Successful companies utilizing it are Kickstarter and Rockethub, whose co-founder Brian Meece moderated a panel at South by Southwest on Wednesday. Artists post a page suggesting a project they need funding to complete, and if fans donate for a project that gets fully funded, those fans are rewarded with CDs, merch or concert tickets depending on the amount contributed. Essentially, fans invest in musicians’ projects.
So you have thousands of Twitter followers and you're a rockstar on Facebook, how are you going to capitalize on it? That was the question mulled and answered by an expert SXSW panel moderated by Billboard's own Bill Werde.