How to Raise Money for a Film: 5 Film Financing Resources
Telling a story and bringing it to life is the beauty of filmmaking. However, whether you’re looking for funding for your first project or a seasoned filmmaker, it can be difficult to secure financing. Not only that but there are many expenses that go into making a project. Fortunately, there are various avenues to getting money for your film. We’ve gathered ways for how to raise money for a film without having to take on large amounts of debt.
5 ways to get film funding for a production
1. Submit applications for grants
Film grants are usually private funds but they can be funded by the government, too. While a grant helps with funding necessary resources, it usually comes with certain conditions. These conditions range from the location of the shooting to the theme of a film. If you’re looking to have more ownership and flexibility of your project, you might want to consider other options.
Keep in mind that you’ll need to submit an application for each grant before the deadline date. Additionally, certain grants don’t transfer all of the funds in one installment. This could potentially be a challenge if you need to make payments ahead of time. Since there tend to be many applicants for grants, it’s good to be actively searching for new ones that become available to increase your chances of being selected.
The Government of Canada supports the overall federal policy, legislative and regulatory framework for the audiovisual sector, fostering the creation of a range of film and video productions and access to Canadian content by Canadian and international audiences.
There are several routes to go down when applying for fundraising in Canada, like the Canada Media Fund and the Indigenous Screen Office.
2. Connect with investors
Investors are typically individuals who are independently wealthy. Obtaining an investor is a common way to get film financing. Networking will help you find an investor who might be interested in your project. Before you approach an investor, make sure you have a business plan, script, and budget. It’s also important to have a pitch prepared. You never know when you’ll encounter a potential investor, so by having a solid pitch you’ll multiply your chances of landing one.
3. Use film crowdfunding
While crowdfunding is a popular way to raise money for medical emergencies, memorials, and crises, it’s also an effective way to raise funds for your dream project. Film fundraising is especially valuable for first-time and independent filmmakers. Some advantages of crowdfunding for films are that it’s relatively low risk, low cost, and anyone who connects with your story can donate.
Since crowdfunding combines the power of social networks and the internet, you’ll be able to reach more people than traditional forms of fundraising. There are also no extended wait periods to receive the money you raise. This is beneficial if you need the funds right away.
Film fundraising websites
There are many online fundraising platforms out there, but GoFundMe, Indiegogo, and Kickstarter are among the top crowdfunding websites for filmmakers. Wondering why GoFundMe may be the right platform for your needs? The following is what sets GoFundMe apart from the rest:
- Fundraising tools: GoFundMe offers a wide range of tools from our mobile app to team fundraising, making it simple for you to start, share, and raise funds for your film fundraiser.
- Customer service: Our Customer Care team is ready to answer your questions, offer expert advice, and support you along the way.
- Reach: GoFundMe will help you share your fundraiser near and far over text, email, and social media to garner support for your project.
4. Speak to friends and family
One of the easiest ways to secure film funding is by reaching out to your family and friends. Consider asking them for a loan or offer them exclusive incentives if they invest in your film. Additionally, ask them to contact their networks to see if anyone they know might be interested in partnering with you for your project. Word of mouth is an efficient way to bring attention to your vision.
5. Gain sponsorships
Sponsorships are another way you can gain financial support for your film project. Try visiting local businesses, restaurants, and brands of gear or supplies you may want to use for your film. With sponsorships, you can potentially use the location of the business or its product in return for featuring the company in your film. This is useful for companies because it’s an opportunity for them to promote their business and attain new audiences.
Inspiring film fundraising stories on GoFundMe
Check out a few success stories of filmmakers who used GoFundMe to raise money for their production.
Help us fund our short film
Directing duo Kye Popham and Zia Kalyan, from Vancouver, launched a fundraiser to fund their short film. They said it had been their ‘collective dream’ to create a film and have used GoFundMe to help this become a reality.
Fund BC Film Production of “True!”
The creators of True, a coming-of-age film set in British Columbia, also launched a fundraiser to help bring their film to life. Set in modern day Canada, the film is a neo-Western and a fundraiser was created to try and fund transport costs, location costs, food and production. Thousands of dollars were raised to try and bring the project to the big screen.
Start film crowdfunding for your next project
No matter what your financial situation is, your story deserves to be told. If you’re in need of film financing for your next film or project, GoFundMe is here to support you. Before you start film fundraising, learn how it works. Then, use our top fundraising tips to make your fundraiser a box-office success.