Choosing the Right Crowdfunding Platform

Choosing the Right Crowdfunding Platform

Welcome to Blog24, our weekly column designed to help you thrive in your career – and on your campaign. Choosing the right crowdfunding platform is like choosing the right life mate. Choose correctly, and you will prosper and grow full from the plentiful fruits of your labor. However, a misstep could doom your project beyond recovery. Thus, today, we’re going to discuss three crucial elements to consider when choosing the right crowdfunding platform for your endeavor.

Getting to Know You

As of June 12, 2023, 536,447 projects launched on Kickstarter, with 208,596 of those (38.88%) being successfully funded. Most successful campaigns on Kickstarter have a funding goal of less than $10,000,  and 10% of all projects never even get a single pledge. Subsequently, 60.89% of campaigns on Kickstarter fail. Remember, your campaign needs to be successful on Kickstarter, or you won’t receive any of the funds.

Furthermore, the Games, Design, and Technology categories on Kickstarter comprise of 92% of all monies raised, meaning film and entertainment-related products are not thriving on the platform. 

At least $1.6 billion in crowdfunding has been raised on Indiegogo since 2009, with 23 projects breaking the $1 million plateau. However, they’ve had over 800,000 projects on their platform, meaning their average raise is around $2,000.  Indiegogo caters to filmed media, and campaign owners are entitled to keep the funds raised minus fees). 

While Seed & Spark demands a significant level of commitment from their campaign owners, the results are fruitful, as they report their success rate to be 75%, with the average amount raised being $14,470. Both totals are the highest in the crowdfunding industry, but the validity have also been challenged. Make no mistake, Seed & Spark is an excellent choice for those who have several months to commit to developing and executing their campaigns. Like Indiegogo, Seed & Spark cater to filmed projects, with their top categories being drama, at 42% of campaigns,  27% for comedies and 18% for documentaries.

That brings us to Hourglass24. Our platform laser-targets 24-hour campaigns, with a deep focus on pre-marketing campaigns before their launch date. Crowdfunding Campaigns earn most of their pledges in the first 12 hours and the last 12 hours. Thus, there’s no reason to agonize through 30 to 60 stress-filled, labor-intensive days when you can have your campaign ignited, showcased, and funded within 24 hours. Of course, you’ll still have to put in a sold four-plus weeks of prep and social media outreach if you want to thrive, but even then, your actual campaign time is cut down by at least 29 days.

Hourglass 24 creates high-impact crowdfunding campaigns for Feature Films, Documentaries, TV Series, Web Series, Short Films, Video Games, Music Videos, Comics, Plays, Screenplays, Film Festivals, Music Festivals, and Screenplay Contests. We have a  community of over  2 million backers and film industry professionals. 

Furthermore, our sister companies include The Lonely Seal International Film, Screenplay & Music Festival, cited multiple times as a FilmFreeway “Top 100 Best Reviewed Festival” in the World. With 146 Five-Star reviews from filmmakers, writers, and musicians, we’re in the top 1% of all festivals worldwide, with regards to the number of five-star reviews we have earned. Based in Arlington, MA, we’re expanding our festival to New York, London, and Paris. In addition, Lonely Seal also has a distribution arm and is launching a streaming service in late 2023-early 2024. 

Other Key Insights

Hourglass24 is all about helping you thrive before, during, and after your campaign. Think of us as a crowdfunding platform that you may want to marry, not just go out with for 24 hours. Since we have a film festival, distribution company, and (soon-to-be) streaming service in our orbit, we are confident we can become a fruitful source to help you realize your current and future projects. Before I  sign off, I wanted to give you a few cool videos which may help your crowdfunding campaign. Here’s some insight into tips for making a compelling crowdfunding video:

Furthermore, heres a video that discusses the difference between Kickstarter and Indiegogo.

Thank you for lending me your eyes, and I hope you have a wildly productive day!