IndieGoGo has ushered in a new era for independent filmmaking, giving creators a platform to bring their visions to life. By connecting filmmakers directly with potential backers worldwide, the platform has democratized access to funding and increased diversity in storytelling. This shift has not only empowered independent artists but also challenged traditional financing models, pushing the industry to adapt to changing market dynamics.
IndieGoGo has emerged as a game-changer for independent filmmakers, offering a platform to bring their creative visions to life. This crowdfunding site has an influence on the film industry by providing a way for artists to secure funding outside traditional channels. It gives filmmakers the chance to maintain creative freedom while raising money for their projects.
The platform’s impact on low-budget filmmaking is significant. IndieGoGo’s flexible funding model sets it apart from competitors like Kickstarter’s all-or-nothing approach. Filmmakers can keep the funds they raise even if they don’t hit their goal, though IndieGoGo fees apply. How much IndieGoGo takes depends on the campaign type, with percentages varying. This article will explore IndieGoGo’s key features, tips for successful campaigns, and its broader effect on independent cinema.
The Rise of Crowdfunding in Independent Filmmaking
Brief history of IndieGoGo
IndieGoGo, founded in 2008, has become a leading platform for independent filmmakers to bring their creative visions to life. The company’s mission is to empower people to unite around ideas that matter to them and make those ideas a reality. Since its inception, IndieGoGo has helped bring more than 800,000 innovative ideas to fruition, including numerous film projects. Today, the platform boasts a community of over 9 million backers from 235 countries and territories, providing filmmakers with access to a global audience.
How crowdfunding platforms have revolutionized film financing
Crowdfunding platforms like IndieGoGo have transformed the landscape of independent filmmaking. These platforms allow filmmakers to bypass traditional funding channels and connect directly with their audience. This shift has given rise to a new era of creative freedom, where artists can maintain control over their projects without compromising their vision to satisfy investors or studios.
The flexible funding model offered by IndieGoGo sets it apart from competitors like Kickstarter. While Kickstarter uses an all-or-nothing approach, IndieGoGo allows filmmakers to keep the funds they raise even if they don’t hit their target goal. This flexibility can be particularly beneficial for low-budget filmmaking, as it provides a safety net for projects that may fall short of their initial funding goals.
Crowdfunding has also democratized the film financing process. It allows filmmakers to validate their ideas and gauge audience interest before production begins. A successful campaign serves as proof of concept, demonstrating that there’s a market for the film and potentially attracting additional investors or distributors.
Success stories of indie films funded through IndieGoGo
Several independent films have found success through IndieGoGo campaigns. One notable example is “Dear White People,” which raised its initial production funds on the platform. The film went on to break the U.S. domestic box office record for a crowdfunded movie, grossing over $4.4 million domestically.
Another success story is “Life Itself,” a documentary about film critic Roger Ebert. The campaign raised $153,875 on IndieGoGo, enabling the filmmakers to bring the project to audiences worldwide. The film premiered at the Sundance Film Festival and was simultaneously live-streamed to IndieGoGo backers, a first for both the festival and the industry.
“A Girl Walks Home Alone At Night” is another indie film that found success through IndieGoGo. The campaign raised $56,903, allowing director Lily Amirpour to complete her first full-length feature. The film went on to debut at Sundance, win multiple awards, and secure distribution.
These success stories highlight how IndieGoGo has given independent filmmakers a chance to realize their creative visions and reach audiences that might have been inaccessible through traditional funding methods. By providing a platform for filmmakers to connect directly with their audience, IndieGoGo has helped to foster a new generation of independent cinema, driven by the passion of creators and the support of engaged communities.
Key Features of IndieGoGo for Filmmakers
Flexible funding options
IndieGoGo stands out from other crowdfunding platforms by offering filmmakers two distinct funding models: flexible and fixed. The flexible funding option allows creators to keep all the money they raise, even if they don’t reach their target goal. This approach can be particularly beneficial for low-budget filmmaking projects that can still move forward with partial funding. It gives filmmakers the confidence to proceed with their projects, knowing they’ll have access to the funds they’ve raised regardless of the final amount.
On the other hand, the fixed funding model operates on an all-or-nothing basis, similar to Kickstarter. If the campaign reaches or surpasses its goal, the filmmaker keeps all the funds raised. However, if the target isn’t met, all contributions are returned to the backers. This option can be suitable for projects with strict minimum funding requirements, such as those involving substantial up-front manufacturing costs.
It’s important to note that IndieGoGo charges different fees depending on the funding model chosen. Flexible funding campaigns typically incur higher fees, which filmmakers should factor into their budget calculations.
Wide reach and diverse audience
IndieGoGo boasts a global reach, connecting filmmakers with potential backers from 224 countries and territories worldwide. This extensive network provides independent filmmakers with access to a diverse and international audience, significantly expanding their potential support base beyond their immediate personal networks.
The platform attracts nearly 20 million monthly visits, offering filmmakers a substantial pool of potential backers. This wide reach can be particularly valuable for niche projects that might struggle to find support through traditional funding channels. Filmmakers can leverage this global audience to not only secure funding but also to build a dedicated fan base for their projects from the early stages of production.
Marketing and promotional tools
IndieGoGo provides filmmakers with a range of marketing and promotional tools to help them run successful campaigns. The platform’s user-friendly interface allows creators to easily customize their campaign pages, making it simple to showcase their projects effectively.
One key feature is the ability to offer perks or rewards to backers. IndieGoGo allows up to 20 active perks during a campaign, which can include merchandise like mugs and T-shirts, as well as unique experiences related to the film. These perks can help attract a larger audience and encourage more people to support the project.
To assist with fulfillment of these perks, IndieGoGo has partnered with Amplifier, their preferred fulfillment partner. This collaboration offers filmmakers support in various aspects, from sending surveys to backers to manufacturing physical perks, with a 10% discount on Amplifier’s fees for IndieGoGo users.
The platform also emphasizes the importance of public relations in campaign success. They encourage filmmakers to draft press releases and reach out to relevant film websites, bloggers, influencers, and local media outlets to generate publicity for their campaigns.
By providing these comprehensive features, IndieGoGo empowers independent filmmakers to not only raise funds but also to build an audience, manage their campaigns effectively, and lay the groundwork for their films’ future success.
Crafting a Successful IndieGoGo Campaign
Creating a compelling pitch
To attract potential backers, independent filmmakers need to create a compelling crowdfunding campaign that showcases their project’s unique selling points. The campaign video is the single most important element, serving as an elevator pitch for the film. It’s crucial to keep the video short, ideally between 2 to 3 minutes in length.
The video should introduce the filmmaker, explain the film’s concept, and highlight why people should care enough to help fund it. Campaigns with a video raise four times as much funding as those without one. Filmmakers should appear in their videos to forge a personal connection with potential backers.
A well-crafted pitch should include a logline that summarizes the story in one sentence, explain the purpose of crowdfunding (whether it’s for production, post-production, or distribution), and mention unique perks offered to contributors. Showcasing clips of prior work or footage from the current project can demonstrate the filmmaker’s capabilities.
Setting realistic funding goals
When setting a funding goal, it’s essential to be realistic and consider the campaign’s potential reach. IndieGoGo offers two funding options: fixed funding, where contributions are kept only if the goal is met, and flexible funding, which allows filmmakers to keep contributions regardless of reaching the target.
For low-budget filmmaking, flexible funding can be beneficial, as it allows filmmakers to work with partial funding. However, it’s crucial not to set the goal too high. A common mistake is aiming for the entire film budget in one campaign. Instead, filmmakers should consider their email and social media influence, identify where the first 30% of funds will come from (typically family, close friends, and fans), and aim to secure that amount within the first two to three days of launch.
Offering attractive perks to backers
IndieGoGo allows up to 20 active perks during a campaign. These can range from merchandise like mugs and T-shirts to unique experiences that create a deeper connection between the film and its backers. Perks should be priced to cover production and shipping costs.
Effective perks can include:
- Merchandise: Postcards with handwritten thank-you notes ($10), advance film downloads ($25), or DVD/Blu-ray copies ($35-$50).
- Unique experiences: Screening tickets ($150+), cameo roles ($250-$500), or producer credits ($1,000-$10,000).
- Personal connection: Signed props ($100-$1,000), voicemail greetings ($15-$300), or the chance to call “action” on set ($500+).
Adding new perks after launch can help maintain momentum and stimulate more contributions. Successful campaigns often add an average of 15 post-launch perks. Upselling strategies, offering add-ons that provide additional value to existing perks, can significantly boost funding.
By focusing on these key aspects – creating a compelling pitch, setting realistic goals, and offering attractive perks – independent filmmakers can craft successful IndieGoGo campaigns that help bring their creative visions to life.
The Impact of IndieGoGo on the Film Industry
Democratization of filmmaking
IndieGoGo has had a significant influence on the democratization of filmmaking. This crowdfunding platform has given independent filmmakers a chance to bring their creative visions to life without relying solely on traditional financing models. By allowing filmmakers to connect directly with potential backers, IndieGoGo has broken down barriers to entry in the film industry.
The platform’s flexible funding option has been particularly beneficial for low-budget filmmaking. Unlike Kickstarter’s all-or-nothing approach, IndieGoGo allows filmmakers to keep the funds they raise even if they don’t hit their target goal. This flexibility provides a safety net for projects that may fall short of their initial funding goals, enabling more diverse stories to be told.
Increased diversity in storytelling
One of the most significant impacts of IndieGoGo on the film industry has been the increased diversity in storytelling. By bypassing traditional gatekeepers, the platform has allowed filmmakers from various backgrounds to share their unique perspectives and narratives. This has resulted in a broader range of stories being told, reflecting a more diverse and inclusive representation of society.
IndieGoGo’s global reach, connecting filmmakers with potential backers from 224 countries and territories, has further contributed to this diversity. Filmmakers can now access a worldwide audience, finding support for niche projects that might struggle to secure funding through conventional channels.
Challenges and opportunities for traditional film financing models
The rise of crowdfunding platforms like IndieGoGo has presented both challenges and opportunities for traditional film financing models. On one hand, it has put pressure on established industry players to adapt to changing market dynamics. The success of crowdfunded films has demonstrated that there’s an audience for diverse, unconventional stories that might not fit the typical studio mold.
However, crowdfunding has also created new opportunities for collaboration between independent filmmakers and traditional industry players. A successful IndieGoGo campaign can serve as proof of concept, demonstrating audience interest and potentially attracting additional investors or distributors. This has led to a more symbiotic relationship between crowdfunding and traditional financing methods.
Despite these changes, it’s important to note that IndieGoGo and other crowdfunding platforms haven’t entirely replaced traditional film financing. Instead, they’ve become an additional tool in the filmmaker’s arsenal, often used in conjunction with other funding sources. The platform’s impact has been particularly significant for independent and low-budget productions, providing a viable alternative for projects that might otherwise struggle to secure funding.
In conclusion, IndieGoGo has transformed the landscape of independent filmmaking by democratizing access to funding, increasing diversity in storytelling, and challenging traditional financing models. While it has its limitations, the platform has undoubtedly given independent filmmakers a chance to bring their visions to life and connect with audiences in ways that were previously impossible.
As the film industry continues to evolve, IndieGoGo’s impact on low-budget filmmaking remains significant. The platform’s flexible funding model and promotional tools have opened doors for projects that might otherwise struggle to secure funding. While crowdfunding hasn’t replaced traditional financing methods entirely, it has become a valuable addition to the filmmaker’s toolkit, often used alongside other funding sources to bring unique stories to the screen.
Here are some FAQs about IndieGoGo giving independent filmmakers a chance:
What is not allowed on Indiegogo?
Indiegogo does not allow projects related to illegal activities, drugs, or violent content. Additionally, they restrict campaigns that promote hate speech or discrimination. These guidelines ensure a safe and supportive environment for all users on the platform.
