An Observation of Uk Crowdfunding
An Observation on UK Crowd Funding By C.W.Hart 07/12/12
Table of Contents: Introduction 1. What is crowdfunding? 2. Crowdfunding and the Creative Industries 3. The Methods of a good crowdfunder 4. The rise and growth of projects 5. The UK and it’s ‘crowd’ Conclusion Bibliography 3 3 5 6 7
Introduction On the 12th of October 2012, renowned Oscar-winning filmmaker David Fincher – a man who Hollywood has financed an array of treasured features such as Fight Club and The Social Network – launched a campaign on the crowd-funding website Kickstarter for his new production of a cult comic book adaptation of The Goon, requesting members, both professional and public, from all over the world on the internet to donate money towards developing a story reel for the film. Each individual that donates towards the project will gain a different benefit for pledging a certain amount of money; from a thank you and invitation to the screening, to coloured prints from the development, to joining the whole crew for the private screening and production credits. By the closing date of the 11th of November, the project managed to raise the staggering amount of $441,900, all of which is money that will not be paid back or replaced anywhere other the initial goal of the project. This success for a film using crowd funding is one of a few recent examples of how even renowned filmmakers are turning their backs on traditional studio funding and using crowd funding sources to create completely independent features. The world of crowd funding has only existed for just over half a decade, but it’s effects on the independent film market is being recognized all over the world. In this analysis, the world of crowd funding will be broken down into what the modern criteria and definition of these sites are, how they have effected the market, and what potential it has and will serve more specifically for the British film industry.
1. What is Crowd funding?
Crowd funding in its most
Table of Contents: Introduction 1. What is crowdfunding? 2. Crowdfunding and the Creative Industries 3. The Methods of a good crowdfunder 4. The rise and growth of projects 5. The UK and it’s ‘crowd’ Conclusion Bibliography 3 3 5 6 7
Introduction On the 12th of October 2012, renowned Oscar-winning filmmaker David Fincher – a man who Hollywood has financed an array of treasured features such as Fight Club and The Social Network – launched a campaign on the crowd-funding website Kickstarter for his new production of a cult comic book adaptation of The Goon, requesting members, both professional and public, from all over the world on the internet to donate money towards developing a story reel for the film. Each individual that donates towards the project will gain a different benefit for pledging a certain amount of money; from a thank you and invitation to the screening, to coloured prints from the development, to joining the whole crew for the private screening and production credits. By the closing date of the 11th of November, the project managed to raise the staggering amount of $441,900, all of which is money that will not be paid back or replaced anywhere other the initial goal of the project. This success for a film using crowd funding is one of a few recent examples of how even renowned filmmakers are turning their backs on traditional studio funding and using crowd funding sources to create completely independent features. The world of crowd funding has only existed for just over half a decade, but it’s effects on the independent film market is being recognized all over the world. In this analysis, the world of crowd funding will be broken down into what the modern criteria and definition of these sites are, how they have effected the market, and what potential it has and will serve more specifically for the British film industry.
1. What is Crowd funding?
Crowd funding in its most
Bibliography: Adams, G.-K. (2012). What is crowdfunding? Retrieved november 25, 2012, from www.startups.co.uk/what-is-crowdfunding: http://www.startups.co.uk/what-is-crowdfunding.html Buckingham, C. (2012). 8 Steps for Crowdfunding. Retrieved 12 1, 2012, from creative-choices: http://www.creative-choices.co.uk/develop-yourcareer/article/8-steps-forcrowdfunding?utm_source=newsletter115&utm_medium=email&utm_content =8+steps+for+crowdfunding&utm_campaign=newsletter#.UKtsIzwXd60.faceb ook Hughes, S. (2012, December 1). Indie films plug in to people power. The Independent Arts and Culture . How to Crowd Fund Your Film. (2012). Retrieved december 03, 2012, from Spannerfilms: http://www.spannerfilms.net/crowd_funding Kickstarter Stats. (2012, june 21). Retrieved december 5, 2012, from Kickstarter: http://www.kickstarter.com/help/stats Sørensen, I. E. (2012, September). Crowdsourcing and outsourcing: the impact of online funding and distribution on the documentary film industry in the UK. Media, Culture and Society . Thomas Lambert, A. S. (2010). An Empirical Analysis of Crowdfunding.