Crowdfund on Premise TV
To crowdfund a project on Premise TV would be applicable mostly to new and original content. You can upload a teaser from your original film (for creation of sequels) or shoot a teaser trailer for a new short film. We will then upload the teaser on our platform and people can donate to support the film. This is interactive as we are interested in exploring how the donating audience can contribute to the film’s story as well!
3 Interactive Elements: Bid / Ballot / Vote
Premise TV adopts an all-or-nothing funding model. If the project did not reach its goal, then the funds will be refunded to the audiences.
Fund Raising Period will last for either thirty (30), forty-five (45) or sixty (60) days, as mutually agreed between the creator and Premise TV.
Premise TV only takes a 5% cut for administrative fees and relevant third-party Mastercard/Visa fees like any other crowdfunding platforms. The creator will be given 95%+/- of the funds raised after deducting the admin fees.
There are also milestones for the creator to fulfill in a bid to safeguard the audience’s interest ‒ this is to prevent the creators from disappearing with the funds.
Milestone (1): After the Fund Raising Period on a weekly basis, you will update Premise TV and your fundraising page on the status of the project, including but not limited to storyboards, behind-the-scenes footage, and photos.
Milestone (2): You will submit a compulsory rough-cut edit of the project to Premise TV within 2 months after the Fund Raising Period.
A penalty fee of 10% of the amount raised during the Fund Raising Period applies for a failure to complete the milestones in accordance with the terms.
Pool of Funds
Premise TV does not take the penalty fees. Every penalized project of 10% will be transferred to a “Pool of Funds” for other filmmakers.
The pool of penalty funds will be given to the other filmmakers who have great projects that need the last push for them to reach their funding goals. Premise TV‘s curator team along with the audiences will have to vote for the deserving filmmakers to tap on the “Pool of Funds” based on the merit and popularity of the projects.
For crowdfunding projects, after the Fund Raising Period, it will also be automatically turned into Distribution.
In consideration of the mentioned options, Premise TV undertakes to pay you 50% of the amount raised for your video on the platform after the cessation of the Fund Raising Period.
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