Los Angeles, CA (PRWEB) June 22, 2013
CelebrityBusinessAnalyst.com announced its opinion on celebrity crowdfunding after The Atlantic Wire reported on June 18 about actor/director James Franco’s campaign to raise funds for a new project. Celebrity Business Analyst has commented on crowdfunding in the past when it talked about Zach Braff’s Kickstarter campaign, but this new initiative has turned heads.
James Franco is seeking $500,000 to fund three films based on his collection of short stories, entitled Palo Alto. There are several aspects of his campaign that set it apart from other recent celebrity crowdfunding efforts. Franco’s plan is to have up-and-coming NYU filmmakers direct the films, and all profits will go to Art of Elysium – a charity that urges actors, artists, and musicians to volunteer their time and share their talents with children battling serious medical conditions. “This is a refreshing way of thinking about crowdfunding,” says Celebrity Business Analyst. “Celebrities have come under fire for asking the general public for funding when they seem to have a lot of money and connections at their disposal. Franco is putting a new spin on it, asking for funds to help emerging directors while simultaneously supporting one of his favorite charities.”
Crowdfunding through sources like Kickstarter and Indiegogo as a way for artists and innovators to fund new projects has become wildly popular on dish internet in recent years. Benefactors can log on to these websites and contribute to projects in which they take an interest. In return, supporters receive certain thank-you gifts commensurate with their level of donation. For example, a $10 donation to Franco’s project gets the donor daily updates on the progress of the project, as well as a PDF of the script upon the movie’s release.
Celebrity Business Analyst shared its opinion on celebrity crowdfunding today, calling James Franco’s recent crowdfunding campaign a fresh spin on a topic that has been recently criticized.
About Celebrity Business Analyst:
Celebrity Business Analyst is a website that discusses the financial side of the movie industry. The site is interested in topics like celebrity income, and what it takes for movies to be made.