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UPDATED: Zach Braff's Kickstarter film has now grabbed a financial backer to fund project

05.15.2013

UPDATE 2: Fellow editor Jesse Giroux just sent us a project update that was that was emailed to those who contributed to Braff's project on Kickstarter. The update is rather lengthy but is titled "Project Update #23: Correcting "The Hollywood Reporter". Braff states that Worldview is not fully funding the project, only providing gap financing as Variety already reported. The three sources of funding are between Kickstarter, Braff's own money, and pre-selling foreign theatrical distribution which will come to a total budget of around $5-6 million dollars. He has no idea where the $10 million number came from. Nothing about making the movie has changed. Just because Worldview has provided gap funding they will not interfere with the creative process. Braff points out that tons of people out there are calling him a "douchebag" these days, but I think giving your backers "aka fans" the truth is far from a douchebag move.

UPDATED: A new report from Variety is shedding less of a shady light on this situation. Worldview Entertainment will possibly only provide gap funding depending on how they do at Cannes: "Because the film is scheduled to begin shooting in August, the production won’t have enough time to get bank loans against foreign pre-sale letters. Worldview essentially backstops those loans, supplementing the dollars raised on Kickstarter, which currently amounts to $2.6 million, and an unspecified sum Braff himself has ponied up." That sounds a lot more legit than the situation that we previously thought it was. Will update again when Braff clears everything up.

THR is reporting with news out of Cannes that Zach Braff has a financial backer for his Kickstarter funded film, WISH I WAS HERE.

Worldview Entertainment will "fund much" of the film which has already raised $2.6 million from fans on Kickstarter alone. But wait...I know what you're thinking, "I thought Braff already got financing. That's what you just said, right?" That's indeed what I said. THR says that the budget for the film is now under $10 million but didn't he say recently that it was $5 million with the rest coming out of his own pocket? Unless I'm completely misreading the situation. Didn't he even say that it would be "in poor taste" to take any money from anyone in the industry after doing a campaign like Kickstarter?

This is the exact exchange with LA Times:

LA Times: Have any industry types who’d rejected you before come and said, ‘You know, maybe we were too hasty. Can we get back in?'

Zach Braff: Of course. It’s always like that for me. It was like that with 'Garden State. It was like that with the play I did a few years ago (the dialogue-heavy comedy 'All New People,' which played off-Broadway and then on the West End). People who were cold suddenly are hot after it comes out.

LA Times: Would you take any of their money now?

ZB: I think that would be in bad taste for all the people who are backing this. It wouldn’t be in the spirit of the thing.

Sorry, still trying to grasp this. I really, really like Braff so I'd hate to think that he basically used Kickstarter for the sole purpose of drumming up publicity for his film instead of just simply find backers of his own. Basically the Kickstarter campaign got people hot again...

If you aren't too happy about this news and were one of the 38,000 who contributed, you can cancel your pledge since the campaign hasn't ended yet. I'm sure Braff will have something to say about this news due to the fact that this has been a controversy for the actor from the start. So what say you, Mr. Braff?

Source: THRLA Times

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6:50AM on 05/16/2013
Millions of people starving but Zach Braff gets 2.6 million dollars to make another "classic".

What a world.
Millions of people starving but Zach Braff gets 2.6 million dollars to make another "classic".

