Changing the Face of Film Funding: Seed&Spark

14 January 2013

Taking pen to paper and writing a great screenplay is hard enough, but securing funding to convert the dream to reality and getting the film in front of an audience represents another mountain of challenges to overcome. Seed&Spark, a film-focused crowdfunding startup based in San Francisco and Brooklyn, New York, was built to help independent filmmakers get their projects through the wilderness and into the Promised Land.

According to founder Emily Best, who currently holds an 84% stake in the soon-to-be-launched company, what sets Seed&Spark apart from other crowdfunding organizations that can raise capital for filmmakers is that it acts as a distribution hub as well—offering a platform where films can be uploaded and then rented or bought by viewers who can stream them from the company’s site. Additionally, the company offers not only a means of raising funds, but also allows fledgling filmmakers to ask for the loan of items they need as they make their films, such as vehicles, clothing, or other types of gear. Aspiring actors or film crewmembers may also peruse job openings posted for the projects on the site.

 

Seed&Spark allows donors to give money for requested items or simply loan them.

How It Works…

A filmmaker with a project submits a crowdfunding campaign plan, including itemized budget – or ‘wish list’ – of things required for the completion of the film, with their costs. The crowd can either choose to donate to fund the filmmaker’s needs or loan items, for which the donor can receive a shout-out in the credits or other gifts. Capital is released to the filmmaker once 80% of the desired sum is in place. “At 80%, any filmmakers worth their snuff will be able to make their film,” said Best.

Once the film is finished it can be uploaded to the site and viewed for a sum. By the first quarter, 2013, filmmakers who have not used Seed&Spark to fund their films will be able to upload their independent films to the site for viewing. Site members who recommend Seed&Spark films to others, mention them on message boards or show engagement or participation in getting the word out about them will receive site credits and can watch movies on the site for free. Other distribution angles, such as festival submissions, YouTube, etc., are up to the filmmaker.

“We could really restore the notion of independence to independent film,” Best said.

Seed&Spark’s revenue model is to take 5% of funding that comes in from donors funding projects and 20% of revenue from viewers paying to stream movies from its site.

 

Seed&Spark to Launch…

Seed&Spark is set to launch by December 1 and is $95,000 away from meeting its $300,000 seed round goal and the company is still seeking investors. At the moment, the Seed&Spark is reaching out to film schools at University of Southern California, UCLA and New York University, as well as others, to seek possible partnerships. There’s also been interest in the UK, Best said.