Music Festival Uses Innovative New Funding Technique

The Electric Garden Progressive Rock Music Festival in the North West UK is using Music & Film crowdfunding site to raise finance to stage the festival.

Online PR News – 11-February-2013 – Blackpool, Lancashire – Music Festivals have struggled throughout the global financial crisis but one small event in the North West UK has used the new music and film crowdfunding platform to ensure the success of this year's festival.

Punters can pledge to buy tickets, DVD's and other packages to raise the money required to stage the festival. The platform is an 'all or nothing' system so if the money isn't raised then the festival won't happen. This takes away some of the risk to the organisers.

The festival features top progressive rock acts such as Karnataka, Comedy Of Errors, The Fierce & The Dead, IT, Nth Ascension and Counterparts (Rush Tribute Band). The festival takes place in Blackpool on May 3rd and 4th 2013.

A day after launch the festival had already raised 6% of the funding with the funding period lasting for 70 days. This method of raising finance is really catching on as the pledgers don't actually have any monies deducted from their paypal accounts unless the full total of the project is reached.

Organisers Ken Foster & Dave Blundell said: 'We wanted to try something new and this new idea for helping stage the festival really seems to have caught the imagination. We ran the festival in 2011 but although it was a great success we were always worried that enough people would turn up and support it. This way we can plan ahead and spend more time on the content of the festival instead of worrying about the money'