Abstract
Broadly defined, culture is deemed the fourth pillar of sustainable development and increasing attention is currently being paid to how it can access all potential financial resources. In Europe, film production benefits from public financial support; however, film projects require large amounts of money to be completed and this support may prove insufficient in comparison with the actual need. This raises the question of identifying alternative financial resources that filmmakers could benefit from. Crowdfunding has recently emerged as a funding option for all the creative-cultural industries in general and for film production in particular. However, Romania’s capacity to use this alternative financial source is one of the lowest in Europe. In this context, the aim of the article is to study Romanian filmmakers’ attitudes towards crowdfunding and its perceived suitability for financing film projects. The research method consists in a survey based on self-administered questionnaires and semi-structured interviews with Romanian film producers. Although the largest majority of film producers have not used crowdfunding due to lack of awareness or scepticism, the paper discusses, based on experts’ opinion, how this method can become a viable source of finance for the film industry.
Highlights
The aim of this research is to investigate Romanian filmmakers’ attitudes towards crowdfunding as an alternative source of finance and its suitability for financing film projects based on the results drawn from a survey conducted on a sample of filmmakers and from semi-structured interviews conducted with experts in the field
Before investigating filmmakers’ attitudes towards crowdfunding, it is of utter importance to have a clear picture of the main sources of finance they use
One first conclusion is that the film industry is mainly financed using public funds and other types of funds have a reduced capacity to support the majority of film production
Summary
The aim of this research is to investigate Romanian filmmakers’ attitudes towards crowdfunding as an alternative source of finance and its suitability for financing film projects based on the results drawn from a survey conducted on a sample of filmmakers and from semi-structured interviews conducted with experts in the field. The larger context of the study is that in which the European Parliament considers it necessary to promote crowdfunding and other non-banking financing models given that access to traditional finance for creative-cultural, innovative or start-up companies is limited and the existing funding is insufficient. Crowdfunding is an alternative financing method used by companies or within projects that do not have enough resources and are not eligible for traditional financing. In its early ages, crowdfunding would mainly address financing needs of those projects involving a high level of risk and uncertainty, such as research and development, innovation and technology, social and humanitarian causes and creative-cultural industries [2]
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