> My Crowdfunding Experience

rayw · Apr 26, 2012

Crowdfunding: http://en.wikipedia.org/wiki/Crowdfunding

I thought it might be a good idea to have a thread dedicated to discussing our individual KickStarter & IndieGoGo crowdfunding experiences (in as much excruciating depth as bearable) so that we may all better understand the resource's limitations.

(Click on images to goto sites)

Anyone care to share their stories?

- Overall expectations going into the "Yes/Pursue" decision
- Pre planning
- What you received advice and were warned about before or during the campaign
- Campaign architecture
- What you were trying to (and not to) convey in the campaign?
- Nuances in the donor premium/reward structure
- Financial and attitude observations of family, immediate friends, long distance extended e-friends, strangers
- Donation expectations and observations
- Take aways
- How did X-input correlate with Y-response?
- What did people seem to "miss"?
- Surprises, good and bad
- Next time what would you repeat and what would you do differently?
- Would you try crowdfunding again?
- Alternatives

Thank you.

rayw · Aug 7, 2012

$110,000 by Monday Sep 3
http://www.indietalk.com/showthread.php?t=42062

Clyde - The Webseries - seeking $8,000 by Thu Sep 06
http://www.indietalk.com/showthread.php?t=41859

Brain Eaters - seeking $850 by Friday Sep 7
http://www.indietalk.com/showthread.php?t=42346

Trapped in Time 3D! - seeking $10,000 by Wednesday Sep 19
http://www.indietalk.com/showthread.php?p=283437#post283437

Bimbo Zombie Killers - seeking $6,000 by Tue Oct 02
http://www.indietalk.com/showthread.php?t=40686

Wasp - seeking

$150,000 by Fri Jul 05, 2013
http://www.indietalk.com/showthread.php?t=41474

A few of those have concluded or are about to.
Anyone care to share their experiences?

For those of you still running I hope this post brings another round of attention to your projects! GL! :yes:

directorik · Aug 8, 2012

I hope I did not come off as coming from a depraved
slow-down-at-the car-wreck-looking-for-dead-and-maimed
morbid curiosity perspective. I've been following Andrew
for several years as he's tried several ways to raise money
for several different projects - way back to MySpace message
boards.

Five? Six? years ago.

I am curious about what happened from a legitimate what can
go wrong perspective, too.

rayw · Aug 8, 2012

directorik said:
I hope I did not come off as coming from a depraved
slow-down-at-the car-wreck-looking-for-dead-and-maimed
morbid curiosity perspective....

I am curious about what happened from a legitimate what can
go wrong perspective, too.

No, not at all.
I just wanted to provide reassurance that my, and you've just confirmed your's as well, interest is sincere.

I enjoy understanding both how things are built and how they... fail (for want of a better word).
When a plane crashes or bridge collapses the NTSB doesn't rush out to find fault.
They investigate the engineering aspects of what happened and why - for the express purpose of avoiding the same cause in future events!
Likewise, I'm not only interested in crowdfunding successes. I also want to know why things did not go as planned.

This is the first plug I've seen pulled.
I had also noticed that this was the same project that had been scaled down from a $50k project to a $15k project - and now it's been pulled altogether.
Likely there's a simple explanation.
As business people, and most of us here are functioning not only as creative directors but also as managerial producers, it's important to be aware of the risks associated with making a film of all scopes. :yes:

Andrew McCarrick · Aug 9, 2012

rayw said:
Well, now. That is interesting.
I'm also interested, and not from some depraved slow-down-at-the car-wreck-looking-for-dead-and-maimed morbid curiosity perspective, but from a legitimate what-can-go-wrong (or right!) understanding.

I hope you and your family is okay, Andrew.

or

GL!

Everythings fine... Just after a couple of weeks with no movement, I just anticipated it was going no where. I'm also working on a slate of 7 other projects... The SEC is lifting the ban on general solicitation on August 22nd, so I'm packaging together all of my films, and seeking investors for the full slate instead of going the donation route; hoping the diversification route (with multiple films) and an equity stake will entice people.

Since canceling the kickstater, I've been getting my website together, so I can screen for qualifying investors, and release information to them (while complying with the securities laws)... http://www.area51entertainment.co/ and re-doing my business plans. I've pretty much been getting out of bed and working 12-14 hours a day straight on the website and business plans for the past week. I've got a plan for my main company Area 51 Entertainment (which is 104 pages long), plus other plans for each individual film.

And just to cover my ass, since General Solicitation isn't legal yet:
This post does not constitute an offer to sell, or a solicitation of an offer to purchase, securities.

rayw · Aug 9, 2012

Andrew -
Whew! Glad to hear it's a sensible GOOD reason to "realign" your finite time and attention resources in a fashion best serving your overall plan.
Cool.
Congratulations on making a tough call.

http://www.indietalk.com/showthread.php?p=281187#post281187

Sucramdoow said:
In any case, we still have a long way to go! Any help is much appreciated!

Understatement
of the Day
Award!

I hope this helps.

rayw · Aug 15, 2012

Interesting.
It seems early summer has a boatload of crowdfunding campaigns being initiated, but man they thin out across the summer.

