Podcast Episode #235: 3 Reasons Why Crowdfunding Did Not Take Off On Broadway
ESTIMATED LISTENING TIME OF THIS EPISODE: 15 Minutes
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ABOUT THIS EPISODE:
It has been 10 years (!) since I crowdfunded Godspell. It remains one of the most difficult things I’ve ever done in this business.
But, like most difficult things, it was also one of the best things I ever did for my business. And my life.
Not only did we fund the production, and help launch the careers of some superstars, but I’m also still friends with many of “People of Godspell”, which is what we called our Producers and Investors (we had over 730 of them!).
After we successfully crowdfunded the show, using an old regulation called a “Reg A,” Congress passed The Jobs Act . . . which made it MUCH easier for businesses to crowdfund.
Everyone predicted an explosion of this type of microfinancing in all industries . . . Broadway and Off-Broadway included.
And it didn’t happen.
I don’t know of ONE Broadway or Off-Broadway production to utilize the new “Regulation CF” since it was passed.
Why?
Here are three reasons why. Listen to this episode to learn more.
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