Proof that crowdfunding is breaking out the box to become a powerful viral force in current culture comes on news of a reality TV show about it, Reality Crowd TV.
Television’s people
The show will focus on how Americans can use crowdfunding as a finance tool to raise cash to start a small business, fund a creative project or donate money to help make the world a little better.
“Our Reality TV show aims to show exactly what it takes to be a successful entrepreneur and what is needed to run a successful business and fundraising campaign, specifically highlighting the Crowdfunding movement as a way to finance the costs of bringing the entrepreneurial dream to reality,” the group says on its site.
The show makers say they are launching the series to try to educate entrepreneurs and investors into how to use these services properly:
Crowdfunding wisdom
“Most project creators when they first hear about crowdfunding have a great idea one day and are launching their crowdfunding campaigns the next. This is a recipe for failure,” says Founder Manolis Sfinarolakis.
They quite rightly point out that successful pitches need to be put together across a 3 to 6 month time frame in order to build enough momentum to raise 30% of a crowdfunding campaign’s funding goal within the first week. Why? Because when you reach that goal, all the stats so far suggest there’s a 90% chance project creator’s will get the rest of the cash they need. And investors look for ideas that break that magical 30% mark.
Reality Cloud TV hasn’t won a contract with a mainstream TV channel yet – though it seems pretty possible it will in a kind of “Dragon’s Den meets the Internet” way. And it seems pretty certain that someone somewhere down the line is going to pitch a TV show like this one.
Reality Cloud TV has announced its July programming and events calendar.
