LOS ANGELES, April 30, 2012 /PRNewswire/ -- Independent Film Development Corporation (OTCBB: IFLM), an international distributor of digital films and producer to the multibillion dollar Independent Film Industry, announced today it is establishing a crowdfunding component on its Internet based entertainment company, www.HollywoodIndy.com , for the funding of independent feature films. The crowdfunding platform being developed by the company will allow filmmakers to seek funding for their films, using a donation type platform very similar to Kickstarter and Indiegogo.
"Filmmakers generally face two major hurdles when producing an independent film; if you find financing, you are lucky to get your film in the can. But without distribution, it never goes anywhere. We can offer filmmakers both financing and distribution," said Jeff Ritchie, CEO of Independent Film Development Corporation.
"We are shaping Hollywood Indy as a one-stop shop for filmmakers, with development and production resources, financing and distribution," said Pat Peach, head of development at Hollywood Indy.
Crowdfunding is a recent phenomenon that has developed and thrives on the Internet. Almost half of crowdfunding monies have been utilized in film and video projects.
HollywoodIndy is an entertainment based Internet property specializing in social networking and resourcing for independent film and television market. The property aims to be a one-stop resource for working film professionals in the industry, sharing employment and job resources, servicing screenwriters, casting, lodging, location personnel and support services for both above the line and below the line professionals. While the brand integrates with the Company's business model, plans call for the brand to have an independent revenue model to include advertising, paid posts, membership services, video and film distribution services. HollywoodIndy will leverage its relationship with its parent company to provide not only crowd funding, but distribution and presales for qualified film projects.
About Independent Film Development Corp.
Based in Los Angeles, California, Independent Film Development Corporation is developing a multi-pronged approach to integrate the multi billion dollar independent film market to include web, sales and distribution and development.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Independent Film Development Corporation