Still interested in seeing how these develop going into the autumn and winter months.

(PS, Whole lotta new "faces" around here. IDK most of the current batch of "regulars." )

Andrew McCarrick · Aug 21, 2012

Andrew McCarrick said:
Everythings fine... Just after a couple of weeks with no movement, I just anticipated it was going no where. I'm also working on a slate of 7 other projects... The SEC is lifting the ban on general solicitation on August 22nd, so I'm packaging together all of my films, and seeking investors for the full slate instead of going the donation route; hoping the diversification route (with multiple films) and an equity stake will entice people.

Since canceling the kickstater, I've been getting my website together, so I can screen for qualifying investors, and release information to them (while complying with the securities laws)... http://www.area51entertainment.co/ and re-doing my business plans. I've pretty much been getting out of bed and working 12-14 hours a day straight on the website and business plans for the past week. I've got a plan for my main company Area 51 Entertainment (which is 104 pages long), plus other plans for each individual film.

And just to cover my ass, since General Solicitation isn't legal yet:
This post does not constitute an offer to sell, or a solicitation of an offer to purchase, securities.

And now the SEC has decided that they're postponing the new rules... got another two to four months now before I can do this... Always my luck... Whenever I need something to happen it never does or gets pushed back to where it's almost useless.

rayw · Aug 21, 2012

AMc -
Good Lord. I hate it when the gubberment buggers a perfectly good plan.
(On a completely unrelated note, a few years back the Federal Reserve in early OCT 2008 made announcements of a few radical changes to the banking system a day after I when whole-hog shorting the market.
I got margin called which detonated the entire account back to the stone age.
Niiiiice.
Love government intervention at inopportune times.)
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&st=2008-08-01&en=2009-04-01&id=p18370076297

PaperTwinProductions -
When you going to do another one of those awesome IGG top projects sweeps?
http://twitter.com/PTPfilms

MetalRenard -
What's the status of your involvement with the 'Romantically Apocalyptic' project?
http://www.indiegogo.com/ra-books

Andrew McCarrick · Aug 21, 2012

What's worse is congress passed a law, back in April, that forced them to do this... and they had 90 days to comply.... they were supposed to finalize the rules on or by July 4th... they're now a month and half late...

directorik · Aug 21, 2012

And we want the government to handle our healthcare....

But, of course, they will handle THAT better.

Andrew McCarrick · Aug 21, 2012

I'm almost ready to just do an IPO but that would cost $100k-$300k... You're required to get a $7k audit, file paperwork with the SEC which also has a % filing based on how much you're trying to raise, then the $10k to $15k to file for each state you want to sell the shares in.

EDIT: Screw it... I'm just done. No more entertainment industry for me. Clearly never going to raise the money I need.

Lucky Hardwood · Aug 23, 2012

Don't give up. If it was easy to do it wouldn't be worth doing.

matthattar · Aug 23, 2012

Wow, there are some great looking projects on here. Thanks rayw for the thread!

Our project went live Monday on Kickstarter, and we have $85 so far from 2 contributors. I've learned a lot after discovering this thread and reading the experiences of others. I might have to change a few things. Here's our link: http://www.kickstarter.com/projects...-a-time-travel-adventure-film-in?ref=category

Any advice is appreciated. Thanks for checking us out!

Artificial · Aug 23, 2012

matthattar said:
Wow, there are some great looking projects on here. Thanks rayw for the thread!

Our project went live Monday on Kickstarter, and we have $85 so far from 2 contributors. I've learned a lot after discovering this thread and reading the experiences of others. I might have to change a few things. Here's our link: http://www.kickstarter.com/projects...-a-time-travel-adventure-film-in?ref=category

Any advice is appreciated. Thanks for checking us out!

No advice(I've never even made a short), but I sent a little cash your way. Good luck.

matthattar · Aug 23, 2012

No advice(I've never even made a short), but I sent a little cash your way. Good luck.

Thanks so much for the support Artificial!

rayw · Aug 23, 2012

$110,000 by Monday Sep 3: Unfunded http://www.kickstarter.com/projects/lakestreetfilms/the-amber-project
http://www.indietalk.com/showthread.php?t=42062

Clyde - The Webseries - seeking $8,000 by Thu Sep 06: In "draft" mode. ?? Presumably unfunded
http://www.indietalk.com/showthread.php?t=41859

Brain Eaters - seeking $850 by Friday Sep 7: Unfunded http://www.kickstarter.com/projects/lovelydeadfilms/brain-eaters
http://www.indietalk.com/showthread.php?t=42346

ODD - seeking $4,000 by Sat Sep 08: Partially Funded http://www.indiegogo.com/odd?c=home
http://www.indietalk.com/showthread.php?t=42736

Trapped in Time 3D! - seeking $10,000 by Wednesday Sep 19 Unfunded http://www.kickstarter.com/projects...-a-time-travel-adventure-film-in?ref=category
http://www.indietalk.com/showthread.php?p=283437#post283437

Blew - seeking $4,000 by Saturday Sep 29 Unfunded http://www.kickstarter.com/projects/703639991/blew
http://www.indietalk.com/showthread.php?t=42785

