PodFund is being billed as the first crowdfunding platform for “new media”. Specifically this refers to podcasts, internet radio stations or videos in need of a capital injection. The site goes live March 3rd.
Robert Becker, Founder of the new platform, said:
“The Internet has completely changed media creation and consumption. Anyone can produce audio or video and reach their audience, but taking your project to the next level comes at a price. We wanted to build a vehicle to help creators connect with their supporters and raise money to support their passion. Whether it’s for equipment, arranging meetups, or even to rally aid for a fan in need, as long as it relates back to web audio or video, PodFund is here to help.”
Both donation and rewards-based campaigns may list on the site. Only US residents can currently run projects via the site, but PodFund hope to branch out overseas in time. Entrepreneurs can choose between the all-or-nothing and keep-what-you-earn (“flexible”) types of campaign. It is becoming increasingly commonplace for crowdfunding platforms to offer the option of either style. PodFund only deduct a fee from successful campaigns. They take 5% of funds raised by all-or-nothing projects, and 8% from flexible campaigns. The WePay payment system charges an additional transaction fee of 3-4%.