For my next film, the EP and I are considering a small crowdfunding campaign to round out the edges. We already have cash in the bank and a solid line to much of the rest of the budget. However, we'd love to have just a teeny bit extra to offer some extra incentives. Maybe $15K or $20K.
My experience with crowdfunding is mixed. I've had some good results and some not-so-good results, finding that no one approach can be replicated with the same results.
I'd love to hear your stories about how you all use it (if at all) for your projects.
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Michael Fitzer, MFA If you're looking for solid advice on crowdsourcing and crowdfunding for indie films, you should definitely check out Stage 32 CEO RB's book—Crowdsourcing For Filmmakers: Indie Film & the Power of the Crowd. RB interviewed hundreds of filmmakers to break down how to effectively engage your audience, build community, and leverage the power of the crowd to get your project made.
It's packed with insights and real-world strategies that are invaluable for indie filmmakers. Highly recommend!
Check it out here: https://www.amazon.com/Crowdsourcing-Filmmakers-American-Market-Presents...
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Hi Michael,
I think your expectations for crowdfunding are spot on. Most people raise around $10,000, though results depend heavily on the strength of your network. I like crowdfunding because it serves as pre-marketing for a project and can often lead to larger donations or investments as you go through the discovery process and refine your ask strategy.
My biggest piece of advice is to give yourself plenty of time to prepare and cultivate your prospects before you launch.
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I've never had luck with crowdsourcing a movie. People just couldn't care, and the finished movie as a reward just isn't enough to entice backers. The only successes I've ever had is on small-scale limited run things where funding results in getting goods in hand. Something tangible is an easy sell. A movie that you want to make isn't. I wish you all the luck in the world, some people have cracked it and know how to make it work; I couldn't.
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I hear you Brian Nguyen. The most I've ever raised is $11K and it was non-stop work for a solid month. I'm not entirely sure it is worth it, but who knows... Maybe this one will resonate.
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I also find its very helpful to be very specific on what you want to fund... i.e. funding a movie is too big for donors to feel they have an impact on and nobody cares about the cost of doing business like insurance or camera packages. Think about the elements that go into a specific scene or what you would do with that $10k that is not just for general expenses that makes the supporter feel like they are a part of the process and can visually see the results of their donation when you complete the film.
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I also agree crowdfunding is a TON of work so think about what other benefits come from this kind of funding strategy to determine if its worth the work
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I've never considered crowdfunding for films. But have any of you ever tried it for a music video? I've got a song I'll record with a group of voices and the lyrics tell a story which will require a dramatization. Budget will run in the $10-$15,000 range. I'm a greenhorn in this situation.