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Film Financing

Film Financing. J412/512 Oct. 10, 2013. The State of the Film Industry. What did you find?. Financing: Studio Films. Generally financed by studio, or partnership between studios Other: co-productions, tax incentives, cross-promotion, product placement, etc. Titanic =

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Film Financing

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  1. Film Financing J412/512 Oct. 10, 2013

  2. The State of the Film Industry What did you find?

  3. Financing: Studio Films • Generally financed by studio, or partnership between studios • Other: co-productions, tax incentives, cross-promotion, product placement, etc.

  4. Titanic = • Paramount ($65m) = North American box office; home video • 20th Century Fox ($135m) = international distribution

  5. Financing: The Hobbit http://visual.ly/hobbit-film-making-facts

  6. Tax IncentivesExample: New Zealand • Large Budget Screen Production Grant; Post, Digital and Visual Effects Grant • 15% rebate on production expenditures (if over NZ$15 million) • Screen Production Incentive Fund • To encourage significant NZ content; Grant of 40% of production expenditures • Official / Unofficial Co-Production Agreements

  7. NZ$67 million (US$58 million) in tax breaks to Warner Bros. • Employment laws changed to accommodate production • $1.5 billion potential lost revenue if not filmed in NZ Prime Minister John Key

  8. 3,000 people employed during filming $100 million spent by studio marketing films

  9. Another potential benefit:TOURISM! http://tvnz.co.nz/hobbit-news/air-nz-reveals-plane-video-5235188 http://www.youtube.com/watch?v=NHLdJCT_jCY

  10. Reading Quiz #2 • What is unique about the Kickstarter campaign for Veronica Mars? • In your opinion, what is the role of Kickstarter? Who should use this tool?

  11. Financing: Independent Films • Negative pickups • Completion guarantees • Private investors • Bank loans • Pre-sales to distribution outlets • TV networks, pay cable, home video, int’l • Grants • Family • Deferrals • Etc.

  12. Kickstarter / Indiegogo Behind the scenes = http://www.youtube.com/watch?v=0uiFIhxXeKI

  13. Changing Dynamics in Independent Film Financing Out with the Old In with the New “Crowd funding” Corporate partnerships Product placement • Fewer “Indiewood” studios • Fewer hedge funds / private investors • Dried up arts funding

  14. Feature Film Research Paper

  15. Research Resources • Internet Movie Database • Box Office Mojo • The Numbers • The New York Times • The Los Angeles Times • Hollywood Reporter • Variety • Real, live books in the library

  16. When was your film produced? • You MUST consult sources that were written around the time that your film was produced. • Example: Writing about Gone with the Wind? Consult articles written in newspapers from 1938-39.

  17. Annotated Sources • You must annotate all of the sources you use in your paper. • What does this mean? • In 1 sentence, provide a synopsis of the source’s content. • In 1 sentence, provide your reasoning for using this source – why is it relevant? Why is it important? Why is it the best source for providing this information?

  18. Task: Internet Movie Database • Get familiar with the IMDb profile for your film. • What company or companies produced your film?

  19. Film Production

  20. Pre-Production • Casting, lining up crew • Shooting script and shooting schedule finalized • Read-throughs of script • Equipment lined up • Production design (sets, costumes, etc.) • Cross-promotions, product placement, etc. • Location scouting  Above-the-line & below-the-line

  21. Location Scouting • “Oregon’s incredibly varied locations are not only in close proximity to each other, but also within a two hour flight of Los Angeles. People living in LA can be on a plane in the morning, work a full day in Oregon and be back at home the same night.”

  22. Production • Principal photography • Second unit shooting A typical studio feature film produced in LA spends an average of $200,000 per day.

  23. Post-Production • Editing • Special effects • Sound editing • Color correction • Music • Etc.

  24. Test Screenings • ”Did you like it?” • “What didn’t you like about it?” • “Would you recommend it to people?” • “If not, why not?”

  25. Case Study: Sahara (2005)

  26. An Average Hollywood Budget Average Cost (in millions) Initial Budget: $80 million

  27. Budget for Sahara Source: LA Times

  28. Cost Breakdowns Camels: $81,375 Riders, grooms: $79,748 Horses: $71,610 Stabling, transport: $53,989 Horse, camel master: $51,638 Veterinarian: $9,184 Payment to stop a river improvement project: $40,688 “Political/Mayoral support”: $23,250

  29. Sources of Revenue • Theatrical release • Video/DVD release • International release • Cable/Television release • Other windows • Product Placement • Tie-ins & Cross-Promotions • Merchandise For Sahara: Loss (as of 2007) = $78.3 million

  30. Independent Filmmaking

  31. Pre-Production & Production • Challenges: • How much financing is in place? • How much time can cast and crew commit to production? • Production eased: • Digital technologies (e.g., high-end digital cameras like the Red One camera)

  32. Post-Production • Challenges: • Has filmmaker adhered to budget? • Was budget realistic to complete movie? • Was movie financed for production only, or was post-production included? • Post-production eased: • Again, digital tools: Avid, Final Cut Pro, Pro Tools

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