Seed&Spark

Seed&Spark
Video on demand, crowdfunding
Founded 2012
Headquarters United States
Website www.seedandspark.com

Seed&Spark is a film-centric crowdfunding and Video on demand platform launched in 2012.

Business

Seed&Spark is a crowdsourced film & TV studio where creators can build audiences through crowdfunding and audiences can watch movies & shows through on-demand streaming. Distribution contracts are non-exclusive to Seed&Spark, with a caveat that a movie or show on the Seed&Spark must not be distributed free elsewhere online.[1]

Crowdfunding Platform

Unlike other crowdfunding platforms like Kickstarter and IndieGoGo, Seed&Spark is purpose-built for film & TV, and its crowdfunding page acts like a registry system, showing potential backers a budget determined by exactly what "WishList" items are needed and at what cost. The platform also allows backers to contribute cash or loan specific items to the project.[2] Seed&Spark takes a 5% fee from successfully funded projects, lower than other crowdfunding platforms, and allows campaign supporters to cover the filmmakers' fees. Seed&Spark currently holds a 70% success rate for its crowdfunding campaigns, nearly twice that of Kickstarter,[3] and an average raise of $14,700 per project.

History

Founder Emily Best created the prototype for Seed&Spark with Caroline Von Kuhn and Liam Brady[4] while raising funds for their feature film Like the Water in 2010. Through the platform, the film was able to raise $23,000 in 30 days. The public site launched on December 1, 2012[5] with 11 distributed films and 15 crowdfunding campaigns.

Seed&Spark raised more than $300,000 in its first 6 months.[6] Originally based in Brooklyn, New York,[7] Seed&Spark relocated to Los Angeles in 2014.

Funding

Best was the recipient in 2013 of $10,000 grant for Seed&Spark from SoftBank Capital and Lerer Ventures,[8] given via the New York Observer blog Betabeat's competition series The Pitch. Lerer principal Steve Schlafman explained that Best "proved to us that her product is working and solves a real problem that she experienced first hand."[9] In August 2014, Seed&Spark closed a million dollar seed round led by Wadsworth Family investment fund Manitou Ventures.[10]

References

  1. ↑ "Submit a Movie for release on Seed&Spark!". Seed&Spark. Retrieved 12 January 2015.
  2. ↑ Renninger, Bryce J. "Filmmakers Create a New Platform for Crowdfunding and Streaming Distribution in the Same Place". Indiewire. Retrieved 11 January 2015.
  3. ↑ Salovaara, Sarah. "Ranking Crowdfunding Sites: Kickstarter, Seed&Spark, Rockethub and More". filmmakermagazine.com. Filmmaker Magazine. Retrieved 11 January 2015.
  4. ↑ Dunaway, Michael. "Catching Up With Emily Best of Seed&Spark". Paste Magazine. Retrieved 11 January 2015.
  5. ↑ Best, Emily. "FAIR TRADE FILMMAKING: SEED&SPARK". tribecafilm.com/stories/5130fa651c7d76ec6c00000f-fair-trade-filmmaking-see. Tribeca Film Festival. Retrieved 11 January 2015.
  6. ↑ Harris, Dana. "Indiewire Influencers". Indiewire. Retrieved 11 January 2015.
  7. ↑ Rossini, Elena. "Emily Best, 30s, Founder and CEO of Seed&Spark". No Country for Young Women. Retrieved 11 January 2015.
  8. ↑ Observer Staff. "The Pitch Season 2". Beta Beat. The Observer. Retrieved 11 January 2015.
  9. ↑ Observer Staff. "What Makes a Good Pitch? A Q&A With VCs Nikhil Kalghatgi and Steve Schlafman". Beta Beat. The Observer. Retrieved 11 January 2015.
  10. ↑ Ellingson, Annlee. "Q&A: Seed&Spark raises $1 million for indie-film 'wedding registry'". bizjournal.com. New York Business Journal. Retrieved 12 January 2015.
This article is issued from Wikipedia - version of the 9/8/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.