The Chosen, Issues Equity, Making It The Largest-Ever Crowdfunded Campaign In The Category
VidAngel, an American streaming video and production company released a concept pilot of The Chosen, a story of Jesus, on social media that ended up being viewed 15 million times. Yes. That actually happened. No kidding.
This is what Dallas Jenkins, director and co-writer of the series, who recently directed The Resurrection of Gavin Stone for Blumhouse Productions and Walden Media, has to say on the miracle:-
“We started this campaign with no built-in audience and we based it on a short film I made on my friend’s Illinois farm for my church’s Christmas Eve service after my previous film had disappointed at the box office,” Jenkins said. “What’s happened has blown us away, but it’s an indication that there’s tremendous demand for something like this. I love binge-watching original series, so why not one about Jesus and his followers?”
This project called “The Chosen” is live and has raised more than $9 million. They are seeking $13 million to produce a full series.
Here are the historical statistics of crowdfunding in any TV show:
Super Troopers 2, the record-holder for film and TV category in Indiegogo raised $4.6 million. Mystery Science Theater 3000, which was later picked up by Netflix had raised $5.8 million on Kickstarter. None of these projects at Kickstarter or Indiegogo offered equity to investors.
What shall we learn from it?
Equity crowdfunding and rewards basics.
It should be noted that these shares can’t be resold at this time, but managers of the production company have guaranteed that they shall not accept any profits — should there be any — until all investors make at least 120 percent on their investment made. Investors could also potentially make more money, as they are the partial owners in perpetuity. VidAngel and crowdfunding investors are hoping to make a profit via streaming and broadcast licenses, DVD and VOD.
Instead of the usual reward schemes, like tickets to screenings, DVDs or one on one interaction opportunity with actors, they chose to go with equity crowdfunding and the results are in front of you.
You can watch the pilot of “The Chosen” and listen to the team behind the project in the following videos below.
Do let us know your views on the matter discussed. If you also have any idea that has been lingering in your mind for long and has not manifest just because of lack of funds, you can launch your campaign with Catapooolt – India’s largest crowdfunding platform.
Main Image: ©VidAngel