As I\u2019m unwinding from AFM last week, it occurs to me that while many of you are experiencing Distribution Overwhelm, even more of you are experiencing Finance Overwhelm. Why? Because unless you have 100% cash in bank to make your film, what can you do to get your project off the ground?<\/p>\n
The way I see it is we\u2019ve entered a time where \u2018cobbling together\u2019 different forms of film financing is necessary to make the whole. Sure, private equity (or cash) still plays a role in this new model, but there\u2019s also other methods that need to be explored and implemented to finance your film<\/span><\/p>\n Case in point \u2013 many filmmakers today are using private equity or cash for development funds, tax incentives and pre-sales for production funds, and crowd funding for finishing funds. Is that too many financing components? Let me put it to you this way\u2026.<\/span><\/p><\/blockquote>\n <\/p>\n \u2022 <\/strong>Tax incentives<\/strong> \u2013 you\u2019ve probably heard this before but if you\u2019re not investigating locations to shoot your film that offer tax rebates and credits, you\u2019re simply being irresponsible. Research both U.S and international states, countries, and provinces which offer attractive tax incentives for you to shoot your film there. Use the individual Film Commission offices as your starting point and they\u2019ll walk you though the process and procedure, which in my experience are shockingly simple. Get budgets drawn up for shooting in different locations so you can compare where you\u2019re able to make your film in the most economic way possible.<\/span><\/p>\n \u2022 <\/strong>Partnering With Production Companies<\/strong> \u2013 This may not seem like an obvious choice at first but let\u2019s just say this \u2013 if you don\u2019t have a track record yourself, if you\u2019re a first or second time producer, writer, or director and you want to fast track your production, you should consider partnering with a more experienced Producer or Production Company and leverage their<\/em><\/strong> track record to get your project made. There are so many other benefits to this approach too \u2013 not least is the fact that if you manage to attract a bigger producer with a track record to your project to partner with you, you can ride their coat tails for this project, get introduced to their whole network of \u2018relationships\u2019, and be in a prime position for your next project to go it alone, using all the contacts you made. I\u2019ve seen this happen many times, and it seems sometimes what holds people back in this scenario is their pride. Wouldn\u2019t you rather swallow your pride and get your film made?<\/span><\/p>\n \u2022 <\/strong>Pre-Sales<\/strong> \u2013 Here\u2019s the facts: Pre-Sales are not dead. I don\u2019t care what anyone says, Pre-Sales are alive and kicking for the right projects.<\/em><\/strong> And that\u2019s the key here \u2013 the right projects<\/em><\/strong>. What does that mean? That means for projects with a killer concept, an experienced director attached, and great cast, pre-sales are in fact a reality. Now I know this might seem like a long shot for some of you but hear me out<\/strong>\u2026.If you are a first time director, focus on a killer concept and cast. If you are a first time producer, focus on attaching a \u2018name\u2019 director. You can in fact build a package that attracts pre-sales, it takes time, and often money (development funds) to pull things together but it\u2019s possible.<\/span><\/p>\n \u2022 <\/strong>Crowd Funding<\/strong> \u2013 Crowd Funding has actually been around for a while but only recently popularized by sites like Kickstarter & Indie Go Go. However, as many of you know, Robert Greenwald has been crowd funding his movies for years. His moves, being cause-related in nature, actually quite nicely lend themselves to being crowd funded (by people who are passionate about his causes<\/em>). But what about if you have a narrative feature (as opposed to a cause-related doc)? The truth is, Crowd Funding can work for you too but the success of your campaign will be predicated on your ability to build an audience for your film while you\u2019re still in the financing stage. No easy task but by leveraging the internet and social media, ti\u2019s entirely possible provided you have a subject in your film, or are covering a topic or theme that people are actually interested in. Have you researched the concept of your film yet to determine if in fact there\u2019s a potential audience for it that will be interested in seeing it? That\u2019s the key to crowd funding right there.<\/span><\/p>\nIgnore a diversified approach to film financing at your peril!<\/strong><\/span><\/h3>\n
\nSo how and where do you begin on this journey then to cobble together financing for your film? Let\u2019s forget the private equity or cash component for a moment b\/c that\u2019s usually the hardest piece of the puzzle, and let\u2019s focus on financing components we actually have more control over in order to create some initial momentum with your project:<\/span><\/p>\nThese 4 components are what I see as the basic building blocks of a Film Financing plan in today\u2019s market. And by building blocks I mean you should be using a combination of a few if not all of these to get the job done!<\/span><\/h3>\n