Are There Any Advantages Of Crowdfunding For Filmmakers?
Posted on 24 October, 2016 by Team Wishberry
Image Courtesy: Amy Clarke Films
First things first, what is crowdfunding? Crowdfunding is an innovative way for filmmakers to raise small sums of money from a large number of people, via the Internet. It’s a much more efficient way to get the money you need for your film, than getting a huge cheque cut with numerous creative restrictions from a big studio.
Why should filmmakers consider crowdfunding?
Consider this. Ravi Shankar, an Infosys employee and Sanskrit language enthusiast, wanted to make an animated film in Sanskrit based on South Indian folklore. The only problem? Animation is expensive, and he didn’t have that kind of money. Now, this is obviously a film no studio or production house would pick. What does Ravi do? He takes the film to the crowd, seeking help from the animation enthusiasts as well as Sanskrit-language loving community. In August 2015, he raised Rs. 41 lakhs from almost 300 supporters - 80% of whom are complete strangers.
“Crowdfunding worked for our film because it fit the right profile - small budget, independent spirit, and clearly no big studios were going to line up to fund a film on little known folk tales”, independent filmmaker Bhaskar Hazarika (Kothanodi) explains on why crowdfunding is THE solution for the independent filmmakers.
What are some of the greatest advantages of crowdfunding for filmmakers?
It gives complete creative control!
That’s it. What more do filmmakers want than to make a film just the way they imagined it? You want to stick to the story? Fine. You want to stay away from mass appeal? Works! You don’t want anything to do with the usual masala song and dance sequence? Perfect! You want to create something intelligent? YES! Your audience wants the same, and with their help, you can actually go ahead and do it, than be bullied by production houses.
All in all, crowdfunding basically gets you the money backed by a whole group of fans who legitimise you the power to do anything that you think is best for your film project.
Filmmakers get to build a loyal fan base
Crowdfunding is more than just crowds supporting a project. It is about crowds wanting to interact with you, get an insight into what you do and how you do it. But more than that, it's your chance to build lasting relationships with an audience that actually cares about you and your ideas. They give you the validation you need, while supporting you with funds and presence.
Excellent way to go about marketing
It helps you create a buzz in all the right places, it gets film circles talking about you, and which in turn might get the attention of the big players. There’s no way that you won’t have enough publicity by the end of a successful crowdfunding stint. Your reputation becomes something like, “here’s that guy who thought of a crazy idea, rallied the crowds to his support and made it happen”. It’s nothing short of heroic.
To put it all in one line, crowdfunding gets you the money, the fans, gets you in touch with the right people and also helps you market the film.
Is there something you’re waiting for? Submit your project today!