A huge interest of mine through my experiences of fandoms is how important they are for a band/brand/media to continue to exist. Duffett explains this by claiming “they form a particularly stable market” and explaining the 80-20 rule (that the fans being the 20% of the audience, create 80% of the profits) (Duffett, 2014, p. 21) . This shows the complexity of the challenges facing media when opting to fan finance, due to asking them to finance their own enjoyment, when they already do so so much.
I became a fan of Yashin after seeing the band as a support artist, and since then were planning on seeing them as headliners on their own tour. They created a fan-funding page for the release of their second album, with teasers of the tracks already recorded being made public, so that myself and other investors knew we would like the new music and want to make sure we could hear more. As I was only 14 years old at the time and only had cash funds rather than card to be able to pay online, I told my parents the money was for pre-ordering the album, and didn’t explain that if they didn’t get enough then it wouldn’t actually be released, as I knew they would not agree with the concept and therefore not let me use their card! Having little faith in ‘the system’, I knew they would be dubious about where the money may be going, much like Kustritz’s depiction of crowdfunding “creating ruptures of discontent within an otherwise hegemonic system of mutual consent” (Kustritz, 2015, p. 47) . My interest in wanting to help fund the album was partially due to wanting to have the music released and hear the full version of the songs, and partially due to having an interest in them from such an early stage in their career, I was excited to be able to say to any new fans that I has helped create that. This links to Thornton’s idea of subcultural capital and using knowledge and experiences within your niche subcategory for capital gain, be it socially, experientially or monetary (Thornton, 1995) .
Another type of fan financing that I think it is essential to consider, due to its notability and popularity on ever-growing social media platforms is fans as brand ambassadors. I would consider it a form of fan financing due to the business gaining free advertisement/publicity from fans. An example of this being reality TV star Kady McDermott launching a beauty brand and advertising on her Instagram account, where the vast majority of her fans are located, about wanting people to join the By Kady Ambassador Programme. She advertised perks such as being able to get products first, free products, working with her. While fans may have added passion as brand ambassadors, I feel it may be detrimental for the business-audience relationship for other fans, due to the added hierarchy of the fan brand ambassadors. The idea discussed by Gehring and Wittkower of those involved’s perception “that they are playing a crucial role in helping an artist” (Gehring & Wittkower, 2015, p. 69) supports this, with this level of importance being given to fans that are brand ambassadors. A friend of mine that also followed Kady, became a brand ambassador and tension/annoyance was cased due to them being a ‘fan’ still, but feeling in a position of power, like they were instead a ‘friend’ due to their interactions with Kady. I would argue that the added fan hierarchies and cultural capital created by fan-funded projects while being fine for larger brands/media, may be a downfall for smaller businesses/products due to the large fan hierarchies may intimidate or put off new fans.
Bibliography
Duffett, M. (2014). Introduction. In M. Duffett, Understanding Fandom (pp. 1-34). London: Bloomsbury.
Gehring, D., & Wittkower, D. E. (2015). On the Sale of Community in Crowdfunding: Questions of Power; Inclusion, and Value. In L. Bennet, B. Chin, & B. Jones, Crowdfunding the Future: Media Industries, Ethics & Digital Society (pp. 65-82). New York: Peter Lang Publishing Inc.
Kustritz, A. (2015). Exploiting Surplus Labours of Love: Narrating Ownership and Theft in Crowdfunding Controversies. In L. Bennett, B. Chin, & B. Jones, Crowdfunding the Future: Media Industried, Ethics & Digital Society (pp. 47-64). New York: Peter Lang Publishing Inc.
Thornton, S. (1995). Club Cultures: Music, Media and Subcultural Capital. Cambridge: Polity Press.