Kickstarter Etiquette: Five Rules Every Fund-raising Filmmaker Needs to Learn

Zach Braff Cover of June 2013 Variety Magazine Photo Source: Variety

Zach Braff cover of June 2013 Variety Magazine
Photo Source: Variety Magazine

“Will Crowdfunding Transform Showbiz?” asks a new Variety feature, touting Zach Braff — who recently raised over $3 million for his new directorial effortWish I Was Here — as its savvy cover subject. It’s one of those Big Questions that already seems to have been answered: Successful Kickstarter projects like Braff’s new movie and the big-screen Veronica Mars transfer have turned Hollywood’s head in a major way, and more mid-budget movies are bound to follow suit, coming to fans with an open hand. You’ve probably already noticed an uptick in friends hitting you up for their own Kickstarters, hoping you’ll donate to make their hoped-for web series/short film/debut feature a reality; is there some sort of trickle-down financing scheme catching hold, and if so, isn’t it past time that we made up some rules for this sort of lawless endeavor? Here are five rules that fund-raising filmmakers — from the lowest-budgeted auteurs to the biggest-name talents — should adopt right away.

Be transparent about where the money goes.
Whether filmmakers are asking you for $2,000 or $2 million, they need to be up front about what they’re planning to do with the money they earn. Are backers helping to pay for sets and special effects … or are you simply padding your friend’s wallet with extra cash? If you’re donating to a big star’s indie film, is there an actual budget breakdown … or is the goal just a pie-in-the-sky figure that they’ve haphazardly guesstimated? Too often, the filmmakers are vague about what they’ll actually be needing the money for, and when they can’t be truthful with you, it’s easy to assume that they don’t have their shit together — or worse, that they’re keeping something essential and damning out of their pitch.

That’s a lesson Braff learned the hard way in the last ten days of his Kickstarter campaign, when the Hollywood Reporter breathlessly divulged that he had just landed a sizable amount of his budget from Worldview Entertainment, a leading film financier. There’s no harm in that play since Worldview is a major investment company that lends crucial money toward auteur-driven indies, but the optics looked bad: Braff had made a plaintive plea to Kickstarter that claimed good financiers were hard to come by, but at the same time he was wooing Worldview to finance a high-profile follow-up to Garden State with a big-name cast including Braff, Kate Hudson, Anna Kendrick, and Jim Parsons. If he’d simply said up front that he planned to secure some extra financing — and that the passion from his fans could help boost that figure — he could have ameliorated the inevitable bad buzz.

Pages: 1 2 3

HEADLINE NEWS

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news [...]

NPRAfter Outcry, Crowdfunding Site Patreon Backs Off Plan To Raise ...NPRThe popular crowdfunding service Patreon has backed off plans to change its payment structure, after widespread, vocal and passionate opposition from creators and their fans. Last week, the site announced it woul [...]

TechCrunchHow hate speech crowdfunding outfit Hatreon crept back online ...TechCrunchIf you want to make a living creating white supremacist content, you're probably not going to do it via sites like Kickstarter and Patreon, which prohibit hate speech. Fortunately there's Ha [...]

EntrepreneurWhy Some Small Business Owners Are Turning to Crowdfunding to Save Their CompanyEntrepreneurMany owners of beloved local businesses, especially in pricier cities, have been forced to swallow their pride and appeal to their customers in times of crisis -- a process streamli [...]

CoinDeskKickstarter ICO? Don't Count On It Says Crowdfunding Leader ...CoinDeskThe company most widely associated with crowdfunding, Brooklyn-based Kickstarter, has no plans to get into the initial coin offering (ICO) business. Coming in response to the news yesterday that compet [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

CryptoCoinsNewsCrowdfunding Giant Indiegogo Looks to Make ICOs MainstreamCryptoCoinsNewsCrowdfunding platform Indiegogo has a plan to help initial coin offerings (ICOs) break into the mainstream, even as the U.S. Securities and Exchange Commission (SEC) is ramping up its oversight of [...]

BBC NewsWu Yongning: Who is to blame for a daredevil's death? - BBC NewsBBC NewsLast month, Wu Yongning went out to do what he loved best - scale a skyscraper without safety equipment and film himself dangling off its roof by his fingertips. What happened next almost seems inevit [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

NPRCrowdfunding For French CastlesNPRYou too can own a French chateau, in part, anyway. Romain Delaume, CEO of Dartagnans, tells NPR's Scott Simon about a crowdfunding effort underway to preserve La Mothe-Chandeniers. SCOTT SIMON, HOST: What if I told you that for about $60, you [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |