KICKSTARTER What Does it Mean for Independent Filmmakers

+ KICKSTARTER: What Does it Mean for Independent Filmmakers and Fans? presented by Kayla Milligan

+ What is Kickstarter? n Kickstarter is a way for independent artists to fund their creative projects. n Creators pitch their product idea on the site and interested backers donate money to help fund the project. n Why donate? In addition to seeing a project of interest come to life, backers receive rewards based on the amount that they donate. n Each project is given an allotted amount of time (usually 30 days) in which it must reach its fundraising goal. If it does not receive enough funds by the end of the time period, no money is donated.

+ Statistics n Since its launch in April of 2009, over $587 million have been pledged by more than 3. 9 million people, funding more than 40, 000 creative projects. n The site brings in an average of 200 new projects daily. n Of the $587 million pledged, $496 million have backed successful projects. n While most successfully funded projects raise less than $10, 000, 28 projects have gone to raise over $1 million. n In 2012, Kickstarter helped artists of all kinds raise over $274 million and took in nearly $14 million in fees (5% of funds per successful project).

+ Popular Vs. Profitable Projects n The most pitched project type is Film & Video, though they are ranked second most likely to receive funds from backers and only sixth most likely to reach their fundraising goals in time.

+ Success Rate and Increasing Funds

+ What Does This Mean for Independent Filmmakers? n Kickstarter has helped over 10, 000 filmmakers raise more than $88 million since it began in 2009. n At last year’s Sundance Film Festival, 19 films (or 10 percent) were funded on Kickstarter and over 10 percent of the films screened at the last SXSW Festival were funded by Kickstarter backers. n The Kickstarter-funded film, Inocente, was the first-ever crowdsourced film to win an Academy Award. n Though most projects are student films, several established filmmakers such as screenwriter Charlie Kaufman, director Paul Schrader, and actor Zach Braff have also funded their projects through the site.

+ Veronica Mars: A Fan-Financed Film n Fans of the cult classic TV series, Veronica Mars, were devastated by its cancellation in 2007. n Creator Rob Thomas decided to start a Kickstarter campaign to raise funds for a movie based on the beloved show. n The 30 -day campaign ended in April 2013 and made Kickstarter history. It was the fastest project to reach its fundraising goal ($2 million in under 12 hours) and had more backers than any other Kickstarter project (91, 585 people donated $5, 702, 153). n This new trend of fan-financed films puts the fans in control of what movies are produced.

+ Video: The Impact of Kickstarter n PBS Off Book presents The Impact of Kickstarter

+ So, Why Use Kickstarter? “If you can raise money on Kickstarter, you don’t have to wait around to be green-lighted. You green-light your f#cking self. ” - Matt Porterfield, a Baltimore filmmaker whose Kickstarter-backed film, I Used to Be Darker, premiered at Sundance. More Kickstarter film success stories.

+ Web Sources n http: //www. kickstarter. com n http: //www. nytimes. com/2013/04/28/us/veronica-mars-willreturn-thanks-to-fan-financing. html? _r=0 n http: //www. fastcompany. com/magazine/174/why-kickstarterwont-sell-or-go-public n http: //www. wired. com/underwire/2013/02/kickstarter-first-oscar/