Finance and funding for music businesses
Music sponsorship is a two-way bond between an artist (or a band) and a commercial company.
Sponsors can offer an additional source of income to help you fund your music career, in exchange for you promoting or helping to sell their products or services to your audience.
Typical music sponsorship deals may involve endorsements of, for example:
- beverages or food
- music equipment
- clothing brands
Sponsors will generally only be interested in you if you can guarantee them exposure to a wide audience. If you haven't yet established your fan base, you may not be ready to pursue a sponsorship deal. See how to develop a fan base first.
Getting sponsorship deals
Many different things go into finding and securing a sponsor. One of the main requirements is knowing who you are, and what value you can offer to the sponsor.
It is important to put together a strong case for a sponsorship deal. The following will work in your favour:
- you are selling out performances
- you are filling up venues
- you have a strong and engaged fan base - online and offline
- your YouTube videos are popular
- you have ready-to-go fan email list
- you've won public recognition and awards
All these will create your value proposition, which you will be able to pitch to the prospective sponsors.
When you are shortlisting companies to approach, it may be worth thinking about your target market, the products or services you are already using, and products and business that you can easily get behind.
Competition for sponsorships can be intense. To maximise chances of success, be very clear - show the prospective sponsors what they will gain by sponsoring you, and give them a focused marketing plan that fits with their marketing needs.