What is happening lately with Crowdfunding? I am not talking about the backers as their generosity seems without limit but the campaigns themselves.
I will share my thoughts on the subject:
1/ Campaigners are setting impossible goals.
More and more campaigns seem like coming out of an individual fantasy more than a rational need. Overtime, the $5000 campaigns we were used to don't seem enough to pay for an iPhone made film by a first time Director and crew.
Now don't get me wrong, I helped many big campaigns, up to 100,000 and had no problem with it whatsoever. I either knew the person, they had a background or I was given a financial breakdown of the amount they were looking for. This leads to my second point.
2/ We should be more careful on social media and other platforms.
Lately in the press we witness companies that were financed through crowdfunding going belly up, or other projects that are nothing but scams. I will keep this post around indie films and other artists related if you don't mind.
Because they hammer you through social medias doesn't mean that you have to jump in blindfolded.
The first thing to look for: background of the person/company. Do they have a YouTube channel? Did they make any short film or help on a project from the inside? if yes, and depending on your judgement I would say go for it.
Secondly, one of the rules I am following is, no matter the amount I wish to pledge or the help I am willing to give: if the amount is higher than $5,000 I ask to see a financial plan. If they don't have one, chances are they don't know what they are doing, or the numbers are pure fantasy.
As someone that helps artists with crowdfunding campaigns it is also a duty to warn of the downsides.I can assure you that I am taking all the measures to promote real and trusty campaigns. So far so good. But please keep your eyes and mind wide open, the world of crowdfunding is changing.