question of the day: Is holding out the hat a viable new way of financing films?One of my leftover links recently was to a story about how the credit crunch is impacting indie filmmakers, many of whom would run up tens or hundreds of thousands of dollars in credit card debt in order to pay for their projects, often by juggling and rejuggling balances from card to card to take advantage of low- and no-APR offers. That’s not happening anymore, obviously. I think we’ll see more of this alternative: Filmmaker Gary King, for example, is soliciting donations for his feature musical How Do You Write a Joe Schermann Song, about the life of an aspiring Broadway songwriter. King’s Web site for the project has more details, but this gist: He hopes to get people to pledge $30,000 to pay for production by April 18, and no one gets charged unless that goal is met. There’s also a long list of rewards for various levels of donations, just like PBS used to do. Is holding out the hat a viable new way of financing films? I suppose the viability depends, in part, upon how successful some of the early attempts are. What do you think? (If you have a suggestion for a QOTD, feel free to email me. Responses to this QOTD sent by email will be ignored; please post your responses here.) support
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Thu Apr 01 10, 11:44AM categories: talk amongst yourselves permalink 8 pre-Disqus comments Disqus comments tip jarshare
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posted by bitchen frizzy (Thu Apr 01 10, 11:55AM)
I think Gary King is going to be having some IRS problems. I'd also be very reluctant to give my credit card number to the third party he has doing the collection.
posted by LaSargenta (Thu Apr 01 10, 12:12PM)
Alex Cox has sort of been doing this for a while. But, he's got much bigger amounts that he asks for. Not sure if there's anything about it currently on his web site.
posted by Leslie Carr (Thu Apr 01 10, 12:19PM)
Is this a plotline from "The Producers"?
posted by JoshDM (Thu Apr 01 10, 12:31PM)
They can always use Fundable for projects.
posted by JoshDM (Thu Apr 01 10, 12:32PM)
And no, I didn't click the link before I posted, but the description above reads like he's using Fundable.
posted by bitchen frizzy (Thu Apr 01 10, 12:38PM)
No, he's using something called Kickstarter. The "donate" link leads to a homemade website.
posted by Tonio Kruger (Thu Apr 01 10, 1:55PM)
At least he's not employing the fundraising method illustrated in the opening sequence of Pulp Fiction. ;-)
posted by e (Thu Apr 01 10, 10:07PM)
I have to agree, the IRS implications can get confusing. I'd love to have a way for me to donate some amount to a film, and if it makes a profit, I get a tiny percentage based on the donation. But that sounds even more complicated taxwise.