Raising $450,000 in just fifty days – sounds daring, but is not impossible nowadays. Online crowdfunding has made things a lot easier for young entrepreneurs; such as independent filmmakers. In fact, it has become a growing necessity for the people in this business.
It is the combination of potentially infinite resources and the passion of independent filmmaking that has changed the tides for the future of the industry and without a doubt; we can say that the current buzz within the independent film industry is due to crowdfunding.
How crowdfunding supports the movie industry is covered in the points while answering this question.
- Things become easier: Crowdfunding makes it happen easily. What that means, especially for filmmakers, is that project funding, which is normally not easy to find, becomes attainable. After all, which is easier? Finding someone who can donate $100,000 to your project or finding 10,000 people to donate just $5? The former answer used to be was valid in olden times but nowadays, with the growth of social media, crowdfunding is the perfect answer.
- Gather Crowd: Another thing, which is of immense importance, is the gathering of the “Crowd”. More important than the money, a successful film campaign requires a good crowd and this is what helps in the continued success of an independent film. Crowdfunding campaigns help to generate an audience for the film, even before it has been shot.
- Easy Access: One of the advantages of social media is that even if your contacts are widely distributed over the globe, you still can have an easy access to them. There is an opportunity to make new contacts every time and thus, in turn, to increase your funding. Through crowdfunding and use of social media, the audience can easily follow the progress of a film too.
- Alternative method: Crowdfunding is not only helpful to new or independent filmmakers; it is also a way to create an audience for larger films. For instance, larger film productions raise a small portion of their funding in this way just to grab and attract the audience.
Few Successful Examples of Crowdfunding in the Movie Industry
- Dead Dad is a movie that used Kickstarter as a source for part of its funding and achieved almost 200 percent from this platform.
- Jing Yang, a short documentary filmmaker, used Indiegogo to raise funds for her film named My Super Valentine.
As far as blockbuster movies are concerned, they are easily funded by wealthy producers and studios backing them up every step of the way. However, crowdfunding provides crucial benefits and resources to those who do not have access to huge funding and want to enter the film making business. In other words, it is a start-up chance for independent filmmakers, especially if they have enough experience with social media to use it wisely.