A current controversial issue in the film industry is if multimillionaire actors and producers alike should use crowdfunding tools online to fund their film projects. Lisa Marks, writer for The Guardian, in an article, asks readers if asking the public to invest in a film without the awards of earning money from a successful film will end up compromising the system. The article points out “…that an actor/director who has the means to either fund his movie himself, or sign a typical financing deal…” is asking for donors is taking away funds from independent film projects that do not have the same access to traditional funding in comparison.
However, a majority at 92.6% of people from the poll believes crowdsourcing is a great way for independent films to go into production, 0% said no, and 7.4% said maybe. When asked, if they think celebrities are taking away funds from independent productions by starting their own crowdsourcing campaigns, the results show 40.7% agree, 33.3% disagree, and 25.9% said maybe.
In recent news on Hollywoodreporter.com, actor Zach Braff was able to used Kickstarter.com to raise over $2.6 million from thousands of donors. Braff will also provide his own money as well as “gap financing from Worldview and foreign presales by Wild Bunch.” Although Braff is a celebrity, his film is still considered an independent film and the supports who gave funds through crowdsourcing shows that there is a public interest in seeing this film created. The Guardiannews.com article, from writer Ben Child, states that Braff started the crowdsourcing campaign because “…but didn’t want to give up the final cut and the right to pick the cast.”
In a poll when asking the opinions of this controversial topic, the results show that people are almost divided about celebrities using their star power to raise funds for the film projects. Results show 55.6% believe they should use crowdsourcing tools and 44.4% disagree. The data also shows that only 14.8% have used crowdsourcing to fund their projects and the same percentage would not give money to fund a project to support your favorite Director or Producer in exchange for gifts. Almost half at 55.6% state they believe that those who give funds for projects are like investors and instead of gifts should receive part of the profits based on their contribution, whereas 11.1% say no and 33% said maybe.
Infographic Credit: Jessica Northey