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Crowdfunding changes the way filmmakers fund their movies. The power of crowdfunding helps filmmakers take control of their destinies.
Independent filmmakers like seventeen year-old Emily Hagins, who wrote, produced, directed and successfully raised more than $16,000 on IndieGoGo for her film My Sucky Teen Romance. Emily and her bedazzled laptop crowdfunded the costs of production and post-production, and now she’s considering using IndieGoGo to support distribution costs for her film. Crowdfunding is helping every step of a filmmakers’ journey but it’s up to the individual auteur to make it successful.
At Tribeca Film Festival 2011, IndieGoGo is excited to have supported three amazing films:
Since its launch in 2008, IndieGoGo has distributed millions of dollars to more than 25,000 campaigns in over 159 countries. Not only have we been a part of this magnificent crowdfunding movement but we’ve been analyzing the data closely for insights as well.
For example, our research tells us that people donate $80 on average to support an independent film. We also know that 1000s of IndieGoGo campaigns raise more than $500 while dedicated campaigns can raise significantly more. The biggest mistake a filmmaker can make is assuming they can simply upload a campaign and walk away. If they do that, they will not reach their goal. They have to be as dedicated to their crowdfunding campaign as they are to their movie. Like Jeanie Finley, whose UK campaign for her film Sound It Out raised more than $12,000 on IndieGoGo from 267 people in eight countries. Jeanie indentified her audience and developed a following that supported her all the way to SXSW. With her $12,000, Jeanie was able to finance her film, fund her trip to Austin and support marketing costs.
A solid trailer and a good premise won’t get you there on its own. But a personal, engaging video (which can help you raise 122% more funding than not having one) and including your fans throughout the entire process of your storytelling will. The beauty of crowdfunding is people want to be a part of the ride, not just the finished product. Jeanie ran three separate Sound It Out campaigns on IndieGoGo and posted 281 updates to keep contributors and potential contributors updated as to how the film was progressing, being accepted and the costs involved in making and showcasing her film. At IndieGoGo we see everything from documentaries to features to shorts…and it’s the ones who really use the share tools and involve the audience with frequent updates, total transparency, and the costs involved, who make it rain, win awards and get distribution.
Julie Gould’s short film 8 raised $3,300 and won “Best Documentary Short” at this year’s SXSW Film Festival in Austin, TX. Julie used her crowdfunds to pay for her SXSW presskit, travel, lodging and entry fees. She wasn’t at pitch meetings or meeting with bankers, she was updating her fans on IndieGoGo and raising her own capital to make her dream a reality.
So, if you’re like Julie and have a passion for film and always wanted to get involved, now is the perfect time to try. With crowdfunding, you can overcome one of the biggest hurdles in filmmaking – raising the money to do it.
Now, I’d like to share what’s working for today’s filmmakers when it comes to crowdfunding and generating excitement for their individual projects: