By now, the concept of the peer to peer, or sharing economy, is firmly entrenched in the cultural consciousness. Services such as Uber and Airbnb have effectively disrupted the status quo in favour of the everyday consumer. The sharing economy has forced taxi cab and hotel businesses to engage with the consumer on a more personal level, both in terms of cost and accessibility.
While taxi services and hotels are certainly ripe for disruption, as proven through the success of Uber and Airbnb, there are still gaps in the sharing economy for creatives looking for an edge in a highly competitive market. The independent film business, even more so than other creative industries, is particularly expensive for those just starting out. It is estimated that independent film makers, in the first four years of their career alone, would need upwards of $100,000 just to sustain their content creation. Anyone who has even the smallest insight into the film business knows that quality content often takes a big budget. The recent success of low budget films like Tangerine and Steven Soderbergh’s upcoming film which were both shot on smartphones, are the exception, not the rule, in the film industry.
The cost to hire professional actors, successful cinematographers, and high quality kit can be exorbitant. That is where the sharing economy, which has effectively lowered costs in other markets, can save independent film makers a significant amount of money. With BorrowFox, the price of using high quality film equipment is drastically lowered. With a BorrowFox account, an independent film maker has access to everything he or she might need from a technical standpoint: cameras, lenses, lights, dollies, and even drones at discount prices.
As is the case with Airbnb, BorrowFox users can also lend their own items and make back some of the high costs associated with purchasing high end kit. For example, if a user has already invested in a Red Epic Camera which carries the hefty price tag of upwards of £30,000, they can safely rent out their kit and make a return on their investment. The BorrowFox platform has a speedy, yet thorough background service to ensure that every piece of equipment is in good hands. Additionally, the cost of insurance is built in to every transaction, meaning a lender can make cash while having complete peace of mind.
The sharing economy is, first and foremost, about making, and saving the average consumer money. However, when it comes to creative industries, networking with other likeminded creators can be just as valuable. BorrowFox’s partnership with Hiive, a London based professional network for creatives, makes the site even more appealing. A BorrowFox lender might look to work with an individual he or she rents his or her kit to, and vice versa.
Whether that is to spread cost, or create a network of likeminded potential collaborators the future of independent film is likely to rely on the effectiveness of the sharing economy.