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?

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bitchen frizzy
bitchen frizzy
Thu, Apr 01, 2010 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.

LaSargenta
LaSargenta
Thu, Apr 01, 2010 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.

Leslie Carr
Leslie Carr
Thu, Apr 01, 2010 12:19pm

Is this a plotline from “The Producers”?

JoshDM
JoshDM
Thu, Apr 01, 2010 12:31pm

They can always use Fundable for projects.

JoshDM
JoshDM
Thu, Apr 01, 2010 12:32pm

And no, I didn’t click the link before I posted, but the description above reads like he’s using Fundable.

bitchen frizzy
bitchen frizzy
Thu, Apr 01, 2010 12:38pm

No, he’s using something called Kickstarter. The “donate” link leads to a homemade website.

Tonio Kruger
Tonio Kruger
Thu, Apr 01, 2010 1:55pm

At least he’s not employing the fundraising method illustrated in the opening sequence of Pulp Fiction. ;-)