What a world.
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7:17AM on 05/16/2013
Millions of people starving but all of hollywood still makes multi-million dollar movies. Wow. Shocker. Businesses trying to make money.
Millions of people starving but all of hollywood still makes multi-million dollar movies. Wow. Shocker. Businesses trying to make money.
11:56AM on 05/16/2013
No shit, bud. Take a second next time before you reply, I didn't say 2.6 million for nothing. I was referring to the fans (i.e. people) who won't spend a dime on their fellow starving man but will to see a fucking Zach Braff flick.
No shit, bud. Take a second next time before you reply, I didn't say 2.6 million for nothing. I was referring to the fans (i.e. people) who won't spend a dime on their fellow starving man but will to see a fucking Zach Braff flick.
6:47PM on 05/16/2013
Well, the quality of the film in question is really a matter of taste. Lots of people (clearly) like Zach Braff. So you can't say that because an equal number of people dislike his work, that the people donating money are immoral monsters for not giving that money to feed the starving. If you want to make that case, then you the only way to make it would be to assert that no one should spend their money on frivolous non-necessities (like cinema) when there are people starving in the world?
Well, the quality of the film in question is really a matter of taste. Lots of people (clearly) like Zach Braff. So you can't say that because an equal number of people dislike his work, that the people donating money are immoral monsters for not giving that money to feed the starving. If you want to make that case, then you the only way to make it would be to assert that no one should spend their money on frivolous non-necessities (like cinema) when there are people starving in the world? Given that this is a film site, I'm guessing you see movies from time-to-time, and you probably don't actually want to say that.
2:56PM on 05/17/2013
Ah, assumption, mother of all fuck-ups, rearing your ugly head once again...
I didn't call anyone immoral, I never said anything about the quality (or lack of) of Zach Braff's film/talent, I never said spending money on movies is a "frivolous non-necessity" (though I am saying you're being rather redundant there).
All I'm saying is, some people starve and some people get 2.6 million dollars to make a movie. There's very little to argue about here, unless you start over-analyzing my comment
Ah, assumption, mother of all fuck-ups, rearing your ugly head once again...
I didn't call anyone immoral, I never said anything about the quality (or lack of) of Zach Braff's film/talent, I never said spending money on movies is a "frivolous non-necessity" (though I am saying you're being rather redundant there).
All I'm saying is, some people starve and some people get 2.6 million dollars to make a movie. There's very little to argue about here, unless you start over-analyzing my comment and projecting your own thoughts... like you did.
3:48AM on 05/16/2013

people

Gave him money?

[link]

He is a douchebag!!!!
Gave him money?

[link]

He is a douchebag!!!!
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4:32AM on 05/16/2013
On this rare occasion I actually agree with you a.kavanagh. Braff is a complete and utter douchebag and i was hoping he would go away already.
On this rare occasion I actually agree with you a.kavanagh. Braff is a complete and utter douchebag and i was hoping he would go away already.
9:27PM on 05/15/2013

ZB answers, here is something he just sent us backers

Dear All,

The movie trade publication "The Hollywood Reporter" released an article today with a lot of wrong information about our project and I need to clear up some of what they said. I seem to get called a "douchebag" quite often these days. And that's fine; not everyone's gonna root for my success... but I can't sit by while my fans get wrong facts.

This is a whole new way of making a movie. There is lots of discourse on Earth about it. Some of it is very misinformed. Let's clear it
Dear All,

The movie trade publication "The Hollywood Reporter" released an article today with a lot of wrong information about our project and I need to clear up some of what they said. I seem to get called a "douchebag" quite often these days. And that's fine; not everyone's gonna root for my success... but I can't sit by while my fans get wrong facts.

This is a whole new way of making a movie. There is lots of discourse on Earth about it. Some of it is very misinformed. Let's clear it up so you have it from my mouth. I will tell you the truth. As David Mamet's writes in his masterpiece, "Glengarry Glen Ross": The truth is the easiest thing to remember:

The Truth:

— The story out there about the movie being fully funded by some financier is wrong.

I have said on here and in every interview I've done on this project that the film would be fully financed from 3 sources:

My Kickstarter Backers
My own money
Pre-Selling foreign theatrical distribution.
Those three amounts will bring us to a budget of around 5 to 6 million dollars.

— Nothing about the making of this movie has changed. This movie is happening because backers funded it.

This film would not be happening without my backers. The traditional way is to have a financier put up the money and then sell the foreign rights. What I did, was to say to my fans, "If you and I provide the capital, we don't need some rich dude dictating how we make the movie; we can then go sell foreign distibution and we'll be all the way to our goal. Are you interested in that? So far 38,455 people have said yes.

— What happened today is that a financial company agreed to fill in the gap between what Kickstarter backers have funded and what I have put in, and what the movie will actually cost. Shooting could not happen without this.

When you pre-sell foreign distribution, you don't get that money for some time. So you need to go to a company to provide something called "Gap Financing". They are essentially a bank. Loaning us the "gap" between what we've raised together and what we need to actually make the movie. I have no idea where a 10 million dollar number came from but it is wrong and a lie.

— This loan is secured against proceeds generated by selling the foreign rights to the movie. That's been the plan all along.