How much do independent filmmakers make?
Independent filmmakers’ earnings vary widely based on factors like budget, distribution, and audience reach. Some may make substantial profits through successful crowdfunding campaigns or festival wins, while others may only recoup a portion of their investment. Platforms like Indiegogo allow filmmakers to raise funds directly from their supporters.
How much percentage does Indiegogo take?
Indiegogo charges a 5% platform fee for most campaigns, plus additional payment processing fees, which can vary. These fees are deducted from the funds raised by the campaign to cover operational costs. Filmmakers and other creators should account for these charges when setting their funding goals.
Which crowdfunding platform is best for films?
Both Kickstarter and Indiegogo are popular for filmmakers. Kickstarter is known for its “all-or-nothing” model, which can motivate backers, while Indiegogo offers a flexible funding option, allowing creators to keep what they raise, even if they don’t meet their goals. The choice depends on the project’s needs and the creator’s preference.
What is Indiegogo failure rate?
The failure rate on Indiegogo varies, but many campaigns do not reach their full funding goals. Factors like insufficient promotion, unclear goals, or unrealistic budgets contribute to these failures. Campaign creators need to plan effectively and actively engage with potential backers to increase their chances of success.
How risky is Indiegogo?
Indiegogo campaigns carry some risk for both creators and backers. Creators risk not meeting their funding goals, while backers might support a project that never comes to fruition. However, Indiegogo mitigates risks by allowing creators to communicate transparently with their supporters throughout the process.
Is Kickstarter better than Indiegogo?
Both platforms have advantages depending on the project’s goals. Kickstarter’s all-or-nothing model can drive urgency, while Indiegogo offers flexible funding. Kickstarter may be better for projects requiring full funding, whereas Indiegogo works well for creators comfortable with partial funding.
What happens if Indiegogo campaign fails?
If an Indiegogo campaign fails to reach its goal in a fixed funding model, the backers are not charged, and the campaign creator does not receive any funds. In a flexible funding campaign, the creator keeps whatever money is raised, even if the goal isn’t met.
Is Indiegogo owned by Kickstarter?
No, Indiegogo and Kickstarter are separate companies. Both platforms operate independently, offering similar crowdfunding services with different models and structures to accommodate various types of creative projects.
Can you put any project on Indiegogo?
Creators can submit a wide range of projects on Indiegogo, but they must comply with the platform’s guidelines, which prohibit illegal activities, scams, or harmful content. Projects across categories like technology, film, and art are commonly found on the platform.
How does Indiegogo pay you?
Indiegogo pays campaign creators through direct deposit to their bank accounts. The funds are released after the campaign ends, minus the platform and payment processing fees. Creators need to provide valid banking information during the setup process.
How to be successful on Indiegogo?
Success on Indiegogo requires thorough planning, setting realistic goals, and engaging your audience. Promoting the campaign through social media, creating compelling content, and maintaining transparent communication are key strategies. Filmmakers can attract more backers with trailers and behind-the-scenes updates.
Can I run Kickstarter and Indiegogo at the same time?
While there are no strict rules preventing you from running campaigns on both platforms, it’s not recommended to do so simultaneously, as it can confuse backers and split your fundraising efforts. Many creators choose one platform or run consecutive campaigns.
Why does Indiegogo ask for a tip?
Indiegogo offers backers the option to leave a tip during checkout to support the platform’s operations. This tip is voluntary and helps Indiegogo continue providing tools and resources for creators. It’s a way for backers to contribute beyond the standard fees.
How much money does Indiegogo keep?
Indiegogo keeps a 5% fee from the total funds raised by a campaign. Additionally, payment processing fees, which typically range between 3% to 5%, are also deducted. These fees cover the operational costs of maintaining the platform and providing services to creators.
How long can you run an Indiegogo campaign?
An Indiegogo campaign can run for a maximum of 60 days. Creators can choose shorter durations if they prefer, but extending beyond 60 days is not allowed. Setting the right campaign length can impact its success, with many finding 30 to 45 days as an optimal timeframe.