Seed&Spark

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Seed&Spark is a film-centric crowdfunding and VOD platform launched in 2012.

Business

Seed&Spark is a film crowdfunding and online distribution platform that supports a mission it calls "Fair Trade Filmmaking." Films are crowdfunded in the "studio" area of the website, where "supporters" earn "sparks" for contributing money towards active crowdfunding campaigns. Once a campaign is successfully "green lit", supporters may redeem their sparks to watch films on the distribution ("cinema") area of the site. Distribution contracts are non-exclusive to Seed&Spark, with a caveat that a film shown in the Seed&Spark cinema must not be distributed free elsewhere online.[1]

Crowdfunding Platform

Unlike other crowdfunding platforms like Kickstarter and IndieGoGo, Seed&Spark acts like a registry system, showing potential backers a budget determined by exactly what "wish list" items are needed and at what cost. The platform also allows backers to purchase or donate specific items.[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.

Crowdfunding to Build Independence

In 2014, Seed&Spark launched the "Crowdfunding to Build Independence" tour, traveling to film festivals and schools in more than 30 cities over a four-month period to teach the basics of crowdfunding to independent filmmakers.[citation needed]

Video On Demand

As a distributor, Seed&Spark offers short films for 99¢ feature films for $2.99, and 80% of profits from cash purchases go to the filmmakers.[4] Filmmakers also earn a 20% profit when registered users view their film using a "spark" redemption, and must agree to offer a minimum of 50 views of the film to those redeeming sparks.[5]

In 2014, Seed&Spark signed an agreement with cable channel AmEx NOW to deliver 20 Seed&Spark films to the AmEx's TV channel and connected-TV application that reaches 67 million households.[6][7] The first films to stream on AmEx NOW included Like the Water, The Man Who Ate New Orleans by Michael Dunaway, Tick Tock Time Emporium by Morgan Faust, Mana’olana: Paddle for Hope by Eve Cohen, and BBC-commissioned Lex by David White.

Bright Ideas Magazine

At the 2014 Sundance Film Festival, Seed&Spark launched a premium film magazine called BRIGHT IDEAS,[8] distributed freely at major festivals in the United States and available by subscription. The magazine, which offers two issues annually, is helmed by former MovieMaker Magazine editor James Kaelan. The first two issues featured directors Ryan Coogler and Ana Lily Amirpour[9] as cover subjects.

History

Founder Emily Best created the prototype for Seed&Spark with Caroline Von Kuhn and Liam Brady[10] 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[11] with 11 distributed films and 15 crowdfunding campaigns.

Seed&Spark raised more than $300,000 in its first 6 months.[12] The company currently employs 8 staff.[13] Originally based in Brooklyn, New York,[14] 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,[15] 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."[16] In August 2014, Seed&Spark closed a million dollar seed round led by Wadsworth Family investment fund Manitou Ventures.[17]

References

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External links

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