Crowdfunded opportunities are everywhere, from ingenious inventions to even movies and commercials, (which Doritos has been doing for the last 6 years) and it was just announced that Vimeo is seeking film talent to fund a feature film.
Vimeo Seeking Film To Promote
Looking for diamonds in the rough at a bargain price of $500,000 allocated, Vimeo will be pouring through original content on Kickstarter and Indegogo looking for movies that they will promote and license. Crowdfunding began strictly as a business concept but has now infiltrated itself into mainstream vocabulary, even Kickstarter made it on the big “Jeopardy” board recently and the popular site was mentioned by the character “Sheldon” on the popular show “The Big Bang Theory”.
The world is a stage with video platforms such as YouTube and Vimeo. Anyone can create a “viral video” and catch their own 3 minutes of fame, but sadly it does not often translate into much cash or even any type of real income (or profit). For video hosting companies the balancing act of offering a free, safe, and quality video hosting service, while making any money for overhead and other real expenses, is often a make or break act for this emerging and changing overnight business.
One Day Your Hot- The Next Your Not
Competition is fierce for your attention and “views” and considering that Vimeo launched before YouTube and both began as the same “video sharing service”, some wonder why Vimeo is considerably less popular than YouTube?
Josh Abramson, one of the founding partners of Vimeo responded to that very question on Quora in November 2012, who reflected that fear of lawsuits and self imposed site restrictions inhibited their growth by comparison. Abramson noted in his updated post than “from the perspective of a founder who made exactly zero dollars on Vimeo (originally I owned 35%) and watched the YouTube guys sell their company for 1.65bn to Google. Had Vimeo chosen a slightly different path and blown up instead of YouTube in the early days, the story may have ended up differently for us.”Well, hindsight is apparently in HD, and Abramson is not doing bad for himself with his other accolades.
Vimeo OnDemand is a newer feature for Vimeo Pro members giving them special access to tools and providing a quality platform for aspiring filmmakers to sell their original content-with a 90/10 split.
Aggressive self promotion or not Vimeo is putting their money where their “demand” is. Just last September, Vimeo dangled a reported $10,000 advance for producers from the Toronto Film Festival to premiere their movies on the Vimeo OnDemand platform, in fact 13 of 150 approached took the offer.
Do You Have What It Takes?
If you always wanted to live large and drive five cars $500,000 may not cover it. In fact, it’s not actually given to the “chosen” Vimeo films, but the filmmakers will have “access to a $500,000 Audience Development Fund” which will help market, promote and sell their film(s).
Considering what crowfunding and collective power has done for entertainment and even our economy, there’s no telling what could be the next big thing, or hottest film, it’s anyone’s shot to take. Vimeo will not likely be the only one dangling money for talent, so get your cameras rolling.
Feature image Cannes Film Festival 2008, Guy Taylor (left) and Dan Boylan (right) in Public Domain, Wikimedia Commons.