How Quickly Things Progress

If you want some evidence about how quickly new technologies and methods of doing business are having an impact on our lives, check this out:

In May 2009 I wrote about the potential legal consequences of posting solicitations for project investors online.  It just so happens that Kickstarter was founded a month before, April 2009, but it hadn’t really started to have a noticeable presence.

October 2011 I started writing about legislation and rule changes starting to take place that would remove many of the previous limits that limited giving to Kickstarter type campaigns to donation status rather than allowing investment with an expectation of return.

By December 2011, people were talking about this as a potential funding model for productions with Off-Broadway show or smaller budgets.  A short time later, people were writing that some of the limitations may not be conducive to those type of project.

I am not sure where things stand at this time. I know the laws have continued to evolve. In 2015 Broadway producer Ken Davenport wrote about how recent regulation changes would have made the crowdfunding effort he engaged in for 2012 Broadway production of Godspell a lot easier. At the time he claimed, “Yep, my friends, for-profit crowdfunding is here.”

This might be a funding model people would want to look into for future projects.

While it didn’t seem like it unfolded that quickly at the time, looking back I am surprised as how quickly things transitioned from the founding of a crowdfunding platform to the establishment of a critical mass that made authorization of new avenues of investment important. (Though granted, anything that facilitates the flow of money for investment is going to be prioritized in the US)

 

About Joe Patti

I have been writing Butts in the Seats (BitS) on topics of arts and cultural administration since 2004 (yikes!). Given the ever evolving concerns facing the sector, I have yet to exhaust the available subject matter. In addition to BitS, I am a founding contributor to the ArtsHacker (artshacker.com) website where I focus on topics related to boards, law, governance, policy and practice.

I am also an evangelist for the effort to Build Public Will For Arts and Culture being helmed by Arts Midwest and the Metropolitan Group. (http://www.creatingconnection.org/about/)

My most recent role was as Executive Director of the Grand Opera House in Macon, GA.

Among the things I am most proud are having produced an opera in the Hawaiian language and a dance drama about Hawaii's snow goddess Poli'ahu while working as a Theater Manager in Hawaii. Though there are many more highlights than there is space here to list.

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