TODAY

TODAY   |  August 02, 2013

Why is crowd-funding site Kickstarter so popular?

The crowd-funding site is helping some independent creators, including well known filmmakers like Spike Lee, fund their passion projects.

Share This:

This content comes from Closed Captioning that was broadcast along with this program.

>>> do you have an idea for a new project but just don't have the money to get it started?

>> for the past four years website kick starter helped ordinary individuals get their ideas off the ground through something called crowd funding.

>> more than 100,000 projects launched with the back of perfect strangers. they put up money and get a small reward whether a chance to play an extra or get an on screen credit .

>> in an industry where money reins supreme it's hard for budding young movie makers to translate their vision into reality.

>> i'm sitting on over $200 of incredible footage.

>> but a platform allows dream towers create.

>> kick starters is a funding platform for creative projects. it's a place where artists and game designers take their ideas to the public.

>> you have an idea. you say what you want to do. how much money you need.

>> we need your help. while originality is encouraged there are guidelines.

>> we don't allow charity projects or fund my life.

>> no going to college on kick starter.

>> we're reserved for creativity.

>> since the launch of the site backers kicked in $700 million to fund all sorts of projects.

>> that money has come in largely $25 increments.

>> it's broad. everyone from a sixth grader in kentucky sending in something to a 90-year-old woman in florida putting out a design she has.

>> long before anyone knew who spike lee , he said he was raising money from those around him.

>> i've been doing kick start as a filmmaker before there was kick start . at that time social network was calling people on the phone, writing letters, writing postcards. now i'm on twitter, instagram, facebook.

>> now the filmmaker has turned to kick starter to fund his next film project. but not everyone is supportive.

>> you've got a lot of money. why would you go to kick starter? i think it's interesting.

>> first of all, you don't know how much money i have.

>> what about those who say that by supporting you on kick starter you may be taking the attention away or some of the funds away from other unknown independent artists.

>> i disagree. i bring people here who maybe heard of me. what we found each project brings new backers to kick starter and they go on the support other projects. a project for spike lee is great mother film makers it helps them doesn't hurt them. it helps shape the future of creativity.

>> in five years we hope kick starter looks the same

>> you're creating fantasies to reality.

>> spike lee is asking for $1.25 million in pledges sway portion of the film's budget. as of this morning's's raised more than $535,000. meantime kick starter take 5% of the funds raised.

>> rising tide floats all boats.

>> trickle down effect. you get some big names. the fans wanted it. it went on to become a successful thing.

>> you make a lot of money, can't you support it yourself. you see both sides of it.

>> you might think about for your singing career.

>> kick starter.

>> need to raise a lot