Get to grips with crowdfunding at FIFO!
The concept is not as new as all that, as already in the 1880s the construction of the Statue of Liberty took place thanks to a call for funding from the population. Surprising that the 19th century already had 21st century modernity in sight! The difference is the web phenomenon and social networks that bring another dimension to this new collaborative economy. Lola Joly explains the ropes of her participative funding platform (crowdfunding) entirely dedicated to cinema and audiovisual, Touscoprod.
The audience is at the ready, an audience of professionals that already have a film, short film or documentary project in mind… And the questions flow freely. Is Touscoprod a multi-lingual platform? What remuneration does Touscoprod take?
The public is already familiar with the concept. What if the fund raising doesn’t reach the amount required?
There were many questions to animate this conference at the 13th FIFO. We know that producing a film, whatever its category, costs money. Here, Touscoprod becomes the showcase of future film to the general public before the screening. The project needs to be appealing for people to invest money. It’s a way of testing the project before production.
Several hints and tips are given regarding how to lead a successful campaign on Touscoprod. Golden rule: always communicate positively! The amount contributed can be predefined or not. The ideal is to propose different amounts but also to give a free choice to the ‘coprod,’ a pseudonym given to new investors, investors who will be thanked in several ways according to the level of investment in general. This may range from a free DVD to the opportunity to spend a day on set including discovering behind the scenes at the preview.
Records for fundraising on Touscoprod can reach substantial amounts like the feature film with Michel Laroque that raised 420,000 euros. Just as encouraging, many films partly funded via Touscoprod have been selected by many festivals. It is therefore possible, and there are many people ready to contribute to a film project!
To end on an amusing note, via another crowdfunding platform not dedicated to audiovisual, no less than $55,000 was raised to prepare a giant potato salad in the United States!