Hollywood is preparing for what could be a tectonic shift in the way it does business: crowdfunding. While it was locally made, independent films that were the first to latch onto crowdfunding sites like Kickstarter,Indiegogo, and Gofundme, the concept has moved up the film world’s power ladder with West Hollywood production company Five by Five Media forming a strategic partnership with a crowdfunding site called EarlyShares.com, with its sights set on equity rewards for funding films.
“Commercially successful entertainment comes from talented people receiving the money they need to execute on great ideas,” said Guy Zajonc, chief executive of Five by Five Media in a statement. “People who watch are about to become the people who invest and we are talking about millions of them. Crowdfunding will fundamentally change this industry and the perfect partner for us is EarlyShares.com”
With the likes of Dwayne “The Rock” Johnson, who has 3.6 million Twitter followers, already signed on a a “partner” in the Five by Five Media project, the potential of a crowdfunded movies becomes readily apparent, even if it won’t be fully implementable immediately.
- Cutting Edge Crowdfunding Site EarlyShares Strikes Deal With Hollywood Studio to Crowdfund Future Movie, Film, TV, Music and Other Entertainment Projects (sys-con.com)
- The Top 10 Crowdfunding Platforms According To 3P (crowdfundingtimes.wordpress.com)
- Curious about Crowdfunding? (blogs.scientificamerican.com)
- 15 Of The Hottest Crowdfunding Sites Out There (businessinsider.com)