One advantage of crowdsourced projects: they return investment!
One of the great problems with the traditional Studio System is the problem they have turning a profit on highly profitable movies. Of course, it’s just an accounting trick to line the pockets of the studios, at the expense of the talent who created the film.
Well, the partly-crowdsourced, Iron Sky, is now returning money to its crowdsourced funders out of the revenue of $10 million that the movie has already made.
The producers of whacky Finnish sci-fi Nazis-on-the-moon spoof, “Iron Sky,” are to start paying back investors who contributed around 10% of the movie’s $10 million budget via crowd sourcing.
Tero Kaukomaa, of Blind Spot Pictures, which produced the Finland-Germany-Australia coproduction, said a group of 280 mostly Finnish and German investors would begin to receive coin early next year.
The investors — fans who had been involved in contributing ideas and enthusiasm since the early days of the project’s planning — contributed a minimum of €1,000 ($1,300) with some putting in $13,000 or more.
The film has taken more than $10 million at the box office since its April release across Europe, Australia and the Far East and, to a limited extent, the U.K. and U.S.