Crowdfunding model for financing movies and web series |
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| Institution: | Department of Economics and Economic Policies,Bucharest University of Economic Studies,Bucharest,010374,Romania;Endicott College of International Studies,Woosong University,Daejeon,34606,South Korea |
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| Abstract: | Movies and web series are the most popular destinations of crowdfunding, and various approaches have been followed by project initiators. Filmmakers may use specialized or general crowdfunding platforms to raise money, propose fixed or flexible budgets, and use reward-based or equity-based crowdfunding. Crowdfunding may entirely or just partially finance production. To date, no standard model has been used for the production of movies and web series through crowdfunding. Recently, content-based web series on over-the-top (OTT) platforms, such as Netflix and Amazon Prime, have gained popularity. The aim of this study is to fill this conceptual gap and propose a crowdfunding model for movies and web series that can be applied and used to benefit all stakeholders: filmmakers, backers, distributors, platform owners, and the entire future audience. The model consists of nine chronologically interlinked phases and six types of flows: information/content, funds, audition, decision-making, content, promotion, and rewards. The conceptual model proposed herein is based on a critical analysis of the extant literature in the field, mainly qualitative analyses performed on successfully and unsuccessfully crowdfunded and professional films in connection with the current technical platform functionalities. |
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| Keywords: | Crowdfunding Movies Web series Model Creative Reward-based |
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