You know the drill. I find the smartest, edgiest, and hopefully sexiest people I know who have the characteristics of entrepreneurship to contribute advice to The Chancebending Network. Today we’re talking to Brad Rego of 221 Films.
One Question with… Brad Rego, Director/Producer at 221 Films
“Trends come and go and I’m certainly not smart enough or plugged in enough to understand what trend is going to be the “hot” thing this year. What I hope will take steps forward this year is the path of equity crowdfunding in the independent film industry. Equity crowdfunding is similar to Kickstarter in the method of opening up the ability for the public to get involved in the films they want to see and back them financially, but the wrinkle is it’s not donation based. Instead they become owners and investors in the film and take part in its financial success down the road. This newly legal process allows investors to contribute more to the films they believe in because they stand to gain financially if the movie is a success, as well as the filmmakers who now have access to larger amounts of people, and funds, for the tier of films under a 1 million dollars, which can be so difficult to raise money for. Over the last two years since its inception, there were only 4 or 5 films that took advantage of this process, and ran a successful campaign. However, as we begin 2019, there are already that many currently running campaigns for films in the works. If they are successful as well, it could really blow the doors off of the splash that donation based crowdfunding made for the film world 7 or 8 years ago. However, without the limitations that effectively killed donation based crowdfunding as a reliable way to raise funds for feature films.”
-Brad Rego
When we started The Chancebending Network, we had people like Brad in mind. Whether it’s in film or a startup, our goal is to connect entrepreneurs with the right information when they need it. We’re doing this with online coaching, access to a community of professional entrepreneurs, and business advice.
To learn more about our entrepreneurship community, check out the Chancebending Network now.
