Indiegogo

Definition

Indiegogo is a crowdfunding platform that allows creators to raise funds for various projects, including films, by connecting them with backers who want to support their ideas. This platform empowers filmmakers to secure financing directly from potential audiences and supporters, thereby bypassing traditional funding sources like studios or investors. It also offers flexible funding options, making it accessible for a wide range of film projects, from independent shorts to feature-length films.

5 Must Know Facts For Your Next Test

1. Indiegogo was founded in 2008 and has become one of the largest crowdfunding platforms available for filmmakers and other creatives.
2. The platform allows for both fixed and flexible funding options, meaning creators can choose whether they want to keep the funds raised regardless of meeting their goals or only if they reach a specific target.
3. Filmmakers on Indiegogo often provide perks or rewards for backers, ranging from credits in the film to exclusive merchandise or early screenings.
4. Indiegogo has a strong community aspect, encouraging interaction between creators and backers, which can foster a dedicated audience for future projects.
5. Success on Indiegogo can help filmmakers not only secure funding but also generate buzz and build an audience before the film is completed.

Review Questions

• How does Indiegogo differ from traditional film financing methods such as studios and investors?
  • Indiegogo differs from traditional film financing by allowing filmmakers to directly connect with their audience and potential supporters for funding. Instead of relying solely on studios or investors who may have specific criteria and demands, filmmakers can present their projects to the public and raise funds from individuals who believe in their vision. This democratizes the funding process, enabling more independent films to get off the ground while also allowing backers to feel personally invested in the success of the projects they support.
• What are the implications of using a platform like Indiegogo for film financing in terms of audience engagement and marketing?
  • Using Indiegogo for film financing has significant implications for audience engagement and marketing. Filmmakers can actively involve their backers in the creative process through updates and feedback, fostering a sense of community around the project. This not only helps generate interest but also builds a loyal audience base that is likely to promote the film through word-of-mouth. Additionally, successful campaigns can serve as valuable marketing tools, creating buzz that can attract further attention when the film is eventually released.
• Evaluate the long-term impact of crowdfunding platforms like Indiegogo on the independent film industry and traditional financing models.
  • Crowdfunding platforms like Indiegogo are reshaping the independent film industry by providing alternative financing options that challenge traditional models. These platforms empower filmmakers to take creative control over their projects while allowing them to bypass some constraints imposed by traditional studios and investors. This shift not only diversifies the types of films that can be made but also encourages innovation and experimentation in storytelling. As more filmmakers successfully use crowdfunding to launch their careers, it may lead traditional financiers to adapt by becoming more open to unconventional projects or exploring partnerships with crowdfunding platforms, ultimately changing how films are financed and produced.

Related terms

Crowdfunding: A method of raising money from a large number of people, typically via the internet, to fund a project or venture.

Kickstarter:

Another popular crowdfunding platform similar to Indiegogo, where creators can launch campaigns to gather financial support from the public.

Equity Financing: A method of raising capital by selling shares in a project or company, allowing investors to gain ownership stakes.