Crowd funding has really taken off in the last couple of years and it is a great way for entrepreneurs and filmmakers to finance their projects. There are a number of websites that have popped up recently as platforms for crowd funding, some targeting small ventures and others with a focus on movie funding. Gaining finance in this way offers a great number of benefits and means that you no longer have to rely on large sums of money being invested by a single individual or organisation. It is essentially the practise of receiving small amounts from lots of different people who all feel as though your project is worth supporting. Here are a few of the benefits that can be reaped by going down this path.
You don’t have to compete to win an elusive grant
It goes without saying that people are much more willing to hand over small amount of money than they are huge lump sums. So when you compare pitching to a bank or big investor with asking for support in small ways from like-minded people, your odds of success are far greater by pursuing the later. Furthermore it takes a lot of work, time and energy creating a grant proposal and it could all be for nothing.
You can combine it with other sources of funding
You don’t have to consider crowd funding to be your one and only method of obtaining movie funding. If you have other sources of money open to you such as credit cards or an offer from an investor then don’t feel that you have to stick to one of the other. In fact most movie producers, even on large-scale projects will secure financing from a number of sources.
You gather customers rather than profit seeking investors
Another positive is that rather than having an impatient and profit seeking investor constantly checking up on you, you will have supportive people with a genuine interest and excitement regarding the release of your production. They are also your first customers and will inevitably spread the word to like-minded people.
Easy access with minimum risk
Free marketing with simultaneous project validation
By promoting your movie to those people, from whom you are hoping to secure movie funding you are at the same time marketing your movie to a large amount of people. Furthermore every time another individual submits an amount, regardless of how small, it is providing you with a validation that you are onto a good idea that people genuinely want to see happen.