Categories
These Are Those Things

“When Times Are Tough, MAKE GOOD ART”

“The rules on what is possible and impossible in the arts were made by people who had not tested the bounds of the possible by going beyond them. And you can.”

This is a line from a great commencement speech Neil Gaiman gave at the University Of The Arts. You can read the whole beautiful thing here:

http://www.uarts.edu/neil-gaiman-keynote-address-2012

Or watch it here:

Categories
Issues and Actions

FILMONOMICS: 7 Silicon Valley Secrets for “Social Proof”

By Colin Brown

In The Wall Street JournalSlated was described as “Soho House for film financing, due to the requirement that you must be invited to be a member.” Another point of reference could just as easily have been AngelList. For those unfamiliar with this game-changing website, AngelList is a powerful funding vehicle that connects startups with a who’s who of early stage venture capitalists, high-net-worth individuals and angel investors. Simply put: AngelList is to Silicon Valley what Slated is to the film industry. 

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The parallels are close enough that AngelList serves as an instructional laboratory for anyone wanting to know how best to take advantage of their presence on crowdfunding platforms. It helps answer the first question asked by many newly enlisted industry executives still getting their heads around social leverage as a film financing tool, namely: ‘what do we do now?’

AngelList is a transformation-in-the-making that points the way forward for other long cloistered industries including entertainment. While the basic principles for investing in startups remains pretty much the same, the tactics have been evolving fast. You could say the same about film investing. Every few months, in fact, AngelList inspires a revised set of behavioural tips and conduct codes for successful fundraising, smarter investing and more effective profile-building in that particular sandbox. Here are links to five such lists: 

All these articles are worth reading for their own sake, if only to get a keener sense of how Silicon Valley thinks about the business of backing disruptive ideas. As you read, keep in mind too that today’s technology angels are likely to be tomorrow’s film investors – and that these are the investment rules and social metrics that they’ll choose to play by.

But for those in film who like to cut to the chase, I have synthesized these fifty-some observations and distilled them into seven core pointers that are of more immediate relevance to equity crowdfunding platforms such as Slated. In so many ways these tips are simply adaptations of what already works in the elaborate real world of film networking – only they have the potential to work much faster:

  1. BUILD YOUR DREAM TEAM: whether it’s a startup or a film project, seed investors will look for same basic elements – a strong team, meaningful milestones and a differentiated product in a clearly identified market. Success hinges on “social proof.” Surround yourself with a proven filmmaking team and, where possible, attracting an influential champion as anchor investor or company affiliation. Make sure that all your big-name supporters take the trouble to fill out their online profiles and then endorse you to their own followers. It sends out a strong credibility signal.
  2. BE ROCK SOLID FROM THE START: because first impressions count, it pays to spend time and energy getting it right. Putting in a half-baked effort has been described as a cardinal sin; film investors might say similarly about potential projects. Arrive as fully packaged as possible with verified talent, detailed financials and company affiliations, and with as much collateral material as you can muster. A website with a good URL, a killer video, a twitter presence, social media mentions and any metrics demonstrating film comparables, global book sales, YouTube hits, fan-base followings etc. can only help in conveying early traction and a pre-disposed audience. Doing this work upfront will make your profile pop.
  3. RESEARCH AND RIFLE TARGET: Advanced filters on Slated make it easy to find both accredited investors and all the films that have reached their financial targets. Before listing on the site, begin to reach out to those on Slated you already know so that your project is instantly embraced. Once on Slated, resist the scattergun approach. Spend time to target your ideal short-list of suitable investors and pinpoint strategic partners based on required elements besides just money. Knowing what you need is seen as a positive; but approaching investors who clearly wouldn’t invest in your kind of project is a telltale sign of a rookie.
  4. KEEP YOUR PROFILE ACTIVE AND GET PERSONAL: Slated is a momentum-driven platform where hot projects get hotter. You need to generate buzz through a constant communal hum. Personalized Introductions help enormously. Because syndicating funding rounds is a big part of what investors do, investor intros get opened far more than a generic profile. In addition, get your most influential supporters to promote you using the Track and Share buttons. Feed them sound bites if necessary – anything to keep your profile from growing stale through inactivity. “Game” the system by making constant updates to your profile, as such changes will show up in the weekly news feeds that get disseminated to members. While it certainly pays to keep Slated abreast of your entire production history at frequent and regular intervals, it is not in your long-term interest to overplay this card. In ensuring visibility for your project, make sure you are adding value to the group, not detracting from it.
  5. BE RESPONSIVE AND READY TO PITCH: fast responses have been shown to increase your chances of closing a deal. Fortunately, you have all the tools you need these days to pounce quickly. You can communicate with them visually via Skype, Gmail video chat, Go2meeting and so on, for which you should have your pitch documents always ready to hand. And services like Tout will allow you create what seems like a personalized email the moment an investor asks for that intro. The key is to follow up within hours. Some Silicon Valley investors believe there is a strong correlation between those that respond to late night emails and their entrepreneurial commitment.
  6. SPUR INVESTORS INTO ACTION: getting an investor to actually commit on the dotted line is a challenge facing all those in search of financing. While many other factors come into play, nothing quite beats fear and greed as investment catalysts. Investors afraid of missing out on an opportunity that is simply too good to pass up will tend to be the most motivated. Setting an artificial funding deadline only works if the prospective investor knows that the deal has a real chance of being taken off the table beyond that date. A more affective deadline might be a looming production date, an irreplaceable actor’s tight schedule, or a pre-emptive deal offer ahead of an industry event such as a film market. Best of all is the prospect of a bidding war that will lead to a skyrocketing valuation unless the investor jumps in now.
  7. TRACTION IS THE NAME OF THE GAME: while it is easy to obsess entirely on fundraising, it is worth keeping in mind that Slated offers other commercial pay-offs beyond just the quick hustle. Getting a great sales agent attached is worth its weight in distribution gold. So too is the sustained industry awareness that can be built around your project if you take the time to make measurable, meaningful progress with your Slated film. If nothing else, you will have a giant head start over other films of comparable quality when your project starts being shopped around at film markets. The perceived value of your project will rise commensurately. Given the sterling pedigree of Slated’s network of investors and industry players, there is surely no more cost-effective way of standing out from the noisy, global crowd.

