Swisscom: Music promotion via Wemakeit
Swisscom is the first company to get involved with an interactive type of sponsorship for young up-and-coming talent in the music sector. Musicians can submit their projects via the crowdfunding platform wemakeit and vie for supporters.
With the "Swisscom Music Booster," Swisscom is contributing up to a third of the funding for particularly popular projects. According to the announcement, all music projects that are submitted to Wemakeit from now until December 15 can benefit.
Crowdfunding has established itself in the promotion of culture in Switzerland. This is shown by a study conducted by the Lucerne University of Applied Sciences and Arts. Since 2012, more than 800 projects have been supported with 6.5 million Swiss francs via the wemakeit platform alone. The idea: Many make something big possible through mostly small contributions. Artists first determine an amount they want to collect for their project within a certain time. The public then decides which projects it would like to support with a financial contribution. But not every project reaches its goal: On average, one in three projects fails, most of them by the second third of the funding. This is shown by the experience of the wemakeit platform.
Out of the "Valley of Tears
With a new sponsorship approach, Swisscom wants to help Swiss music talents out of the "valley of tears," as the second third of the funding is called, with a financial grant. The "crowd" decides which musicians will be given the opportunity by Swisscom to make their dream come true. The projects that are the first to receive one-third funding from fans will enter the race. In total, 20 music projects will be co-financed by Swisscom with up to 3,000 francs. In the final third of the funding, the challenge is to convince the crowd of their merits.
Swiss music talents can submit their projects to wemakeit until December 15, 2014. The prerequisite for participation is that the musicians are on average under 30 years old and come from the music areas of rock, pop, electro or urban. Music projects submitted for the " Swisscom Music Booster" will then be reviewed by wemakeit coaches and go online together on January 7. The first 20 musicians to reach one third of their funding goal will benefit from the "Swisscom Music Booster".
Announcement and conditions of participation
The sponsorship project of Swisscom and Wemakeit came about as part of a technical collaboration. Based on the software developed by Wemakeit, Swisscom launched the development of a crowdfunding platform offered to corporate customers in September 2014.
