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MusicBee (crowdfunding)

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MusicBee (crowdfunding)

MusicBee is a crowdfunding platform focused on independent music based in Hong Kong. The company stated its mission as to gather resources and help bring independent music projects into life, providing musicians with dreams and opportunities. MusicBee has reportedly received $2 million funding over 15 music projects within one year.

People who back MusicBee projects would be offered different tangible or intangible rewards designed by the project owner, such as mp3 links, tangible CDs, souvenirs, and private concerts.

MusicBee was launched in February 2015, by artists Chet Lam Yat Fung, Fung Wing Ki Vicky, Tse Kwok Wai Victor. Musicbee reportedly raised $2 million since its launch from supporters, including the general public as well as commercial brands Levi's, Sony, Doughnut, Dr Martens, Eipiphone and MOOV.

Founder Chet Lam served as the editor of the site; accordingly, the hardworking musicians are like bees, such that the platform was named MusicBee in order to help the musician to gain honey.

MusicBee gathers money from public donors to virtually sponsor local independent artists via its crowdfunding space. Donors can support artists or musical categories, and popularize music they appreciate, which may not appeal to mainstream commercial industries. MusicBee operates similar to the American-based crowdfunding platform Kickstarter, which currently does not offer its services to Hong Kong artists, MusicBee aims to be an alternative outlet for local artists.

To launch a fundraising campaign, artists submit a creative proposal along with a deadline for the funding goal to MusicBee. There is no limit to the funding goal, but if the goal is not met by the set deadline, the project will not be funded. The "all or nothing" policy acts to balance the interest of artists and risks of donors, by encouraging donors to familiarize with the project before donating. Donors could do so through the Chat Bubble function on the site.

The process throughout the project’s publication is free of charge. A 15% administration fee, that is subject to change, will only be charged on successful fundraising campaigns; applicants who failed to reach the set funding goal will not be charged of said fee. MusicBee supports payment by credit card, Alipay or PayPal. Success is not guaranteed, but successful artists could provide donors with their products or discounts as equities for their donation.

MusicBee does not partake in the project itself, nor does it have creative control over artists. It reserves right to examine all proposals before accepting the application, some criteria being the project’s feasibility and legality of the music products.

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