5sing is famous for ancient style music. In 2014, crowdfunding was available online. On July 23rd2015, TheSeaing’s album —-Renjian Cihuainitiated a crowdfunding on 5sing, setting a record for the highest funds with millions yuan. In 2014, the first commemorative album —-Xi Meng, which was the first quadratic element album with ancient, dubbing, COS elements, collecting more than the target amount in a short time.
The producers included He Tu, Xiao Quer, Qi Ran and other famous ancient style musicians.The final number of supports was 4214 and it raised more than 400,000 yuan.
China Original Music Base was founded in 2004. It’s one of the earliest original
music interaction entertainment platform in China. Also, it’s the biggest platform for ancient style music, which generates lots of ancient style music studios, singers and excellent original music. In China, famous ancient style and original musicians such as He Tu, Xiao Quer and Mu Han are all popular members on 5sing.
Therefore the core content of 5sing crowdfunding is to push the commercialization of ancient style music. Recently, CMBN interviewed the crowdfunding director of 5sing —- Zhou Shiqi.
CMBN: It hasn’t been a long time for 5sing to initiate crowdfunding. Why did you enter crowdfunding in 2015?
Zhou Shiqi: Crowdfunding is one of our departments. We have lots of musicians play music on our website, including lyricists, composers, and post-production workers. They make friends online and produce songs, but most just regard it as a hobby.
Few gradually record some high quality songs, and generate popularity and fans. Sometimes, they feel it’s necessary to reward fans and make an album with some souvenirs. It’s hard to earn money for the high cost. Crowdfunding initiators sometimes even lose money.
Crowd-funding helps them to realize their dreams. There should be a technical platform. Other places are impossible, for fans are on our side. Someone once tried Taobao, but it did not work. The main modes of crowdfunding are album and show, as well as MV. They are planed by musicians. If the plan is not so good, we would help them to correct it. But the products are authentic, for we barely add any business aim or color. We mainly invest resources to support original music and help some musicians to realize their dreams.
CMBN: Who usually initiate crowdfunding on 5sing?
Zhou Shiqi: They are local people who play music on our platform, including ancient, two dimension, and Japanese and Korean style. People in three dimension barely understand them. Our website also attracts non-mainstream people, whose albums are very expensive like 100 or 200 yuan. The cheapest are 88 or 98 yuan. After raising dozens of thousands of yuan, musicians start to make album and peripherals. Some musicians, if they have money left besides the producing fee, they would add benefits to return fans. They are not aimed at making money. It’s a kind of hobby.
Not only after 90’s but after 70’s live in that world, which is different from ours. They have their own language system and culture. Most people gather on this platform for their hobby. The majorities are students and girls, as well as people doing other jobs, but they all love music creation.
On the platform, there are different fashion in different times, including academy, association, online songs, talk song and ringtone songs. Then two dimension ancient style became popular. It might be Japanese cover version songs in the next stage.
CMBN: What do you think of the development of music crowdfunding in China?
Zhou Shiqi: Basically, crowdfunding is about pre-sale now. It’s only a concept. If a
platform only has a single function of crowdfunding, it’s meaningless. There’s no ecological basis for popularity.
This is the problem of chicken and egg. In fact, chicken may not lay eggs, like Taobao also has users. The most important thing is ecology. It’s difficult for a transplanted tree to live. It’s not enough for the forest to merely have plantation. There should be shrubs, conifers, and the weeds, which ensure a colorful and rich ecology. It is not formed in a single day and it’s not about spending money on transplanted trees.
I’m from zero to one, and now have others, including the acquisition of Kugou. There will be nothing, if you don’t have zero to one.
CMBN: What are problems that you meet in music crowdfunding?
Zhou Shiqi: I think we are too anxious. People outside the business do not know the efforts from zero to one. Though everything starts after one, but the problem is that
it’s hard to walk across zero to one. We spend eight years on original base and eleven years on original music platform. The difficulties are hard to image.
Now, people are too impetuous about music crowdfunding. As for platforms, people all want to make a flag by it and generate followers. People who do contents also want to use crowdfunding to attract people and produce music. They are also impetuous.
Finally, music crowdfunding is not about dream but completely business. However, fans are not willing to pay for such pre-sale business mode. They are not silly.
Now, music crowdfunding is very simple. It’s still unknown whether this business is able to grow big, but by now the market is limited. Crowdfunding in China has outbreak, but music crowdfunding and crowdfunding are different. Crowdfunding has stock equity and rewords. However, music crowdfunding only helps a group of people to realize their dreams.
There are also people who work hard. When other people notice them, they already have experience of two to three years and start to do the next product in music market. Now, people only do vertical business with the present platform concept, and do not see the future market.
“The diversification in the industry is becoming increasingly important. Investors need to have deep industrial knowledge and back标签：exclusive interview, investor, Toutoushidao Capital 2017-12-18
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