With the recession derailing the bank finance model and with it the vast majority of film funding, filmmakers now have to adapt quickly to get their films made. Some are taking on more commercial projects for corporate clients, whilst others are innovating, using the latest social media tools to bypass the traditional funding mechanisms.
A PricewaterhouseCoopers report shows that over 50 independent UK film companies went bust in the last 18 months, with Tartan, Palm Tree UK and Grass Roots Films amongst the fallen...Filmmakers often now go online for a digital whip-round, also known as ‘crowdfunding’. Hinging on a process known as ‘Do-It-With-Others’ (DIWO), the website IndieGoGo acts as a resource market, where visitors can watch a pitch trailer for films in varying states of production, share clips with friends (thereby creating a buzz), ‘demand’ screenings in their area and even contribute to a film’s release costs.
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