Fwd: Bulletin #15: Crowdfunding Takes Off

[clay...@aol.com]

-----Original Message-----
From: Peter Broderick <distributi...@peterbroderick.com>
To: Clay Heery <clay...@aol.com>
Sent: Fri, Feb 25, 2011 3:19 am
Subject: Bulletin #15: Crowdfunding Takes Off

THE DISTRIBUTION BULLETIN
BULLETIN #15 2-25-11

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CROWDFUNDING TAKES OFF

Crowdfunding has taken off. The most successful film projects are now
raising hundreds of thousands of dollars, when not that long ago they
were raising tens of thousands. The top three films in the Kickstarter
Hall of Fame are BLUE LIKE JAZZ ($345,992), THE PRICE ($161,774), and I
AM I ($111,965).

Unlike BLUE LIKE JAZZ and THE PRICE which are both based on material
written by authors with large and loyal followings, I AM I is an
excellent example of how to build support for an original script. After
seeing my presentations on crowdfunding, writer-director Jocelyn Towne
and her producers Cora Olson and Jen Dubin from Present Pictures (GOOD
DICK) convinced an investor to match up to $100,000 in donations. They
built a solid website, calibrated their reward levels, planned the
stages of their campaign, and created a great video. Done in one long
carefully choreographed take, viewer's found this humorous video
irresistible.

They began their 38-day effort on Kickstarter through their personal
networks. Jocelyn spent the month before the campaign drafting
individual emails to everyone she knew and saved them for launch day.
On Twitter, 40,000 people were following her actor/husband Simon
Helberg (featured in the hit TV show, THE BIG BANG THEORY) and 10,000
were following Jason Ritter, another popular I AM I cast member. The
team also made good use of Facebook. Jocelyn worked tirelessly on the
campaign, writing personal thank you notes to almost every donor.

Donations started strong ($17,000 in the first few days), slowed down
over the Christmas holidays, and accelerated as they approached the
finish line ($24,000 in the closing days). Their contributors included
friends, family, colleagues, and a few studio executives. 80% of their
902 contributors were total strangers. Amazingly, 3 of these strangers
made $10,000 donations, for which Jocelyn and Simon promised to come to
their hometowns and do private screenings just for them. Overall, as is
typical with Kickstarter projects, the majority of donations were at
the $20 (32%) and $100 (26%) levels.

Their campaign was so successful that it gave I AM I the momentum
needed to move into production. Even after their campaign ended, people
were still asking to contribute. The I AM I team added a Donate button
to their website and is offering rewards similar to those they gave on
Kickstarter.

In addition to the $111,965 raised, their campaign created a large
network of supporters. Producer Cora Olson observed, "our initial goal
was to raise as much money as possible, but when we saw how many online
impressions we were making, we realized that this awareness could
ultimately be more valuable than cash when it's time to launch the
film."

© 2011 Peter Broderick

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URGENT OPPORTUNITIES

FILM/VIDEO AND VISUAL ARTS GRANTS: There are only a few days left to
submit a letter of inquiry to receive a Creative Capital grant. This
outstanding organization supports innovative and adventurous artists
through funding, counsel, and career development services. Deadline:
March 1 (open to US citizens or permanent legal residents).

PUMA CREATIVE IMPACT AWARD: This £50,000 prize will be given annually
to the documentary that has made the greatest social impact. This
unprecedented award is administered by the visionary Channel 4 BRITDOC
Foundation and supported by PUMA. Deadline: April 1 (open to filmmakers
from any country).

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