@sens I don't think the crowdfunding solution has failed, so much as the crowdfunding solution is still init's infancy stages. Even for US tax purposes, crowdfunding is even more murky and undefined that crypto mining is.
Crowdfunding has been associated mostly with music, new/innovative project launches and charitable donations. I don't think a clear association has been formed in the mind of most who would donate that it is even a possibility. Most are likely concerned if they do donate to a particular film project, the project may never get the backing it needs to happen and they will lose their money in a gamble. They may also be concerned they cannot assess the value of a script.
I don't think the idea of crowdfunding independent film has failed. I think the independent filmmakers need to explore what is making the potential donor hesitate and address those issues. Crowdfunding can be a solution.
Just to be clear, crowdfunding has failed for independent feature films. Pretty much every crowdfunding success is a) American, b) Involves known names, c) Crowdfunded by immediate family and friends. There are some documentaries and short films that have seen success, primarily because of the lower asked funding. But even so, the proportion of successfully funded projects is vanishingly rare.
The moment you get to an independent feature film and ask for, say $150,000 (which is the bare minimum). Nope, no chance whatsoever.
Crowdfunders aren't particularly skilled at deciphering complex 120 page scripts, there's no real known name to go by, and it's a lot of money to ask for basically based on blind faith of a director's ability.
Greenlighting projects is a real skill - the truth is no one knows if a film will turn out well. Plenty a great scripts have ended up as rubbish films. Not to mention, independent films which strive to go beyond the text and explore the visual form - it's nigh impossible for a professional to judge that, let alone a layman crowdfunder.
Crowdfunding has failed. It only works when you have famous people attached to the project.
@sens I don't think the crowdfunding solution has failed, so much as the crowdfunding solution is still init's infancy stages. Even for US tax purposes, crowdfunding is even more murky and undefined that crypto mining is.
Crowdfunding has been associated mostly with music, new/innovative project launches and charitable donations. I don't think a clear association has been formed in the mind of most who would donate that it is even a possibility. Most are likely concerned if they do donate to a particular film project, the project may never get the backing it needs to happen and they will lose their money in a gamble. They may also be concerned they cannot assess the value of a script.
I don't think the idea of crowdfunding independent film has failed. I think the independent filmmakers need to explore what is making the potential donor hesitate and address those issues. Crowdfunding can be a solution.
Just to be clear, crowdfunding has failed for independent feature films. Pretty much every crowdfunding success is a) American, b) Involves known names, c) Crowdfunded by immediate family and friends. There are some documentaries and short films that have seen success, primarily because of the lower asked funding. But even so, the proportion of successfully funded projects is vanishingly rare.
The moment you get to an independent feature film and ask for, say $150,000 (which is the bare minimum). Nope, no chance whatsoever.
Crowdfunders aren't particularly skilled at deciphering complex 120 page scripts, there's no real known name to go by, and it's a lot of money to ask for basically based on blind faith of a director's ability.
Greenlighting projects is a real skill - the truth is no one knows if a film will turn out well. Plenty a great scripts have ended up as rubbish films. Not to mention, independent films which strive to go beyond the text and explore the visual form - it's nigh impossible for a professional to judge that, let alone a layman crowdfunder.