Now, prize wise... I think we could do something fun-ish. Maybe we make it where all participants have to share the winners video on there social media sites? Or, we gift the winner something.
Would there be a way to send (safely) a prize to someone? For example, maybe we do it like a gamble... Where participants put something on the line that they have first before we start.
What if, I promised to ship my limited edition Kushtaka doll, or something similar to the winner? We could make it a rule that no one can go above $20 as a prize.... OR, if you wanna go real risk, high stakes, fast lane kinda deal... What if a participant bet a camera lens or a real nice piece of gear for the challenge?
I think it's a cool idea but problematic for a couple of reasons. For one, all of our contributions would be of different value, and if that value had to be under 20 bucks, the prize would likely end up being a bag of junk. I'd suggest a $10 entry fee, pooled and paypaled to the winner. simple, clean, and balanced. If the community would be interested in a more ambitious proposal, read on.
I'd put up something big, If we had the size of community to make it reasonable. Or if we advertised it big enough to make a profit. I'll outline a scenario that might work, but I don't know if this forum community has the cash to make it work.
If Indie will run enough ads to rope in 2000 filmmakers, at a 20 dollar buy in, and required indietalk forum sign up, I'll put up my Red Epic, Gimbal, Kessler Crane, Cine Gimbal, Greenscreen wall, lens kit, and ARRI light kit for the contest, Like a Raffle. I'd get paid 20k of the entry fees for the Epic home studio cinematography kit. The rest of the entry fees would be used to cover the cost of the advertising, and enhancing the forum.
This would accomplish 4 things simultaneously
1. It would create a prize for filmmakers that would be able to lure thousands of people to the contest.
2. It would drive a huge amount of traffic here with member signup required, and generate a million hits as people obsessively watched the competition to see if they had a chance to win.
3. I could get a fair price for my kit, which I've been considering selling as a transition to CGI becomes more viable.
4. It would cover the cost of advertising Indietalk to around a million filmmakers around the world.
Basically here is how this mechanic would work. Indie puts up the ad money, and I put up the Epic Kit, but it has to reach a critical mass to cover the prize, and pay itself back. If I put up the complete Red Kit, He'd need to keep running ads until we had enough entrants to cover the costs. Probably the chance to win a Red Kit would be enough to get fair click through. I would estimate 5k in ads would get it out to a around 625k targeted viewers, with a conversion rate of 1/400 needed for success, at a gross 31k intake. That leaves a 6k margin for ad overflow without financial losses taking place. Obviously the time frame would have to be extended. Any left over money could go to supporting the forum. (running additional advertising to grow the forum. and increasing the size of the audience for everyone on the forum)
The risk is that IT would have to keep running ads until we had the entrants to cover the cost of the contest. That's not a guaranteed win, but it's a reasonable bet. A lot of filmmakers would want a Red Epic kit. Anyway, it's just a suggestion for some possible synergy. Could work out great, or IT could loose money if the ad campaign went bad. I will say that this whole thing would get a lot more interesting with 20 grand on the table, lol. I would have to recuse myself from the contest, but honestly, I'd rather get top dollar used price for my kit than win 200 dollars. Enter a contest for 20 dollars for a chance to win prizes valued at $20,000 actually sounds like a pretty good pitch to prospective entrants.
I assume we're going to end up doing something small, I'm ok with that, just throwing out an offer to escalate this thing into something massive. We could let anyone vote that became a member here, and people would stack every friend they had on here to try and win the Red, meaning the site could end up with 20-30k new members at the end of the day.
Something to think about. legality would depend on where Burntime was incorporated. For example, my incorporation is based in Delaware, rather than where I live.
Here's an article outlining contest legalities. I don't see how this idea is any different than any film festival collecting entry fees and offering prizes.
There are lots of legal issues you need to be aware of before you host a social media contest. This post highlights some of them.
www.inc.com
TLDR, I see your $10 and raise you 20k, lol