Crowdfunding has become a popular new way for filmmakers as well as entrepreneurs, small businesses, and philanthropists to raise capital by obtaining small contributions from a large number of individuals over the Internet. Websites such as Kickstarter, IndieGoGo, RocketHub, and WeFunder have provided a portal for films like Wish You Were Here, Veronica Mars, and Sharknado 2 to obtain needed financing. A recent legislation has the potential to change this crowdfunding and indie film landscape. On April 5th, 2012, President Obama signed into law the Jumpstart Our Business Startups Act (“JOBS Act”), which legalizes equity crowdfunding over the Internet.
This post was originally published on the Cardozo Arts & Entertainment Law Journal website on November 3, 2014. The original post can be accessed via the Archived Link button above.
Eisbrouch, Andrew, "Crowdfunding and Its Impact on Indie Film" (2014). AELJ Blog. 53.