Funding

There are possibly many ways that you could fund your radio drama, here I will be looking at three methods:

Grant Funding:

Grants can be considered a great way for funding and are given by either a person, business or a public body. However, they are usually given under a condition and are expected to provide a public service and stimulate the economy. Here are two examples of different types of grants:

R&D Funding: 

These type of grants are often given by the government. Their purpose is to fund the commercial development of innovative products and services, and processes. In other words they invest in your idea expecting a higher overturn. 

Local Grants:

According to the official GOV.uk website it is Funds that are designed by Local Authorities for projects like activities for young people, volunteer programmes and development of communal facilities.

Advertisement:

A very common way to be funded through advertisement is through product placement. Product placement is when a product is put in a film or series and the actors are seen to be using it. This is a great way to influence an audience to buy your product as if they are attached to a character, it will compel them to use the product the character did. This is a very smart tactic as advertisements such as this are hard to skip as it is embedded in the script. It is a perfect way to quickly show your product and how, for example, refreshing it can be if it is a drink. This proves how it can be a great way to gain funds, as you only have to preview a product and will be paid in return.

Sponsorship:

The last method on this list is Sponsorship. This is when a company will fund your project in return for you to use the product and talk about it. It is commonly seen from gaming companies and actors will use their product and talk about how much they love it. This allows a great mutual benefit between both the funders and the recievers.