The Soundwave Festival is a music event that is currently seeking sponsorship after a bankruptcy last year. While crowdfunding platforms like Kickstarter and Indiegogo have been used to make tech and design projects a reality, this rock music event is being advertised with a Pozible campaign.
Soundwave Festival was a popular concert series that profiled punk rock acts but ended due to a lack of funding. An attempted resurrection of the music festival is currently underway with help from sponsors and a Pozible campaign that hopes to result in donations from fans.
While the relaunched event may be more low key than past instalments, its crowdfunding campaign makes the concert series a reality for punk fans who were sad to see it go while cutting organizers' costs in the process.
Crowdfunded Music Festivals
The Soundwave Festival Seeks Sponsorship Funding Online
Trend Themes
1. Crowdfunded Music Festivals - Opportunity for music festivals to secure funding through online crowdfunding platforms, reducing financial risks and involving fans in the process.
2. Reviving Bankrupt Events - Potential for bankrupt events to be revived through sponsorship and crowdfunding campaigns, allowing organizers to overcome financial setbacks and bring back beloved experiences.
3. Pozible Campaigns - Emergence of Pozible campaigns as a viable crowdfunding option for music events, offering a dedicated platform for fans to contribute and make concerts happen.
Industry Implications
1. Music Festivals - Disruptive innovation opportunity for music festival organizers to embrace crowdfunding as a means to secure financial support and engage with their audience.
2. Sponsorship - Potential for sponsors to support bankrupt or struggling events through partnerships and funding, creating positive brand associations and reaching targeted music enthusiasts.
3. Crowdfunding Platforms - Opportunity for crowdfunding platforms like Kickstarter and Indiegogo to expand their presence in the music industry by catering to the specific needs and demands of festival organizers and fans alike.