Crowdfunding for Films: How Independent Filmmakers Are Funding Their Projects?

As a filmmaker, there are a lot of stories brewing in your mind. Some stories translate into scripts. But to turn a script into a theatrical release, every filmmaker requires funding. This is where most of the dreams stall. Getting funding for the film through traditional methods is tough because investors might not have faith in you. But, this isn’t the end. There are a lot of people who want to see the film being made. How do you find them? The simple answer is crowdfunding. 

So, What Is Crowdfunding Exactly?

Crowdfunding is a way of getting donations from a large number of people through an online platform. The funding model allows independent filmmakers to pitch their idea to the public and whoever likes the idea can contribute to the project. In return, the filmmaker provides crowdfunders with early access to the film, a personalized thank-you message, or some film-related merchandise. 

For a filmmaker, crowdfunding has two benefits. First, they get an audience who wants to see the film and second, they get the funding to make the film. This way, crowdfunding becomes a win-win situation for a filmmaker. 

Why Should You Crowdfund Your Films?

The crowdfunding model for funding films and web series has been really beneficial for filmmakers who have tried it. Here are some of the reasons for the same:

1. Building A Community: For first-time filmmakers or filmmakers without a large network, going for crowdfunding creates a buzz around the film. When they pitch their idea on a crowdfunding platform, they get support from people who like the idea. Then, these people talk about the film idea with their friends and family. This creates additional buzz and interest around people. When the film is completed and released eventually, you can sell a few tickets for sure. 

2. Have Creative Control: Often, when filmmakers approach producers and studios, they might get the funding. But this isn’t going to be a cakewalk at all for filmmakers. Many of these production houses want their say in casting decisions and script which means a filmmaker loses his creative control. With crowdfunding, you retain the entire creative control and still get the funding to make your vision a reality. 

3. Validates Concept: Before investing too much time and money into a project, it is important to test the waters. What if people are not interested in the idea? With the crowdfunding campaign, you can actually understand how many people are actually interested in your film. This helps you proceed accordingly with your plan. 

4. Offers Flexibility: When it comes to securing funds for a film, you can set specific targets where you cover production costs. If this is not something you want, you can even raise funds to cover the entire film. Some crowdfunding platforms offer options like “all-or-nothing” where you only get the money after you have met the set limit. Others allow you to keep any amount that is raised. 

Popular Crowdfunding Platforms

As an independent filmmaker, here are some of the ways on how you can fund your projects:

1. Kickstarter: With over 264,068 projects funded so far, Kickstarter is one of the most famous crowdfunding platforms all over the world. It follows the model of all-or-nothing funding. So, if a project campaign doesn’t meet the goal, a filmmaker does not get any of the pledged funds. This pushes the filmmaker to encourage backers to pledge funds and take the campaign to the finish line. You can raise funds for feature films, documentaries, and short films with multiple genres here. 

2. Indiegogo: What sets apart Indiegogo from Kickstarter is the fact that it offers both fixed and flexible funding models. You can retain the money that was raised even if the goal is not met. The platform also provides an additional feature called InDemand where you can raise funds even after the official fundraising period is over. 

3. Seed&Spark: With an 82% success rate and over 5000 projects on the platform, Seed&Spark is a crowdfunding platform where project backers can either help financially or lend resources and equipment. This is a film-centric crowdfunding platform that helps creators from diverse backgrounds get the support they need for their projects. 

4. Patreon: This is not your traditional crowdfunding platform. Patreon is basically a monetization platform where filmmakers can run a subscription service for their backers. Supporters can pledge a certain amount each month in return for exclusive access to content like behind-the-scenes footage. Filmmakers can even offer other perks or rewards to their subscribers. 

Conclusion

Crowdfunding is a way that offers independent filmmakers funding without relying on traditional sources. By connecting with the people who are interested in your project, you can control the creative and get the support you require. Crowdfunding does come with its own share of challenges yet it remains an important part of independent filmmaking.