'Crowd-Funding', Film-Makers Tap Social Media for Funds
By siliconindia   |   Tuesday, 27 December 2011, 00:03 IST
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\'Crowd-Funding
To make an effect globally, the funding is not restricted to only major production houses; start-up like Springboard Ventures has also tied up with crowd-funding platform like Film Interactor International. Satish Kataria, Managing Director of Springboard Ventures said, "We are going to aggressively look for projects, including funding for the print and advertising aspect of films. The aim is to mobilize between 50 lakh and 4 crore across projects." Investors feel that they aim at bringing out the advanced product and monetize it through searching for new audiences. "The idea is to promote new and exciting content and package it in a way that it attracts new audiences. So far, Indian cinema has been extremely self-consuming. It has catered only to domestic audiences and the Indian Diasporas. That needs to change," said Dhingra, Managing Director of Oasis Motion Pictures. Though the business of film making can be money losing, money sourced by crowd funding is investment not charity. The film producer enters a contract with its investors and promise to pay them certain amount of profit that film earns after its release. The model is slowly gripping the market as it is still evolving in India. As filmmakers are not only daring to explore offbeat content but also guaranteeing returns to investors is a huge development. Sites like Kickstarter.com, Film Interactor and Indiegogo are turning beneficial for independent film makers especially when financing of films has been hit hard by the ongoing credit crunch.

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