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Written by Ramsey Brown.
One of the toughest obstacles independent artists face when establishing their music careers is not having enough money to do so efficiently. If you really want to get your music out there, there are necessary costs that come with gaining exposure.
Between paying for music equipment, marketing campaigns, promotional material, touring costs, production and recording fees, music videos, collaborations, etc. — expenses add up quickly. Yet these upfront costs are essential investments artists must make in order to launch their careers forward.
It’s common for independent musicians to seek out funding or loans in order to sustain their careers and pay their bills at the same time. However, finding music-related finance solutions to fund creative projects isn’t always easy.
Mobile payment service and financial platform, Cash App realized the financial difficulties that many upcoming creatives face; which is why they’ve recently launched Cash App Studios — a program to bankroll artists and other creatives through grant style funding.
Cash App Studios is the new joint venture between financial service companies, Cash App and Square. The project seeks to provide ‘economic empowerment’ to the creative industry by funding independent creators including artists, musicians, directors, and designers.
Rather than lending out money like a royalty, Cash App gives the money out like a grant. Meaning, artists won’t have to ever worry about paying back the funds they receive. The program is not here to replace labels, but instead is giving the option to empower DIY artists to make their own choices when the time is right.
As if free money wasn’t enough, Cash App Studios also offers creators additional help and features along with financial backing. Artists working with Cash App Studios will retain 100% ownership of their work.
This is a huge incentive for the program considering most deals require artists to give up some portion of their creative rights and freedom. With Cash App Studios, creators can receive funding without jeopardizing their brand, integrity, or future assets.
Cash App Studios has also promised to provide artists with supplies to create their work whether it be recording studios, production houses, and/or publicity teams. However, this venture is still very new so there isn’t a lot of information to back Cash App’s promises.
Nonetheless, Cash App is certainly providing artists with perks to ensure their creative work gets the recognition it deserves. The best part is that these artists maintain ownership and don’t have to pay back any funds, ever.
You are probably wondering why on earth Cash App would hand out free money to artists and creators without getting anything in return? There’s got to be a catch, right?
Cash App has been a long supporter of musicians and the creative arts. They’ve used a hip-hop influencer model that has been greatly successful in the past — partnering with artists such as Meg The Stallion for promotional content, sweepstakes, and more.
While this new endeavor is quite generous of Cash App, it is also in line with the company’s growth model and customer acquisition strategy. By working with artists and delivering great content, it heightens overall brand awareness and increases the likelihood of fans consistently using the app.
So believe it or not, there is no secret agenda behind Cash App’s new creator funding program. They are simply looking to build synergies and succeed at every modern brand’s goal today — becoming part of the culture.
Currently, the program remains to be invite-only. The musicians who have been invited in the new program will be brought in on a roling basis. Some of these artists include Grammy-winning songwriter and singer Victoria Monét, artist-producer Cristoforo Donadi, pop singer Jacquie Lee, artist Angelnumber8, rapper-producer Tyrese Pope and Texas musicians Reggie and Monaleo.
As for other artists who want to seek funding through Cash App but haven’t received an invite — fear not. There is a contact section on the website for creators to reach out and request an invite themselves.
The only thing artists have to do is prove they are worthy of all this funding in order to get the invite. So, we recommend you prepare a legit and professional proposal fully detailing why you need the funds before emailing Cash App.
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© 2023 Omari MC, LLC. All Rights Reserved.
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