Back to IndieWire

Tugg and New Balloon Partner to Form Event Cinema Fund (EXCLUSIVE)

Tugg and New Balloon Partner to Form Event Cinema Fund (EXCLUSIVE)

Tugg has moved to plug one of the gaps in the marketplace. Over the past three years, Nicolas Gonda, co-founder and CEO of the on-demand movie site, which has been working with studios and indies alike in helping to match movies and audiences, realized that applying the right resources would help increase the value of movies down the food chain.

So Tugg is partnering with New Balloon, a cross-platform media company focused on advancing innovative storytelling technologies, to invest marketing and distribution resources for social impact projects. They will form a multi-million dollar Event Cinema Fund. Through the fund, both companies will provide high-impact investment capital, expertise, and other resources toward marketing and distributing culturally significant films.

The Event Cinema fund is a reaction to what, “looking back, looked like missed opportunities,” Gonda told me at the Art House Convergence in Midway Utah. “We could have expanded success by putting the right resources in place early.” Sometimes movies lacked the right champion to push forward initiatives with other organizations that might have yielded more success.

The new fund will work with filmmakers, allowing them to make choices. “This way we can double the bottom line by displaying responsible ways to support the filmmaker and the content, with transparency,” said Gonda.

Specifically, the fund will seek to promote films that engage and inspire audiences to cultivate healthy discussion, strengthen community, and strive towards positive change. Each film should demonstrate a direct relationship with its audience through some of the following: crowdfunding campaigns, regional and national organizational support, and corporate partners. Furthermore, each film should show a willingness to innovate through original means of storytelling, hybrid distribution models, and an understanding of the importance of community-driven screenings toward their overall campaign goals.

The fund will collaborate with studios, mini-majors, entrepreneurial independent filmmakers, and distributors to enhance traditional release strategies. It will capitalize on the proven capabilities of the Tugg platform, which includes theatrical, non-theatrical, educational, and new product offerings to be announced in 2015. The Event Cinema fund will partner with seasoned service providers and Impact Producers to build the infrastructure necessary for filmmakers to succeed within the current marketplace. Partnerships will be announced in the coming months.

Sign Up: Stay on top of the latest breaking film and TV news! Sign up for our Email Newsletters here.

This Article is related to: News and tagged ,

Get The Latest IndieWire Alerts And Newsletters Delivered Directly To Your Inbox