We did a little research and summed up what we need and do not need and how we will save a lot from our budget. We agreed that we will be spending money on equipment such as camera, tripod and a memory card, also spending some of our money on travel as we are required to travel a certain distance due to the fact we are shooting our video in the city, heart of London and considering the distance we live from one another, we will need a small amount of money to go into our travel, and we intend to travel by train as it is easier. With the team we discussed the best possible ways for us to save money on our production but also make it an outstanding one. In this you have everything detailed down. It is a record showing debit and credits for an organization within a particular time period. With the funds it will help us with expenditure and the equipment that we may require as it is a film based production. We came up with a shortlist and discussed as a team what we thought was best for us and our production to go through. Initially we researched different types of organizations that may be able to help fund our production such as, film funding agencies. However that is just a back up plan just in case our first plans do not go through. We want people to interact with it, be aware of it and take part in it. Also this will also help get our production out there as people will become aware of it and it will bring attention to our production and that is what we want. However we have decided to go for crowd funding as it is an easier way to raise money if we are required for needing more. There are three different types of crowd funding: donation, debt and equity. They can then use social media, alongside traditional networks of friends, family and work acquaintances, to raise money. Typically, those seeking funds will set up a profile of their project on a website such as those run by our members. Crowd funding switches this idea around, using the internet to talk to thousands – if not millions – of potential funders. Until recently, financing a business, project or venture involved asking a few people for large sums of money. In our case we pitched our ideas to our fellow peers who if had taken an interest in our production would fund is with £100,000, our budget given to develop and produce our idea.Ĭrowd funding is a way of raising finance by asking a large number of people each for a small amount of money. It could be done through grants, donations or savings, etc. Funding Sources:Ī funding source is when an external source or a group of investors that help with the flow of cash for a production. Our production is an interactive video where the viewers get to decide what decisions are made in the video as there are options given which have two complete different outcomes.
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