Bimbo Zombie Killers - seeking $6,000 by Tue Oct 02: Unfunded http://www.indiegogo.com/BZK?c=home
http://www.indietalk.com/showthread.php?t=40686

The Dark Master: Battle in the Courtyard - seeking $250 by Saturday Oct 6 Self Cancelled
http://www.indietalk.com/showthread.php?t=42886

* * * * * * * * E X P I R E D * * * * * * * * * *

Sam's Story - is seeking $20,000 by Sunday Oct 7
http://www.indietalk.com/showthread.php?p=288808#post288808

The Anachronist | A Steampunk Short Film - seeking $17,000 Sunday Oct 7
http://www.indietalk.com/showthread.php?t=43154

A LESSON IN TORTURE - seeking $20,000 by Thu Oct 11
http://www.indietalk.com/showthread.php?t=43076

* * * * * * * * C U N C H - T I M E ! ! ** * * * * * * * * *

Club Vamporama Website and Promotion - seeking $1,000 by Fri Oct 19
http://www.indietalk.com/showthread.php?t=43082

Who's There? - is seeking $500 by Friday Nov 2
http://www.indietalk.com/showthread.php?p=289498#post289498

Paul and the Hooker - seeking $10,000 by Nov 4
http://www.indietalk.com/showthread.php?t=43323

Finding Me - is seeking $50,000 by Mon Nov 12 >> Lowered goal to $20,000 <<
http://www.indietalk.com/showthread.php?t=43376

Wasp - seeking

$150,000 by Fri Jul 05, 2013
http://www.indietalk.com/showthread.php?t=41474

A few of those have concluded or are about to.
Anyone care to share their experiences?

For those of you still running I hope this post brings another round of attention to your projects! GL! :yes:

rayw · Aug 23, 2012

matthattar said:
Wow, there are some great looking projects on here. Thanks rayw for the thread!

Excellent!
Looks like you guys are having a great time yourselves!
Would be nice if you could somehow monetize your past/current efforts!
That would be a great lesson to teach the young adults: Building and buying within your means! :yes:

Parquét floors, wolf/zero in the kitchen, and his-N-her tiled showers are great! But you can't afford it.
Same thing.
A little of the "business" side to show business.

Any advice is appreciated. Thanks for checking us out!

You should start a new thread, typically in the 'Promotion' forum ( http://www.indietalk.com/forumdisplay.php?f=152 ) so that when events develop you can keep your project in the eyes and minds of your potential donor pool.

Remember, with marketing you gotta turn off all sense of propriety.
You might find some useful information in here: http://www.indietalk.com/showthread.php?t=38636

Honestly, it's your own students/cast&crew's social media networking efforts that will have the greatest impact and is the best resource to cultivate.

We all know about film trailers.
Now we have teasers for trailers themselves.
Any posters you come up with are good to circulate - ONLINE for free!
Probably ought to set up a blogger.com or wordpress.com site just for the film.
And always ask that if someone can't make a $$ donation, will they at least social media link your project all over the place.
Six degrees of spamulation - I mean SEPARATION!, and all that.

Good Luck.

Ray

matthattar · Aug 23, 2012

Thanks Ray - Great advice!
And thanks also for the quick reply.

rayw · Sep 5, 2012

Anyone know what "Draft mode" is @ IGG?

Amber didn't make it. Not surprised only because of that whopping budget, but the concept is interesting.

Brain Eaters needs money for better equipment. Anyone wanna help?

Odd is... actually doing pretty good about getting to their goal.

Something I just wanna plop out here: Too many folks are waiting until the last gasping second in the whole process to both post their KS/IGG campaign and to post here at IndieTalk that a campaign even exists.

Some folks, like Wolf, have been yabbering about he's going to, he's going to, he's going to half a year before he actually does post the crowdfund campaign.
THAT'S A GOOD THING!

It's kinda goofy to me when I see someone's two or three weeks into their 30 day campaign - and then they post here they have some something going on.
Pfft! I just don't... Okay. GL! :rolleyes:

Let people know you're coming.
ASAP, ask them to gather around.
Do your dog and pony show.
Then start doing your filmmaking thing.

rayw · Sep 10, 2012

PaulaGomezDeC -
Congrats on your substantial portion of target funding!
ODD looks like an interesting project that I hope to see the finished product.
Please post a link when it's completed!

Matthattar -
"$190 pledged of $10,000 goal, 9 days to go"
I hope you're still cruising the IT waters on occasion.
As a teacher/leader of students I'm very interested in your collective experiences and the take-aways you and your students have formulated from the promotion of your project.
If you're still here please share just a brief overview.

GL, everyone. :yes:

> My Crowdfunding Experience

rayw

rayw

directorik

IndieTalk's Resident Guru

rayw

Andrew McCarrick

rayw

rayw

Andrew McCarrick

rayw

Andrew McCarrick

directorik

IndieTalk's Resident Guru

Andrew McCarrick

Lucky Hardwood

matthattar

Artificial

matthattar

rayw

rayw

matthattar

rayw

rayw