LOS ANGELES, April 30, 2012 /PRNewswire/ -- Independent Film Development Corporation(OTCBB: IFLM), an international distributor of digital films and producer to the multibillion dollarIndependent Film Industry, announced today it is establishing a crowdfunding component on itsInternet based entertainment company,www.HollywoodIndy.com, for the funding of independentfeature films. The crowdfunding platform being developed by the company will allow filmmakers toseek funding for their films, using a donation type platform very similar to Kickstarter and Indiegogo."Filmmakers generally face two major hurdles when producing an independent film; if you findfinancing, you are lucky to get your film in the can. But without distribution, it never goes anywhere.We can offer filmmakers both financing and distribution," said Jeff Ritchie, CEO of Independent FilmDevelopment Corporation."We are shaping Hollywood Indy as a one-stop shop for filmmakers, with development and productionresources, financing and distribution," said Pat Peach, head of development at Hollywood Indy.Crowdfunding is a recent phenomenon that has developed and thrives on the Internet. Almost half ofcrowdfunding monies have been utilized in film and video projects.About HollywoodIndy.comHollywoodIndy is an entertainment based Internet property specializing in social networking andresourcing for independent film and television market. The property aims to be a one-stop resourcefor working film professionals in the industry, sharing employment and job resources, servicingscreenwriters, casting, lodging, location personnel and support services for both above the line andbelow the line professionals. While the brand integrates with the Company's business model, planscall for the brand to have an independent revenue model to include advertising, paid posts,membership services, video and film distribution services. HollywoodIndy will leverage itsrelationship with its parent company to provide not only crowd funding, but distribution and presalesfor qualified film projects.About Independent Film Development Corp.Based in Los Angeles, California, Independent Film Development Corporation is developing a multi-pronged approach to integrate the multi billion dollar independent film market to include web, salesand distribution and development.Forward-Looking Statements:This press release includes forward-looking statements concerning the future performance of ourbusiness, its operations and its financial performance and condition, and also includes selectedoperating results presented without the context of accompanying financial results. These forward-
HollywoodIndy.com to Establish New Crowdfunding Platform -- LOS...http://www.printthis.clickability.com/pt/cpt?expire=&title=HollywoodIn...1 of 24/30/2012 5:45 PM
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