Rocket Hub and Ovation Team Up to Bring Crowdfunding to TV
There are hundreds of online crowdfunding platforms, but this fall, crowdfunding gets a new platform: television.
Crowdfunding platform RocketHub, which was recently acquired by entrepreneur network EFactor for $15 million, has partnered with independent network Ovation TV to launch a TV special about creative people raising money to fund their dreams through crowdfunding.
The TV special, which does not have a name yet, will be available to a potential audience of 50 million strong. (The Ovation TV network includes subscribers from Comcast Cable/Xfinity, DIRECTV/AT&T U-verse, Time Warner Cable, Verizon FiOS, Charter Communications, Bright House Networks, and a handful of other smaller providers.)
The television special will feature three artists and will tell their story, what they are working on and what it is like to raise money on a crowdfunding platform.
“Ovation is committed to empowering the next generation of artists. We are inspired and motivated by the level of talent in the independent artistic community,” says Charles Segars, CEO of Ovation, in a statement announcing the initiative, which has been dubbed "Creative Studio." “Creative Studio addresses a very real obstacle that many artists face in obtaining funding for their projects.”
The top three contenders, as determined by a panel of judges, also get $5,000 each to go towards whatever project they are raising money to support.
To be considered for the prize, artists need to apply between now and Sept. 4, 2015. Those creative entrepreneurs who are selected will get coaching throughout their process -- from advice on what they need to do before the campaign launches to how best to socialize their project on social media -- in addition to the organic publicity that comes with being on a television show.
Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.