Are you finding it challenging to attract funding for your next online production?
Chances are that the answer is yes.
The tough economic climate is one reason, as potential advertisers and sponsors may have second thoughts about whether to back your show.
Innovation can itself also raise barriers. Arguably, the more original the project, the harder it may be to secure funding. A production's novel features may increase uncertainly about how it will be created, distributed and received by the online audience.
However, there are solutions.
We believe that producers secure funding because they approach Web shows as a new medium with fresh commercial as well as creative opportunities.
They've freed themselves - and their productions - from the constraints of pitching to a broadcaster, where a programme is typically aimed at a particular slot and demographic.
From Futurescape's international research into new creative and commercial models for Web series, we have identified nine funding approaches with proven effectiveness:
1) Solve a problem for the funder
2) Incorporate an industry that can be a sponsor - and attract even more sponsors
3) Match characters, themes and storylines with the funder's market
4) Match the show with the funding source's strategy
5) Match the format with the funding source's strategy
6) Gain in-company incubation and support in kind
7) Extend the production with new opportunities for others
8) Look ahead to show and format sales
9) P2P financing
1) Solve a problem for the funder
In October 2008, Bebo Director of Digital Content Dan'l Hewitt admitted to a serious challenge.
Bebo's successful original shows, such as KateModern, still gained just a tiny amount of overall video viewing on Bebo.
"The embarrassing thing is that we did a lot of research and spoke to hundreds and hundreds of Bebo users. None of them had even heard of KateModern, although the numbers [for the show] are incredible.
"We had over 70 million views of the show over 10 months. But if you do a billion streams a month, those 70 million views, as happy as the advertisers were [with them], it doesn't really dent the overall consumption that's going on on Bebo." (Hewitt, at the Hello Digital festival.)
There was a clear requirement for a way of encouraging Bebo members to view the original series. But what could take on the role of a TV channel's promos?
The show that solved the problem launched in January 2009. B-Box is a weekly six-minute entertainment magazine programme. It showcases Bebo's own productions, in the context of pop culture coverage (band and red carpet interviews) and content from Bebo members.
Crucially, production company RDF Digital had already established a relationship with Bebo through the multiplatform production A Message From Earth. This was a highly popular event that Beboers took part in during summer 2008. Hosts Alice Levine and James Cooper also appeared on the show, so may bring fans with them.
B-Box is sponsored by the government anti-knife crime campaign It Doesn't Have to Happen and Cadbury Creme Egg (which previously sponsored KateModern, so this represents an acknowledgment from Cadbury of Bebo programmes' effectiveness).
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