This loan, helps us start! We're opening an office and casting and we're fully under way. We couldn't be doing that without "Gap Financing" to cover our... (wait for it) gap. As these foreign sales are occurring as we speak at the Cannes Film Festival, you will likely be hearing more and more about them. It is good for us! More eyes on our movie.

— The film business is weird and complicated, and this is a great example of how that's the case. Consider this our first lesson in The Biz.

Let's be frank. There are people out there who don't want this to work. There are people out there rooting for me and you (if you're a backer) to fail. There are bloggers writing hateful things about me. I can take it. I'm kind of used to it. I hope you can. But if you feel misinformed or you no longer like this, you can cancel your support anytime in the next 8 days.

— This whole process has been amazing and is happening because of you. We repeat: because of YOU!

No matter what the haters write, this would not be happening without your support. If I failed at the end of the time allotment, this film would be put on a shelf, like others I've tried to make since "Garden State". But it didn't fail. It's making the whole Earth talk about the future of financing movies no studios want to make.

— Sorry for the momentary distraction. Let's get back to making a great fucking movie.

I'm sorry for the hoopla. I'm sorry if your friends think you've been duped. But you haven't been. This is real. Crowd-sourcing films is here to stay. Love me, hate me. We're gonna make a killer fucking movie. And I love you for it.

To my detractors, I shall continue to seek your approval in the most mentally unhealthy ways possible, much to my loved ones' chagrin.

To my BACKERS, A giant casting announcement is coming in a few hours.

I love each and everyone of you. And that... is the truth.

ZB
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9:02PM on 05/15/2013

I am a backer

I am backer and I am neither surprised or bothered about this. I am also sure I heard or read an interview where he mentioned that he would put up his money and try to find investors that didn't demand creative control or final cuts and whatever was pledged would be used to simply make his movie better. He also mentioned he was trying to make a 25 million dollar movie for 10 million dollars, since there are visual Fx involved unlike Garden State. I have been getting a healthy amount of
I am backer and I am neither surprised or bothered about this. I am also sure I heard or read an interview where he mentioned that he would put up his money and try to find investors that didn't demand creative control or final cuts and whatever was pledged would be used to simply make his movie better. He also mentioned he was trying to make a 25 million dollar movie for 10 million dollars, since there are visual Fx involved unlike Garden State. I have been getting a healthy amount of updates, will get a t-shirt, advanced screening and a script so for me its all worth it and will as a fan will enjoy seeing the whole process.
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8:51PM on 05/15/2013
At least pick a non-douchey picture for this article
At least pick a non-douchey picture for this article
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8:44PM on 05/15/2013

I'd say the true purpose of Kickstarter IS to drum up an audience/publicity

.
.
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8:38PM on 05/15/2013
Glad that the film got funding because ever since I saw Garden State for the first time I've been eagerly waiting his next directorial film. I hope he does have final say and artistic control.
Glad that the film got funding because ever since I saw Garden State for the first time I've been eagerly waiting his next directorial film. I hope he does have final say and artistic control.
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9:49AM on 05/16/2013
If you have that big an interest why not give him some cash?

If you have that big an interest why not give him some cash?

+10
8:07PM on 05/15/2013
God, just chill already. Also, I love this site, I really do, but this one of the most lopsided and whiny pieces of reporting I've ever read. I mean, encouraging people to cancel their pledges? Come on. There's a big difference between a financial backer and being a studio project. Am I the only one who's glad the film is happening and that it's happening autonomously?
God, just chill already. Also, I love this site, I really do, but this one of the most lopsided and whiny pieces of reporting I've ever read. I mean, encouraging people to cancel their pledges? Come on. There's a big difference between a financial backer and being a studio project. Am I the only one who's glad the film is happening and that it's happening autonomously?
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7:44PM on 05/15/2013
More bullshit melancholy from a guy who has it all! As Tony Montana says, we need people like him.
More bullshit melancholy from a guy who has it all! As Tony Montana says, we need people like him.
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7:31PM on 05/15/2013
The people who contributed still got cool stuff for doing so. I Don't really care as long as he still gets total artistic control.
The people who contributed still got cool stuff for doing so. I Don't really care as long as he still gets total artistic control.
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