FUNDRAISER ENDS AT MIDNIGHT TONIGHT!!
Excuse me for the long update but I have been asked these questions quite a bit and thought it would be helpful if I addressed them to everyone:
"why not raise ticket prices to help with the funding",
"what about buying one projector now and the rest later",
"what will you do if you don't reach your goal" and
"will you stay in business if you don't reach your goal"
We initially thought about raising the ticket prices but decided not to for a couple of reasons. First is that we want to stay true to our business model which is to be an affordable family entertainment venue. Raising prices goes against this. Plus, 35-45% of every dollar we bring in goes to the movie studios so if we raised prices all we would be doing is putting more money in their pocket. No thanks.
I wish we could buy the projectors one at a time and spread out the payments but the reason we were forced to turn to crowdsourcing is that film won't be available after this year. We need to convert all now.
We still have several days left and are still hoping to reach our goal, or get close to it. That said, crowdsourcing is never a guaranteed success. We knew that going into this and we do have a backup plan. If we do not raise the full amount by the 30th, we will do other various fundraising events to close the gap.
The business is solid - we aren't raising money to keep the business afloat because we made poor business decisions - we're raising money to buy projectors we didn't know we'd need when we opened 7 years ago. The money raised is ONLY going to projectors - not to paying our bills. We've promoted the heck out of this thing online and in the media and we are hoping donations will continue to come in between now and the end of the campaign.
Thank you to everyone who has supported us! We are blown away by the support and we hope in these last four days, we can keep the momentum and get to our goal!
Seven years ago, we preserved an important piece of Portland’s cinematic history and helped transform an entire neighborhood in the process.
Now we’re at a crossroads, and we need your help. Simply put, without your financial support, rather than preserving history, we may become history.
Here’s the scoop: For close to a century, the words movie and film have been interchangeable. Soon this won’t be the case. By year’s end, all new Hollywood releases will only be screened digitally, rendering 35mm projection equipment obsolete.
If the Academy Theater wants to avoid the fate of those who believed “talkies” were simply a fad, we must convert from film to digital equipment as soon as possible. But that's not as easy as it sounds.
DIGITAL CONVERSION: Frequently Asked Questions http://www.academytheaterpdx.com/digital-conversion-fundraising/
What We Need & What You Get
Unfortunately, new equipment is incredibly expensive. Upgrading to digital projectors in all three theaters will cost approximately $96,000. Installation costs and necessary sound system upgrades will require an additional $21,000. As you can imagine, this is an enormous financial burden for a small independent theater.
Our (admittedly) ambitious goal is to raise $75,000 (or more!) by September 30, 2013. This amount will help cover the total cost of three new digital projectors, sound system upgrades, installation charges and Indiegogo processing fees. You can help us reach this goal by making a donation today.
In exchange for your contribution, we will reward you with one of the many fabulous incentives listed on the right hand side of this page.
Any amount, however small, helps push us closer to our goal.
Assuming we reach this goal, digital conversion will happen immediately (although installation of new equipment may take several days.) And once new projectors are installed, our movies will look and sound better than ever!
When we decided to restore the Academy, our goal was simple. We wanted to create a friendly neighborhood venue where families looking for a fun night out wouldn’t blow an entire paycheck buying popcorn, soda and a few movie tickets. For the past seven years we’ve sustained that goal by offering our patrons affordable entertainment, food and childcare in a beautiful 1940s setting. And the Montavilla neighborhood has thrived as a result.
We love our community, we love our theater, and we love how our theater has enriched the surrounding neighborhood in ways we never could have predicted. We know that you - the 2000+ patrons who visit the Academy each week - feel the same way. That is why we are hoping that -- with your help – we can continue to be a vital part of the Montavilla neighborhood for many years to come.
Other Ways You Can Help
Even if you can’t contribute financially, please know that you can help by simply spreading the word! Just share this page with family, friends and colleagues -- or post it to Facebook and Twitter -- and encourage others to do the same. Our fundraising campaign can only be as successful as we are in spreading the word about it.
In closing, we’d like to thank you, both for your patronage over the past seven years and for taking time to learn about our fundraising campaign. If there’s one message we hope you take away from our campaign, it’s this:
Without your support, we’d be history!
About The Academy: Originally launched in 1948, the Academy Theater was a popular Southeast Portland destination until its closure in the 1970s. Three decades of neglect took their toll, but a full-scale renovation was completed in 2006. Great attention was paid to every detail of the project. Using vintage photos of the theater’s first incarnation, the glittering rounded lobby and signature marquee were restored to perfection, imbuing the building with authentic 1940s charm. For more information, please visit our web site at www.academytheaterpdx.com.