Crowdfunding Craze: Showbiz Gets In On The Act

By Joe Tidy, Sky News Reporter

Artists around the country are benefiting from tens of millions of pounds worth of investment being donated from the public.

Crowdfunding on websites such as Kickstarter has given the green light to big-budget stage shows in recent weeks.

A theatrical musical based on the 2010 film The Infidel has been partly funded with more than £55,000 raised on Kickstarter and an online campaign raised £1m for a stage show of Wind In The Willows. 

Kickstarter, along with other websites like Crowdcube.com and Seedrs.com, allow artists to pitch ideas for projects and ask for funding in exchange for unique gifts or production credits.

Since US website Kickstarter launched in the UK in 2010 £36m has been pledged and 2,730 creative projects have successfully reached their funding goals and gone into production.

David Baddiel says people want to be a part of a successful act

Comedian David Baddiel and producer Arvind Ethan David exceeded their target of £55,000 for the musical Infidel in just 26 days by offering backers the chance to watch rehearsals and download show songs.

He told Sky News: "The truth is it's really hard to get funding [for projects] and therefore I think anything that allows that to happen in whatever funding model you can find is a really good thing … I think people who give money feel more a part of the show too."

David Babine, the artist director of Menier Chocolate Factory in London, said the rise of crowdfunding in the arts is having a big impact.

"Crowdfunding is a really good thing for our business. It will help things that might have been very difficult to raise money for in the past with traditional revenue channels getting funding and interacting with the potential audience.

"It also means that critics, who aren't always generous as one might hope they would be, don't have as much power and if the fans want something, they can make it happen."

This art installation backed by Helena Bonham Carter fell flat

Not all crowdfunding is a success. Last week, an art installation backed by actress Helena Bonham Carter failed to reach its funding target.

Sometimes when a project is made, it can be a disappointment for fans. Some backers of the $5.7m Veronica Mars movie were reportedly unhappy with the finished product.

Baddiel said of the danger of this: 'If you ask for funding from people then they feel more invested in the project than perhaps they normally do so you have to listen to their criticisms which is all part of the strange democratisation of the internet."

The rise of crowdfunding in the arts is allowing some artists like musician Gabby Young to be self-sufficient without the need for a music label. She's been using the technique since 2009.

With an influx of websites connecting arts fans and artists alike, the opportunity is there for many productions to get off the ground as long as they can sell their idea to audiences.

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