The Benefits and Challenges of Crowdfunding for Student Filmmakers

[Maura N.]

Crowdfunding has become a popular alternative funding option for student filmmakers to finance their film projects. Crowdfunding platforms like Kickstarter, Indiegogo, and GoFundMe provide student filmmakers with a platform to raise money from a large audience, which can help them overcome traditional financing obstacles.

One of the most significant benefits of crowdfunding for student filmmakers is the ability to raise funds from a wide range of investors.

With the rise of social media, crowdfunding has become more accessible, and filmmakers can reach a global audience with ease. This can provide student filmmakers with the necessary funds to finance their projects and turn their ideas into reality.

<i style="">Another significant benefit of crowdfunding for student filmmakers is that it allows them to retain creative control over their projects.

Unlike traditional financing, where investors often have a say in the creative direction of the project, crowdfunding allows student filmmakers to maintain complete control over their film projects. This enables them to tell the stories they want to tell without any interference from outside sources.

Moreover, crowdfunding also allows student filmmakers to engage with their audience and build a fan base.

When filmmakers crowdfund their projects, they are essentially building a community of supporters who are invested in their project's success. This community can serve as an essential marketing tool, spreading the word about the film and generating buzz and interest in it.

However, crowdfunding is not without its challenges, and student filmmakers must be aware of them before embarking on a crowdfunding campaign.

One of the most significant challenges is standing out in a crowded market. There are thousands of film projects on crowdfunding platforms, and student filmmakers must create compelling pitch to attract investors. They must showcase their creativity and demonstrate why their project is unique and worth investing in.

Another challenge of crowdfunding is that it requires a significant investment of time and effort.

Crowdfunding campaigns require extensive planning, marketing, and promotion, which can be time-consuming and exhausting. Filmmakers must create compelling content, including videos, graphics, and written pitches, to attract investors and keep them engaged throughout the campaign.

Crowdfunding has become an essential financing option for student filmmakers. It provides them with a platform to raise funds, maintain creative control, and engage with their audience. However, crowdfunding is not without its challenges, and student filmmakers must be aware of them before launching a campaign. With careful planning and execution, crowdfunding can help student filmmakers finance their projects and bring their ideas to life.

 

[FredGinsburg]

The biggest issue that I have encountered with my students trying to raise money for their films is failing to answer the universal question: What's in it for me? (the investor). Sure, we know what's in it for the student (the money to make a film showcasing their abilities), but what benefit would be derived by the investor?

Yeah, friends and family will eagerly contribute--and crowd funding makes it easy for them to do so, and embarrassing to them if their names don't show up on the donation list, so they become even more motivated to make a pledge.

But to a stranger, why should they want to put up any money? They don't even know you! What is their motivation to fund your 20 minute movie? You have to present a good reason for an individual or a business to want to support your project -- something that they will see as beneficial to their pet cause or charity, or something that will help their business somehow.

Think about it from their perspective: how will helping you make YOUR film, help them. Who will see your film (how are you going to get the public to see it, and don't just say YouTube or Vimeo)? In the business world, we call it RETURN ON INVESTMENT.

Crowdfunding is a means of COLLECTING donations, but you still have to make the effort to SOLICIT donations. Take the time to write a proposal or pitch to prospective investors; and sell the benefits (for them) of supporting your project. Close your pitch by giving them the link to your crowd funding page. But seriously, do not expect total strangers to somehow just magically be driven to find your page automatically... if you build it, they will NOT come. You have to take the pitch directly to them first.