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Boosted Works for the Arts

MEDIA RELEASE
10 DECEMBER 2013

Boosted Works for the Arts
$250,000 in new cash for the arts proves new crowdfunding model

Boosted, New Zealand’s crowdfunding platform for the arts has funded 45 arts projects, granted $250,000 and has a success rate of 62%. It is being celebrated as an effective and exciting new way to fund arts projects.

Run by an experienced team of business leaders, who are themselves artists with an understanding of the commercial landscape in which artists work, these achievements give the Boosted team an opportunity to celebrate its position in the New Zealand market and confirms that Boosted’s unique method of crowdfunding is working very well.

There is a proliferation of crowdfunding websites internationally and a growing number of sites in New Zealand catering for different needs. The main measure for site performance is the percentage of projects that reach their funding goals. This is because most sites return donations to donors for projects that do not reach their goals.

With other international and national success rates averaging less than 50%, Boosted has achieved a success rate of 62%. The Boosted team’s approach to work closely with artists and arts professionals on their individual endeavors’ has helped drive this exceptional success rate. Boosted has now established its reputation as the go to crowdfunding environment for New Zealand artists.

Boosted Manager Mark Michel said the team will use this milestone as an opportunity to celebrate with the arts community, having established a trusted way for artists to raise the funding they need to bring their projects to life.

“We are looking forward to marking this significant milestone by toasting a successful eight months. While the New Zealand crowdfunding market is becoming more crowded, we believe we offer a proven environment that works hard for New Zealand artists, backed by a passionate team who are building an ecosystem that will deliver a long term funding solution,” said Michel.

A not for profit, where 100% of the proceeds are used to benefit the arts, Boosted as purpose built by the Arts Foundation of New Zealand to support the arts. It differentiates from other crowdfunding websites in a number of ways including providing high-level campaign advice to projects within the context of a deep understanding of the funding opportunities for artists. It also enables artists to reward their audiences in sophisticated ways that do not require costly items in return for pledges like CDs and T shirts as is required on other sites.

Donors win on Boosted as well as all donations qualify for a tax credit. Donors receive a 33% tax credit on any donation made to a project, while the artists receive 90% of donation, with 10% retained to help the Arts Foundation run Boosted and cover hard costs. “We have had a great response to the tax effective status of donations on Boosted”, said Michel. “There are a number of donors that make significant donations and many who make regular small donations. These donors tell us they are looking forward to receiving their tax credit at the end of the year”.

Highlights from 2013 include Boosted’s first successfully funded project, Gabby O’Connor’s Some Time, which was 153% funded, the extra funds allowing an “unexpected level of support removing many of the usual stresses that occur when trying to make art happen - namely the financial ones,” commented the artist.
The Big Bang, Drum up Support Appeal is another recent success story, gaining 103% of the project target, $25,000. The Big Bang will see 200 young drummers from Auckland and Wellington, in a drumming group led by top percussion ensemble Strike and special guests, open the 2014 New Zealand Festival with an explosive event in Wellington’s Civic Square.

The recently successful NZ Dance Company’s’ ‘Rotunda to Holland’ project will allow the Company to take this already acclaimed work to the prestigious Holland Dance Festival in February 2014, a festival that is famous for celebrating the world's most exciting dance companies. Run by Shona McCullagh, as an Arts Foundation Laureate, Boosted is excited to see that we continue to add value to the incredible work and talent in our community.

THE BOOSTED TEAM

Boosted is run by a talented team of professionals, who understand the challenges artists face in raising the funding they need to keep pursuing their chosen field.

Boosted Manager Mark Michel is a musician and composer who before joining the Boosted team was Regional Manager Australia and New Zealand for Mobile Technology company, The Hyperfactory.

Mark brings a wealth of experience in the digital space having a proven track record leading award winning teams and delivering business growth.

“Boosted exists in this incredibly exciting space, where the analogue world is merging with the digital and is enabling New Zealand artists and the crowd alike a real voice and value within its ecosystem,” said Michel.

Michel is joined in the core team by dedicated arts administrator Bryna O’Brien with over 10 years’ experience in the arts industry.

The other driving force behind Boosted is the Executive Director of the Arts Foundation, Simon Bowden. An award winning musician, who plays in a number of bands, Bowden has led the Arts Foundation for 11 of its 13 years.

Bowden is a tireless campaigner for the arts and was the driving force behind Boosted, establishing it through the Arts Foundation to build a new generation of arts donors

“The Arts Foundation is growing arts philanthropy in New Zealand from the ground up. Boosted gives everyone an opportunity to give to the arts and through it we are providing a much needed lifeline for kiwi artists,” said Bowden.

Michel and Bowden lead a passionate team and are supported by a board, Chaired by Entrepreneur Derek Handley.

Handley is joined on this board by a stellar group of brand and digital experts including vastly experienced brand and business builder Tony Balfour, current GM of Marketing for Trade Me Aimee McCammon, and Natalie Sutherland ex General Manager Brand and Communications at Vodafone NZ.

Boosted has an Advisory Panel that heralds Social Media guru Vaughn Davis, Director of mobile agency ui.revolution Brani Mead, CEO & Founder of 90 Seconds TV Tim Norton, Director of Strategy Design and Advertising Auckland Martin O’Sullivan and TV Presenter and Entrepreneur, Brooke Howard-Smith.

With the landscape for philanthropy changing at such a rapid pace, this group of visionaries is well placed to guide Boosted, a platform built by New Zealanders for New Zealand arts projects, as the market leader.

2014 will bring more exciting innovations and developments to the site and the supporting ecosystem, as the funding platform continues to evolve to best suit the needs of the arts community and those who want to support them.

ENDS

Arts_Crowdfunding_Comparison_New_Zealand.pdf

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