Last week, the talk of the music industry was a band with a combined age of 38. Preteen Brooklyn trio Unlocking the Truth were signed to a subsidiary of Sony for a deal that was reported to be worth $1.7 million. We detailed the ways in which they probably wouldn’t wind up making all that money, even though they should be commended for being signed. And if you still don’t believe us that the band aren’t suddenly rich, then why are they crowd-funding their first EP?
The band’s EP is due out later this year, but Unlocking the Truth have teamed with PledgeMusic for a crowdfunding campaign. They’re offering a variety of premiums ranging from your name on the EP to a disposable camera with pictures taken from the studio and road all the way up to a meet and greet with tickets. Here’s why this works – none of the items available cost more than $100, with only three of them setting fans back more than $50. It appears to be paying off so far, since they’ve already sold out of vinyl EPs.
Essentially, what the band are offering is a chance for potential fans of the band to get in on the ground floor at a low price. Getting to witness a couple of kids (literally, kids) make their first music is something that will be fun to watch. Not to mention, if they’re able to record their EP without any money from Sony, that’s all the less money they’ll ultimately owe the label. Also, they’re striking while the iron’s hot and in the news. People are still mentioning Unlocking the Truth, much more positively than negatively. It all goes to show that even after striking the unsigned band lottery, the band aren’t quite rolling in cash yet, but are investing in their future.