Do you spend your spare time deep-sea diving in a vault of gold? Then you now may be able to donate to new films starring big stars such as Tom Hanks and Chiwetel Ejiofor through a new site dubbed as ‘Kickstarter for the rich.’
Set up by film investment company Junction, the new fund-raising platform is open only to those with an annual income of more than $200,000 (£120,000) or a net worth of at least $1m (£600,000). Unlike the crowd sourcing site Kickstarter, which anyone can donate whatever they wish, it aims to inject money into already green-lit films rather than trying to get projects off of the ground. Investors, also, may see a return on their investment rather than Kickstarter’s non-payment rewards; which can range from a day on set to a T-shirt.
According to film website The Wrap, films currently trying out the San Francisco company’s new approach to financing include the Tom Hanks-starring A Hologram for the King, based on the novel by Dave Eggers, the author of A Staggering Work of Heartbreaking Genius. A campaign has also been set up for crime drama Triple Nine, which will star Chiwetel Ejiofor alongside Casey Affleck, Kate Winslet, Aaron Paul and Woody Harrelson.
The new approach echoes more traditional forms of film investment – which can occasionally go outside of Hollywood financing – but offers financiers the advantage that outside investors will help them recoup some of their initial risk. Kickstarter campaigns such as those for Zach Braff’s film Wish I Was Here have received criticism in the past for using fan donations on top of professional financing and not having to offer any financial rewards to donors if the film makes considerable profit.
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