And, finally, be aware that you are at the forefront of transformational change. As such, the rules of engagement will be in an inevitable state of flux, particularly in these early learning days.

Colin Brown

Editorial Director of Slated

Categories
Issues and Actions

Everyone Benefits From Crowdfunding When Anyone Benefits From Crowdfunding

Check out “Kickstarter: Fan Empowerment … or Exploitation? “on Metro Magazine on why I think crowdfunding is so powerful – scroll to bottom here to find it: http://www.metromagazine.com.au/magazine/index.html

Categories
These Are Those Things

From Last Week’s Tragic Artist

If you watched “RYAN” last week on this blog, you know of which I speak. If you haven’t start there and then come back.

This short was conceived and animated by Ryan Larkin.

Walking by Ryan Larkin, National Film Board of Canada

Categories
Truly Free Film

We Are Now Corrupt And Lack Real Ambition, But…

I watched four movies the other day, and it was a wide variety at that.  This is my favorite time of year — the time when film festivals entice me to binge on numerous occasions for numerous days in a row. Yet, I am entering this season, with some real dread: a fear that my most recent conclusion will soon be verified.  I know I can never get enough movies but at the same time I think we need to halt much of what we are doing — if not making the films, then some of the ways we go about it.

For the first time in about twenty five years, I have had a year off from truly producing. I am not trying to earn the lion share of my income from generating new work, and after being slave to that dictate for so long, it is a welcome relief that hopefully grants me some new perspective. Nonetheless, I still define myself as an indie producer, and as such now damn myself as well as all my comrades when I look at our culture, its results, and I attempt to see things as they really are.

Indieland is cursed.  We are sick and infected.  

Categories
Issues and Actions

Join Me at TIFF2013 Financing And Packaging Panel

Join me, Rena Ronson, Brian Oliver, Paul Miller, & Andrew Eaton @ TIFF Financing & Packaging Panel Saturday Sept 7 1130A Hyatt Regency Hotel, Toronto.  Sydney Levine moderates. This is going to be a good one, chock full of the information needed to get your movie made, and populated by a group of diverse perspectives.

“an intimate conversation on pulling it all together, either when working from an indie structure or when established resources are available”

But it should be FUN because I believe that virtually EVERYTHING that is considered “best practices” in terms of Indie “Financing & Packaging” is absolutely wrong — and I have a better way to offer!

Categories
Truly Free Film

The WASTELANDER PANDA Saga! Part 2. Promotion: How We Drove our Prologue to 100,000 views in 3 Days

by Kirsty Stark (Producer), Ella Macintyre (PMD) and Victoria Cocks (Writer/Director)

Part 2. Promotion: How We Drove our Prologue to 100,000 views in 3 Days

The day we posted our three-minute Wastelander Panda Prologue online, our intention was to share it with friends, with the hope that others would also enjoy it.  The accessibility and overwhelming amount of content on the Internet gives you a sense that you can easily put something up and people will find it.  What we realized is that realistically, you have to put it in front of them.  The evening we uploaded it, we happened to be at our friend Ella Macintyre’s house.  She’s one of those people that has grown up on the Internet, and knows it backwards and forwards – which blogs are owned by which media companies, who pays attention to whose content, and how information spreads from one place to the next.  The first thing she asked us was “So, where are you sending this thing?”

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Despite our initial ignorance, and lack of prior planning, we managed to have our Prologue seen by over 100,000 people in its first three days online.