How to Raise Funds for a Movie
Making an independent full-length movie or a serial can require funds in the range of $50K to $5 million. Generally, a small percentage of these expenses is incurred during the development stage for the acquisition of rights to a story, development of screenplay, production planning, legal fees, etc. For low to medium budget independent movies these development expenses could range from $15K to $200K. In contrast, the cost incurred during the production stage could be anywhere between $25K to $5 million. During the production stage, most of the cost is incurred in payments to cast and crew, meals, transportation, renting of locations and equipment, music rights, editing, visual effects, etc. At the same time, planning gets initiated for marketing and promotion of the movie through social media and festivals.
While established business-savvy producers can raise up to 75% of these costs through pre-sales to distribution agents and partners, new filmmakers must raise funds to cover the entire budget of the movie. This is where Akemona can be of service.
Akemona has created a blockchain-based platform which allows filmmakers to raise funds. On the Akemona platform, filmmakers can raise funds in stages. For example, initially for the development stage, a filmmaker can raise from $15K to $500K. After the development stage is completed, the filmmaker can create another offering for the production stage of the movie. Under SEC Regulation Crowdfunding, filmmakers can raise up to $5 million per year.
Akemona provides free consulting support to filmmakers who opt to raise funds using the Akemona platform. This support includes legal and regulatory requirements for raising funds, templates for legal documents and support for the preparation of legal/regulatory forms. When the fundraising documents are ready, Akemona files the required documents with regulatory agencies on behalf of the filmmaker. This means that a filmmaker raising funds on the Akemona platform will incur a tiny fraction of the overall legal cost otherwise required to raise funds.
Akemona is an SEC-registered crowdfunding platform. When filmmakers raise funds on the Akemona platform, they sell an interest in the future profits from their movie to investors. This interest in the future profits from their film is sold as blockchain tokens to investors. Since investors buy blockchain tokens only if they expect the film to be profitable, raising funds on Akemona allows filmmakers to get an early market validation of their movie before they get too far ahead in their project.
If a filmmaker has a large social media following, they can use the Akemona platform to launch their own Decentralized Autonomous Organization (DAO). Members of this DAO could provide funds as well as guidance during market testing, production, and promotion of movies.
If you are interested in raising funds for a movie, please send us an email at support@akemona.com to request a free 30-minute consultation.
You will find a brief introduction of our platform for creative artists who wish to raise funds here: https://akemona.com/entertainment.
