31 Dec 041: CROWDFUNDING in china
Find out how to crowdfund your film in China. Know the major players. Additionally, understand the differences between U.S and Chinese crowdfunding.. Recognize the pros and cons.
Indeed, where does a filmmaker look for investors? Not only your friendly banker and rich relatives, but also consider crowdfunding.
This is the process of funding a venture or project by raising small amounts of money from a large number of people. In particular, this typically via the internet.
To illustrate. the article “Crowdfunding in China: Overcoming the Differences to Access a Unique Market” reported that “The most common forms are: Equity-based. Similarity, there is also reward-based and debt-based. Debt based means peer-to-peer lending. Lastly there is Donation-based crowdfunding.
How do the U.S. and China differ?
Additionally, the article “The Growing Potential of Crowdfunding in China” stated that “Chinese platforms, more so than their counterparts in the West, offer more tangible rewards for their contributors.”
THREE KEY POINTS
FIND A FUNDING PARTNER
Clearly you’re better off partnering with someone in China to handle the language issues. Obviously, this is more work. However, the upside is your project can tap into the exploding China Film Market.
INVESTORS LOOKING TO BANKROLL PROJECTS
Furthermore,Chinese financiers are hungry for projects to invest in. Additionally, entrepreneurs have a hard time getting traditional bank loans. Therefore, the time is right. You can make connections between the startup (you – the filmmaker) and Chinese investors.
HARD GOODS NEEDED TO UNDERWRITE YOUR CAMPAIGN
Additionally, some U.S. filmmakers will give away digital products. This could be a film download. However Chinese fans prefer something tangible like merchandise.
Check out our other blogs and podcasts here:
Podcast 013: Crowdfund a Hong Kong Film
China Hollywood Greenlight Podcast – Episode 41
How to Crowdfund Your Film In China
Host: Caryn McCann
Twitter: @chnlist https://twitter.com/chnlist
Lead to Articles mentioned
Crowdfunding in China: Overcoming the Differences to Access a Unique Market: https://bit.ly/3zg8byp
China’s Crowdfunding Witnessing a Boom: https://bit.ly/3eH9Aoq
The Growing Potential of Crowdfunding in China: https://bit.ly/3mLx14h
Leads to Companies mentioned
YuLeBao 娱乐宝 https://yulebao.alibaba.com/
Coufenzi 凑分子 https://corporate.jd.com/home
BaiFa YouXi 百发游戏 – part of the Baidu network. https://bit.ly/3EHaQlR
Dreamore: Is an all or nothing crowdfunding model. http://www.dreamore.com/
CTQuan: equity crowdfunding platform. http://ctquan.com/
Zhong Chou: 众筹 is a rewards-based platform. https://zhongchou.com/
Tao Meng: 淘梦 Dedicated to filmmakers. http://tmeng.cn/
Fringebacker. Dedicated to artistic projects: https://www.fringebacker.com/en/