The movie Argo may have picked up the biggest prize in last week’s Academy Awards ceremony, but it was the Best Documentary Short winner that had many on the Internet buzzing. Inocente, a film about a 15-year old homeless girl who dreams of becoming an artist, took home the Oscar and in the process became the first Internet crowdsource funded film to win Hollywood’s biggest award. Last year, the film raised $52,527 on Kickstarter, a crowdsource funding website that has raised over US$100 million to support the creation of independent films.
My weekly technology law column (Toronto Star version, homepage version) notes that the emergence of crowdsource funding – or crowdfunding – points to the power of the Internet as an important source of financial support for independent creators, whether film makers, musicians, software programmers, or authors. Crowdfunding enables creators to raise funds through small contributions from the public by publicizing their project using the Internet and social media sites. Crowdfunding success stories encompass new products, companies, and community initiatives, but movies have fared particularly well.