Chasing Money

Posted on Tuesday, November 08 by Jill

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Do we really need funding? Is finding financing really the way to start a project?

Old media producers start projects by looking for money. In most cases, the only people who do work before the financing falls into place are the writer/creator who puts together the pitch document or original proposal and the producer, who likely sketches up a development budget and a financing plan. Some producers might even find some dough at this stage to option the writer's work or to pay for it if it's an assignment. Then the two of them trip off to find the money to move the project forward.

This is the pattern that's ingrained in me from a career in the TV industry and when I had my first transmedia idea that I wanted to try out, I followed the pattern I knew. I went a-knocking -- looking for a producer, a broadcaster, funding agency partners.

I was met with... confusion.

People didn't understand what I was on about and more importantly, the parameters of their jobs didn't allow for what I wanted to do. But it took me many months of rejection to give up looking for money and try a new strategy.

I figured they would understand better if I could show them how it work, rather than telling them about it. If the money guys had a demo, I figured, they'd pony up.

Right then, time to really write it. The concept of boymeetsgrrl -- which was revolutionary at least to me in 2007 -- was to tell a story by letting the characters bring it to life through their blogs, vlogs, Facebook activity, Tweets, social bookmarking and more. I wrote the scripts for the vlogs, built the websites and filled the blogs with posts. I wrote the tweets, set up character Facebook profiles and so on. Then I created a program that let you step through the elements in order so that you could follow the story. Where the video portions belonged, the scripts popped up so you could read them. Missing was the big element of the audience interaction with the project.

I schlepped around with that for quite a while but guess what? The money did not flow. Time was a-wasting and I was feeling frustrated.

Instead of giving up, I did something ridiculous. I took $5000 out of my pocket and decided to make it myself. It was still old skool thinking, really. I was still imagining this as a demo that would pry the money loose. Proof of concept.

I cast it, hired a crew and shot videos. Edited them. Scheduled a week's worth of interactivity and content roll out (before the days of Conducttr mind you) and in January 2008, I launched the narrative with this video.

I had a lot of fun. Learned an incredible amount. Built an audience that stretched around the world. It was probably one of the coolest experiences of my whole career.

And then I spent months trying to parlay that into funding without any success.

What I eventually learned from all this is that it is sometimes better to just make something. Looking for funding wastes a lot of time and effort. It can be exhausting and demoralizing. If you're an indie without an infrastructure behind you, it is nearly impossible to access the various funds.

On the other hand, if you just get out there and make something, it's exhilarating. You learn an incredible amount. You begin to build an audience and a reputation. You gain experience.

I made three or four little projects before I was able to access funding. My experience and little reputation were key in landing it, plus an idea that the jury judged as strong.

Believe me, I'm not rolling in dough yet. The funds to do what I want to do are flowing like molasses or maybe something even more viscous like tar.

And still, when I spend months chasing after money, I wonder if I'm not wasting valuable time. Maybe I should be out there making something and building an audience. Because in the end, the audience is what is valuable. If you can draw them to your project, then the money people will turn up too.

Plus making something is a whole lot more fun than writing another funding proposal.

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  1. By Kelly J Compeau November 10, 2011 @ 09:31 PM
    I did something similar with a transmedia project I'd been working day and night on, from 1995-2008. A combo webcomic-TV series much like NBC did with Heroes. After years of looking for funding from everyone including Nokia, Pepsi, Richard Branson, Leo DiCaprio and three of CBCs venture capitalist "Dragons" I finally gave in and funded the project myself, using a $20,000 line of credit. While the webcomic series was hugely successful and had a worldwide fanbase of over 50,000 readers, I never recouped a single dime and had to file for bankruptcy after losing my job, my home and my car in 2010. Unless and until I become filthy stinking rich, I will NEVER fund my own transmedia projects ever again.
  2. By Jill November 11, 2011 @ 02:02 AM
    Kelly, That's terrible. I didn't know. I agree and maybe that's another post. You can't invest very much money in your own project and you have to a revenue generation plan that kicks in soon. And I guess finally, you need a job to support your web habit so that you don't lose everything!
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