Entrepreneur Access to Capital Act
The outlook on profit and substantial gain in independent film, in the climate of the last decade as well as the sputtering economy of today, has always been something of a hit or miss.
With some films taking the high-budget high-yield approach and others sticking to lower budgets perhaps in the hopes of swinging a profit or not losing much more than they spent, the prospect of creating new systems to perfect the balancing act is at the forefront of the industry.
The Entrepreneur Access to Capital Act is a structured balance to the crowd funding approach to funding films which allows for a higher yield of revenue to come strictly from that end (in the form of unregistered securities). You can access the official document here which outlines exactly what language passed through to be further voted on. The significance of this proposal is obvious: the independent film industry needs money, in any way it can get it. With festivals either dying out or cutting corners to find a way to stay afloat, we are slowly losing real estate on this great industry that allows for filmmakers to tell their story without the bells and whistles that “sell” through fifteen second overly stimulated commercial ads.
This article by Michael R Banard explains the document further and outlines what we must do to ensure that this Act passes and that it keeps independent film in mind.
