Zach Braff's Crowd-Funded WISH I WAS HERE Sells For Nearly $3 Million & Sparks Controversy
Popular TV star and soon-to-be Broadway headliner Zach Braff's new Kickstarter-funded feature film WISH I WAS HERE sold for an impressive $2.75 million to Focus Features at Sundance earlier this week according to a new report, igniting a firestorm of controversy.
Last year when the Kickstarter program for the film kicked off, Braff's project was originally set for a $2 million goal, but fans showed enough support to the star for him to see the final figure rise to over $3 million, thereby ably abetting him to make much more than just the movie he had originally envisioned.
Now that the film has almost made back its original investment in its distribution purchase price alone by being sold for such a high figure at Sundance, some supporters have voiced concerns about whether they will receive additional benefits as a result of the lucrative sale.
Subsequently, Kickstater has issued a statement on the matter stating, "Current SEC laws prevent Kickstarter from offering equity or financial returns. As Kickstarter explains in Kickstarter Basics: Project creators keep 100% ownership of their work. Kickstarter cannot be used to offer financial returns or equity, or solicit loans. Some projects that are funded on Kickstarter may go on to make money, but backers are supporting projects to help them come to life, not financially profit."
To add insult to perceived injury on behalf of the Kickstater supporters, Braff reportedly neglected to mention the Kickstarter campaign and its hundreds of participants during his introduction to the film at the Sundance Film Festival where it premiered earlier this week.
Check out the original article on the matter here.
So, do you think Kickstarter supporters should share in any of the profits of a project if it ultimately makes back more than its original investment?
From This Author Pat Cerasaro