Crowdfunding: Documentary Filmmakers' Collective

An first-timer's introduction to using Kickstarter or Indiegogo to fund an independent documentary.

Transcript

1. Crowdfunding Documentary Filmmakers’ Collective September General Meetup
2. Where can I crowdfund a film project? www.Kickstarter.com www.IndieGogo.com
3. What is crowdfunding? - Crowdfunding is exactly what it sounds like! - People come together online to fund a project. - The funding attempt can result in: - a success - a complete failure - or partial funding.
4. Both IndieGoGo & Kickstarter: - are uninvolved in the development or ownership of your project. -are free to sign up and use. - help you as a creator manage your ‘backers’ -help you promote your campaign online
6. Did you know? 2 Kickstarter-funded films have been nominated for Oscars 10% of Sundance films are funded by Kickstarter Projects with videos on their Kickstarter page are twice as likely to be fully funded. Once a project reaches 20% funding, it’s 80% more likely to succeed.
7. People will fund your project in return for incentives - These Rewards are a limited edition or one-of-a- kind items. -They must be from the actual project or its creator. - The projects that promise backers a copy of the final product get the most funding.
8. How do I determine my project’s rewards? • Copies of the thing: the soundtrack, the DVD, an HD download. Price these what they would cost at retail. • Creative collaborations: a backer is thanked in credits or on screen, personalized movie poster. • Creative experiences: a visit to the shoot, a phone call from the director, dinner with the crew, invite to screening. • Creative mementos: Polaroids sent from location, souvenir from place of filming, handwritten thank-you, meaningful tokens that tell a story.
9. How do I price my rewards? To date the most popular pledge amount is $25 and the average pledge is around $70. Small amounts are where it’s at: -projects without a reward of $20 or less succeed 28% of the time. - while projects with a reward of $20 or less succeed 45% of the time.
10. How much should I try to raise? - Set reasonable funding goals (remember you get to keep any extra $ raised) - Set stretch goals -Additional goals and rewards that every backer can get -these drive urgency and build trust with backers
11. Differences between Kickstarter & IndieGogo - all or nothing funding - 5% fee - has a documentary section - supports creative projects specifically - offers partial funding - 4-9% fee -has a lot more campaigns - supports any kind of project
13. Think Like a Marketer What picture or frame will be the cover image of your project? - something accurate, interesting and relevant.
16. Think Like a Marketer What kind of video will introduce your project? - trailer, candid explanation, or montage How often will you update the backers and page? - the more often, the better.
17. Think Like a Marketer -Reach Out to Gain Backers! -Determine your relevant interest groups or demographic. -Utilize tags and forums to put your project out there!
18. Environmental Paranormal Health Conscious Press Animal Rights Entertainment Medical Professionals Local Community History Health Organizations Zoo Local Community Press
19. How do taxes play into this? -Overall, there are no special treatment or law -Depends on who is legally “receiving the money” - you as an individual - your official film business - your official non-profit -Within a year, new legislation is expected to address crowdfunding-raised income
20. Is crowdfunding right for me? What’s the worst that could happen?
21. When Should I Start a Campaign? Set confidence. Show initiative. Be transparent. Funding can last anywhere from one to 60 days. Statistically, projects lasting 30 days or less have our highest success rates.
22. “Audiences respond to passion, sincerity, and an ability to execute. They want to see you communicate this in your video, and they want you to offer creative rewards that are fairly priced.”