Does your PEG access community have the talent to produce a documentary or short-form video but lack resources to cover production costs? If so, maybe it’s time to take a page from the book of hottest trends to raise the necessary capital.
Most notable PEG video productions were typically the province of a few well-funded public access media channels that had a strong working partnership and support of the local cable franchise, civic and corporate leaders, and the community. While still true today, there’s now another source of finance that should be considered, too—crowdfunding.
For example, Jeff Dobbs, a small time video and film producer, sought needed funding to the tune of $54,000 to finish production of his documentary film, The Life of Ralph Stanley; Master Wooden Boat Builder. To accomplish this, he decided to augment his fundraising efforts with the popular online crowdfunder known as Kickstarter.
Dobbs’ documentary highlights an icon of Maine’s maritime heritage, Ralph Stanley. He’s a recipient of the nation’s highest honor in the folk and traditional arts from the National Heritage Fellowship, including recognition from a sitting President along with numerous institutions for his life’s work in boat building.
Even though Stanley hails from such an unheard of place as Mount Desert Island in Maine, his nautical significance resonates throughout the culture heritage of coastal New England. This kind of regional and national significance makes crowdfunding not only possible but also more likely.
What is crowdfunding? Essentially, crowdfunding is collaborative funding via the World Wide Web from like-minded donors. Since 2005, there have been dozens of websites pop up that claim to be the “source” for all kinds of funding projects.
In the Crowdfunding Industry Report, Massolution presents data showing the overall crowdfunding industry has raised $2.7 billion in 2012, across more than 1 million individual campaigns globally. In 2014 the industry is projected to grow to $5.1 billion.
There are 2 main models or types of crowdfunding. The first is what’s called donation-based funding. The birth of crowdfunding has come through this model, where funders donate via a collaborative, goal-based process in return for products, perks or rewards. It’s important to note that donors are not “investors,” at least not in the traditional sense.
The second and more recent model is , where businesses seeking capital sell ownership stakes online in the form of equity or debt. In this model, individuals who fund become