Crowdfunding Hollywood

Remember the sh*tstorm surrounding Zach Braff’s crowdfunding venture for his film Wish I Was Here? Braff spent as much time defending the fact that he was using donations (as opposed to giving his “investors” some upside) as he did making the movie.

Now comes former TV favorite Katherine Heigl who famously dumped the medical soap opera Grey’s Anatomy to leap onto the silver screen. Her movie track record has, according to critics, sputtered.

So, the question of the day is, if you made $15 million in a movie titled One For the Money in 2012 (including producing fees), should you be on IndieGoGo asking for $150,000 to pay for post production work including editing and music licensing? Crowdfunding film makers not in her tax bracket have reason to wonder. She’s basically looking for what those in her salary category would spend on a week’s vacation. Note also that this is a “flexible” project, which means that KH can keep any funds raised even if she doesn’t reach her goal.

For your $1,000 donation, you will get the gay wedding cake topper used as a prop in the movie.

This fan is skeptical:


You can help Katherine here (no endorsement implied):


About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
This entry was posted in Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, FINRA, Funding Portals, Investments, Jobs, Legislative Intent, SEC and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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