Indiegogo

Definition

Indiegogo is a crowdfunding platform that allows individuals and organizations to raise money for projects, products, and initiatives through small contributions from a large number of people. This platform has transformed how filmmakers and creators finance their work by enabling them to connect directly with their audience and bypass traditional funding routes, such as studios and investors. Indiegogo supports various creative projects, including films, by providing tools for marketing, funding, and community engagement.

5 Must Know Facts For Your Next Test

1. Indiegogo was founded in 2008 and has since become one of the largest crowdfunding platforms in the world, hosting thousands of projects across various categories.
2. The platform offers flexible funding options, allowing creators to keep the funds they raise even if they don't reach their goal, unlike some other platforms.
3. Filmmakers use Indiegogo not only to raise money but also to build an audience and generate buzz for their projects before they are completed.
4. Indiegogo features an array of tools for creators, including promotional strategies and analytics to track campaign performance, which enhances their chances of success.
5. The success stories on Indiegogo have inspired many filmmakers and artists to explore crowdfunding as a viable alternative to traditional funding methods.

Review Questions

• How has Indiegogo changed the traditional landscape of film financing?
  • Indiegogo has revolutionized film financing by providing filmmakers with direct access to potential backers and enabling them to fund their projects without relying solely on traditional sources like studios or investors. This shift allows creators to maintain greater creative control over their work while also fostering a community around their projects. The ability to connect with audiences early in the production process can create a loyal fanbase that can support the film’s development and marketing efforts.
• Discuss the advantages and challenges filmmakers face when using Indiegogo for crowdfunding.
  • Filmmakers benefit from using Indiegogo as it provides them with an opportunity to raise funds quickly while building an engaged community around their project. The flexible funding model is another advantage, as creators can retain whatever funds they raise. However, challenges include the need for effective marketing strategies to stand out among numerous campaigns and the pressure to deliver on promises made during the fundraising process. Additionally, filmmakers must be prepared for the reality that not all campaigns achieve their funding goals.
• Evaluate the impact of Indiegogo's crowdfunding model on the future of independent filmmaking.
  • Indiegogo's crowdfunding model is likely to shape the future of independent filmmaking by democratizing access to financial resources for creators who might otherwise struggle to secure funding through traditional channels. This trend encourages innovation and diversity in storytelling, as more filmmakers can pursue unique projects without conforming to mainstream industry standards. Moreover, as audiences increasingly participate in funding decisions, there is a shift in power dynamics within the film industry, leading to a broader representation of voices and ideas in cinema.

Related terms

Crowdfunding: The practice of raising funds for a project or venture by soliciting contributions from a large number of people, typically via the internet.

Kickstarter:

A popular crowdfunding platform similar to Indiegogo that focuses on creative projects and requires project creators to set specific funding goals.

Equity Financing: A method of raising capital by selling shares of a company to investors, who then own a portion of the business and its profits.