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Crowdfunding Conclusions

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Crowdfunding Conclusions
Posted: March 18, 2012 | Author: Rose Petterson

In the last few weeks we’ve been researching the funding method of crowdfunding and blogging our findings. We’ve been looking into where it came from, where its going and whether or not its a viable and sustainable method for filmmaker funding. These are our conclusions for using crowdfunding to fund films: A film costs a lot of money to produce and market and using crowdfunding to fund the whole thing is somewhat unrealistic and has only been done successfully on a couple of occasions Using crowdfunding as an investment model, rather than a donation model would perhaps be more viable and sustainable, in the way The Age of Stupid has done it. Overseeing your own funding (and distribution) requires a lot more personal effort and creates a lot more paperwork. Crowdfunding has been around for quite a while now, but in the last year or so has reached it’s tipping point and many crowdfunding sites have become well-known with crowdfunding becoming the new fad. Crowdfunding is becoming a little over-done, and I’m actually quite sick of people talking about it. Getting 300 funders seems to be the average for a crowdfunding campaign using a site like Kickstarter or PledgeMe It seems like there are so many crowdfunding campaigns out there for such a variety of projects types. Really how can they all be

successful? Are all these people really capable of producing what they say they will do? Is there no vetting process? It would be quite easy to make a bogus campaign and pretty much steal people’s money In order to be really successful you need to create an amazing campaign that goes viral or you need to be making a film about something that many people think is really worth seeing. Like if you wanted to make a film about political activism then that would be perfect because political activists are very passionate about what they believe and if you were their allie then they’d back you. So should we go ahead and use crowdfunding as a funding model? It seems using an investment model is more sustainable in the way that The Age of Stupid was funded, with close friends and family and like-minded people putting the money up. The public are more likely to get on board if they know who you are and have seen what you can, so perhaps using crowdfunding for distribution is a good way to start; ie once we have a product. If you can convince/provide a good argument why this film needs to be made eg. ‘we’re saving the world’, bringing environmental or political or spiritual awareness or Hollywood is producing rubbish so we’re gonna make something better than what they’re making and we’re going to do it independently from those who just care about making money, then people will just give you their money. You need to stand out from the rest of them, cos there’s so many… Create a campaign that has the ability to go viral. And find your audience. Find the blogs and sites where your potential fanbase hangs out. If it’s genre specific, that makes it a little bit easier.

Once you have an audience, make sure you’re nice to them. Keep them updated and send them cool stuff. If they like you, they’re more likely to give you more money and tell their friends good things about you. I think crowdfunding is still an option for us. We just have to be very careful to use this tool well. And use it better than how other people use it. It will require a lot of upfront effort, but if we aim to build an international audience the potential of it could be huge.

Summary
Crowdfunding is still an option for us. We just have to be very careful to use this tool well. And use it better than how other people use it. It will require a lot of upfront effort, but if we aim to build an international audience the potential of it could be huge.

Description Here are some conclusions for using crowdfunding to fund films:

*A film costs a lot of money to produce and market and using crowdfunding to fund the whole thing is somewhat unrealistic and has only been done successfully on a couple of occasions.

*Using crowdfunding as an investment model, rather than a donation model would perhaps be more viable and sustainable, in the way The Age of Stupid has done it.

*Overseeing your own funding (and distribution) requires a lot more personal effort and creates a lot more paperwork.

Tags: Crowdfunding, Crowdsourcing, Film, filmmakers, films, Independent Filmmaking, pros and cons

Posted by Fiona Mares

Mar 20, 2012 07:23 am GMT Viewed 1275 times

Author: Rose Petterson Source

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