Indiegogo_HP - H 2015
Courtesy of indiegogo.comThis story first appeared in the June 5 issue of The Hollywood Reporter magazine. To receive the magazine, click here to subscribe.
INDIECROWDFUNDER
Fees: Issuers pay $2,000 or more for “due diligence, background checks,” plus 5 percent for raising more than $1 million; 6 percent for less than $1 million.
Buzz: Filmmakers can raise cash for 35 to 120 days per film. Minimum budget: $100,000. Also for movie slates. (Schuyler Moore is on the advisory board.)
SLATED
Fees: Five percent management fee and 5 percent profit share.
Buzz: Accredited investors only, typically with more than $10,000 to invest in projects needing $1 million to $25 million. Caters to those wishing to invest in several individual film titles from established filmmakers.
VENOVATE
Fees: To be determined June 19.
Buzz: The company handles a large range of asset classes, which theoretically could include movies, though no filmmaker yet has tried. No limit on amount of investments, though minimums will be applied on a case-by-case basis.
CROWDFUNDER
Fees: Subscription model with a basic plan starting at $299 a month.
Buzz: Neil Young and Quincy Jones have raised money on this open platform, though not for films, which still are a small part of its business. Filmmakers may offer investors a share of revenue, even for flops.
INDIEGOGO
Fees: N/A
Buzz: Already a well- known leader in rewards-based crowdfunding for film and TV projects (40,000 film campaigns have launched thus far), the company says it is considering getting into equity-based backing as well, whereas rival Kickstarter says it will not.
