August 15, 2022

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Does crowdfunding work as a funding alternative in the audiovisual industry?

Does crowdfunding work as a funding alternative in the audiovisual industry?

Gone are the traditional requests for loans to banks, family and friends of a large portion of entrepreneurs. This is now Digitization and globalization of technology She highlighted a financing alternative that “obviously” shows more advantages and fewer risks: crowdfunding.

Although the term may sound very modern, this activity itself has been practiced for more than two centuries, now it is only done through online platforms and in a matter of seconds.

Crowdfunding is nothing more than An alternative form of financing in which investors directly contribute to a cause. Through this option, those interested in carrying out any type of project can raise funds directly from the general public. For example, in achieving this among 1,000 people, it is possible to raise a huge 50,000 euros in the event that each of them decides to contribute an amount of 50 euros to the idea.

Crowdfunding is nothing more than an alternative form of financing where investors directly contribute to a cause

Several experts spoke about this tactic, its usefulness, and its greater presence in the audiovisual industry in a presentation organized by Iberseries Platino Industria. Including Jose Moncada, Director General of La Bolsa Social; Carmen Baez SyriaDeputy Director General for the Advancement of Cultural Industries at the Ministry of Culture and Sports Maria Jose Rivalderia, belongs to EGEDA and is an expert in business development.

They all agree on that It is a very good choice, bearing in mind that through this financing alternative the product or The creator of the corresponding cultural or sports project has an important safety belt, Because if this money is raised, the initiative can start, but if it fails, it does not leave the entrepreneur with debts for life.

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In addition, the speakers noted that there are four different types of crowdfunding and in each case you can choose one or the other depending on the project.

The first purely audiovisual crowdfunding platform

During the event, although all of them showed their point of view on the matter, it was shown on the basis of facts that this source of funding is useful, very present and committed by large groups. .

Without going any further, Maria José Rivalderia, actress at the time EGEDA, the entity concerned with managing the rights of audiovisual producers, About the launch of Platino Crowdfunding, a crowdfunding platform for cultural and audiovisual works.

In her eagerness to prove the validity of this mechanism, the professional explained that the idea is framed in the form of crowdfunding reward – for which the beneficiary receives details in return for his financial contribution – and also that the form is “all or nothing”. If the money is not accessed, the project will not be done. If this is not done, the beneficiary will not have to invest. Everyone wins.”

Fully immersed in explaining this initiative, Rivalderia added that it aims to fund projects at an advanced stage. Likewise, he stressed that though “Since 2018 in Spain many cultural crowdfunding platforms have appeared,” none of them “dedicated exclusively to audiovisual”. For this reason, EGEDA has dared, which will also have an attractive production base.