In the season 12 premiere episode, which aired last night, Lifetime’s Project Runway added a new creative element to the show, as it was revealed designers now have the responsibility of managing a full-season budget. This will be done using GoBank, the FDIC-insured bank account that is designed from the ground up to be opened and used on a mobile device. This is the first financial integration ever for the long- running series. Throughout the season, contestants will utilize GoBank accounts to make and track purchases, as well as manage spending. This year’s winning designer will be awarded $150,000 from GoBank to launch his/her own line.
Up, up and away! The winner of last night's challenge in the season premiere of Project Runway stole the look with this parachute design. (Photo: Lifetime)
“The GoBank integration aligns perfectly for the new creative direction of this season,” said Lance Still, executive vice president of Integrations for The Weinstein Company. “Fashion is an art, but it’s also a business. This year, we are providing designers with a budget upfront and they must decide how much to spend for each challenge.”
In previous seasons, designers have been given an envelope of cash for each individual challenge. As a twist in season 12, GoBank provided designers with $4,000 to manage throughout their time on the show. Contestants will use their GoBank account and debit card in every episode, as well as budgeting features such as the Money Vault (to set money aside) and the Fortune Teller (to determine if they have enough money to make a purchase) to determine if they have enough money in their account to make a purchase during each challenge.
“Project Runway teaches designers the skills they need to launch their own collections. Part of that is managing your business expenses,” said Sharon Pope, chief marketing officer at Green Dot Corporation, the parent company of GoBank. “We couldn’t be more excited to help contestants spend wisely and create a winning look to build their career.”