Opening our movie to the general public for investment has been something we've wanted to try ever since meeting producer AD Lane who seems to be making successful use of this strategy (more about that here).
Now that we have a solid script, we've had a look into what websites are out there. Special thanks to my colleague Andrew Faure for the research below.
- Kickstarter: Respected name, but currently requires a USA bank account and address to use the site, so that cuts us out. Secondly it is all or nothing – meaning we set a goal of the money we want to raise, and if we raise that we get to keep it, if we don't hit our goal, all money that was pledged goes back to the people who gave it to us and we get nothing. Some other sites will give us whatever we do manage to raise.
- Chipin: People can only pay using Paypal. Looks a bit amateur.
- Cinema Reloaded: This is a specially set up website for 3 specific films. It is not a site we can use. However it seems to be a group of film-makers (like us) who are crowd-funding a slate of 3 films have set it up with a unique angle to fund their 3 films.
- Ulule: They don't charge any fees. People an only pay using Paypal, and the money is paid directly into our Paypal account. You have to set a target, and if you do not reach that target then you do not get anything. We are not allowed to have our project listed on any other fundraising sites.
- Biracy: This website is also to fund a specific project and it seems a bit Multi-Level Marketing. Definitely not what we're looking for.
- InvestedIn: Not bad, and they have two options: set a goal and if this goal is not reached then you get nothing. Set no goal, and just collect as much as you can in a specific time period. You can only use Credit Card to pay – not everyone will have a credit card. They do not charge a fee.
- Rocket Hub: Set goal, and if not reached, you do not get anything. They take 8% fee (transaction costs included). Seems like a good site, with s slightly different approach. Nice design as well. If you decide to donate money, you need to first sign up, which could be a bit of a pain and slight deterrent of someone just wants to donate a few dollars.
- Massify: More a networking site than funding site.
- Indiegogo: Set goal, but if you don't reach your goal you still get whatever you raise. People can pay via Paypal or Credit card. They take 9% fee (but return 4% if you reach your goal).