all and sell/give away on his/her own or receive one and
let SAB sell the rest, at which point they will receive $11 once sold. This way
believers get their money back, aside from the commission they will receive
from the sale/downloads of the album.
When the artist reaches $50,000, SAB assigns an A&R representative to look
after the budget and SAB will help the artist find promoters/studios etc. to
record. In my case, I already had the producer and studio in mind, with
SAB’s clearance I was able to record my songs as I had envisioned.
Once the CD is recorded they are released for sale at iTunes, Amazon, CD
Baby, etc. The sales of the CDs are split in 3 ways, 33% are divided among
the investors, 33% goes to SAB and 33% towards the artist. Believers also
have the chance to sell CDs from their own shop page, in which case they get
10% commission. As you can see, we are all in business together. The point
is to help each other so we can all succeed.
AP: Did you look for investors outside of SAB?
LV: I reached out to friends, family, anyone I would meet. Anyone who
came my way I would direct them to my page in Sellaband and although not
everyone understood the concept, I did get a lot of investors that way.
AP: Since SAB monies are for recording costs only, how are you
promoting this release?
LV: I appeared on CNBC as well as Channel 11, NY news thanks to SAB’s
own promotions. I’m also working on my own promotions to target Latin
America so the combination of both is what’s taken me as far as I have
gotten. Also, I count on many of my believers (investors) to help me
promote my music. They are very supportive and we all understand SAB is
about helping each other to succeed.
AP: Has asking fans to invest in you changed your relationship with
your fans?
LV: Yes, I feel a huge responsibility to succeed. They invested their hard
working money in my music because they believed I had what it takes. Now
it’s the time to prove myself and repay them for their support. Also, the
relationship between us is a combination of friendship and business. I am in
constant communication with them and I have met some of them. I also
look forward to performing for all my believers in the future.
AP: Why do you think that others are willing to invest in your career?
LV: Because they found something in my music and myself that made them
believe I can make it in the industry. I am the only Latin artist to raise the
50K so I had more of a challenge since most of the investors in Sellaband do
not speak Spanish. My music somehow reached them in some way.
AP: What are the pros & cons of choosing the Sellaband route?
LV: I have complete control of my recording and music and I choose who to
work with and how to do it. Also, you gain tremendous support and
exposure by just being part of SAB, and this opens many doors that
otherwise would have been closed if you were on your own.
One of the cons is that SAB is a young company and still growing to provide
all the elements needed for an artist to succeed internationally. For example
the $50,000 does not include promotion or marketing. This is something
they are working on.
AP: Do you think that this type of program can work for any artist?
LV: It can work for anyone as long as they work hard in promoting
themselves and are disciplined to follow a plan. I joined knowing I will have
a great opportunity to record a CD and expose my music worldwide, but I
also knew it was in my hands to promote myself and take advantage of any
opportunities given to me.
AP: Will you continue raising money thru SAB or will you pursue
another source?
LV: I just released my album and it’s too early to tell. Sellaband just gained
a new investor and have lots more opportunities on their agenda. Therefore,
it’s too early to tell what will happen.
AP: Have your financial needs changed now that your record is out?
LV: As I gain more exposure I gain more opportunities, which has made my
financial needs a lot greater. At this time I’m promoting heavily in Latin
America and I know traveling to those countries can be expensive and it’s
something I have to be ready for soon. I just released my album and have 3
new band members. We’re rehearsing and getting ready for my release
parties. Also, I am looking to perform in Latin America as my music is
reaching that market.
AP: What are your career goals?
LV: I will like to break through the Latin market first and eventually be
recognized on other continents so I can make a living out music.
AP: Have you discovered any new acts on SAB? Anyone that you're
investing in?
LV: Yes, of course. There is so much talent it's hard not to invest. I believe
in so many artists just to name a few: Maitreya, Second Person, Vegas
Dragon, Mandyleigh Storm, Lori Grecco, Magnus, Tiffany Gow, Kane Sole, of
course my friend Marco, among others.
AP: What is your definition of success?
LV: Reaching your goals and setting new ones with time. Never settling for
what you have.
AP: What advice do you have for other artists seeking to self-fund
their careers?
LV: Have faith, discipline and determination. All will pay off if you believe in
yourself. The industry has changed and the Internet has given us a greater
opportunity to expose our music. Look for innovative ways to get your music
out there.
Lily Vasquez is an actress, singer, composer and professional salsa dancer.
Since arriving in the USA in 1990, Lily has sung and danced in countless parades,
festivals and other popular events. Her unique Latin Power-Pop style is influenced by
Pop, Rock, Bolero, Salsa and other styles.
For updates and info you can find Lily at:
www.lilyvasquez.com
www.sellaband.com/lily
www.myspace.com/lilycd
www.facebook.com/lilyvasquez
