Weekends with Alex Witt | March 17, 2013
>>> a cult tv show is headed to the big screen thanks to some impressive fundraising by fans. " veronica mars " was cancelled after one season. after turning to crowd funding sites, kick starter, $2 million was raised in less than 10 hours. in fact so far this project has paided more than $10.5 million.
>> it really is a renaissance.
>> to say that the fans of this show are big-time fans, that is the understatement of the year. look what they have done. how surprising is how radically changing is this?
>> it's stunning that they not only raised enough money, but they did it fast. in just a few hours, the whole movie made it's goal of $10 million. and you can see the numbers go up every few seconds.
>> you have to wonder why a show that has this kind of fan enthusiasm was cancelled in the first place.
>> ratings was the reason. i don't think it really cracked the top 100 shows. but i was a big fan , people who loved this show, really, really loved it.
>> this is a case of social net working meeting venture financing. you heard someone there, the creator saying they paid like $10,000 for a part. it's really creative how this all gets going.
>> on kick starter you can get incentives if you donate. so for $10 you get a script of the veronica mars movie and it goes on up to being able to name a character in the movie.
>> so do you think this is going to be the catalyst for more?
>> i think it could be, but a lot of people who have similar projects might just wait and see. we don't know what's going to happen, we don't know if people are actually going to go see it. you would have to assume so with 54,000 backers. i think it will, like other projects will come up on kick start like this.
>> and it also might have a downside because the studios might look at this and go, hmm, interesting, look how they're doing the financing.
>> there are a couple of down sides and that's one, if you have a movie that you want to make that's not a sure fire blockbuster hit, the studio can say, go and raise the money yourself. and the other thing that could be not so clean, if this movie is really successful, about the fact that the people who are investing in it aren't getting any financial return . that return, is you would guess going to the studio.
>> they have gotten $3.5 million. you're saying stop because there are other places to put your money.
>> i did suggest that. and some people argue with me. the movie has been green little, warner bros . said okay, it's happening and i'm a little bit concerned that i think projects like this might overtake kick starter and that website is for more people who are really starving artists to get their work made. so i pointed out a few smaller projects. $2 million is huge, a of these artists or filmmakers just want a couple thousand bucks or