Crowdfunding is a new concept in fund-raising where the power of communities is leveraged to generate money, generally through numerous small donations. There are several internet sites that provide this service, most notably Kickstarter and Indiegogo. The sites work on a per-project basis. The fund raising company or organization posts a project, and sets a fund raising goal and deadline. Users can then go and donate towards their desired project. The site collects and pools the money for a small fee and at the end of the fund raising deadline provides it as a lump sum to the company or organization.
This type of fund raising can be ideal when small amounts of money are being raised to be put towards a specific project, including the conversion of old media from archaic storage types to more modern digital formats. The power of large groups can be utilized through many smaller donations. This allows the group doing the fund raising to collect without having to directly contact its donors and also allows for the collection of donations in small amounts through credit cards, something not all organizations or companies are equipped to do or can do practically. It also allows donors who may not even be related or informed of the project or organization in any way to find and donate to the cause. A great example of this in action is a church raising money for the conversion of old sermons stored on magnetic cassette tapes into MP3 format or a political organization seeking to convert videos of political speeches or events stored on VHS tapes onto DVDs.
Typically, donors to these types of projects are offered rewards for donating at a certain level. For instance, in the above examples donors to the church at a level of $5 or more may be offered a copy of the sermons to download, or donors to the political organization may be offered their choice of DVD copy for a donation of $20 or more. Crowdfunding is a great way to finance your media conversion project for organizations and companies large or small. Once you have secured the necessary funding, Media Transfer Labs is the right company to do the job. Contact us today for a quote, and get your media modernized with Media Transfer Labs!