Cost cutting in the film world has always been a buzz word. However, in today’s credit strapped economy reducing the level of a film budget has become a necessity more than ever.
From large scale, tent-pole, enormous film budget productions to mid-level movie productions and of course the lower tier film budget range, the pressure from lenders, studios, production companies, investors and sales executives has increased dramatically. Salaries have continued their downward plunge at all levels.
In addition to the financial downturn, the credit crunch and the lack of capital for movie production, the states have compounded the problem by pulling the rug out from under their growing local film industries that were beginning to gain self-sustaining momentum with the aid of film tax incentives programs which got the ball rolling. Rather than stick with these job creating, and industry generating film tax credits, they have systematically pulled the plug on them, thereby exacerbating the film finance situation. Fortunately, foreign governments realize the importance of supporting the entertainment (ie. culture) sector and they continue to expand their support mechanisms.
Therefore, filmmakers must do much more with much less, now more than ever before. It is critical to have an extremely tight film budget and shooting schedule, however one with great production value built into it. The critical eye of a seasoned line producer is required to make the tough decisions on where to cut the budget and where to enhance it. Which departments can get by with less and which demand being saved from the axe? A knowledgable line producer deals with these questions daily and reducing the budget is not new to them.
One such expert in the field of film budgeting is Filmbudget.com – founded by veteran major Hollywood studio and indie film producer Jack Binder (‘Reign Over Me’, ‘The Upside of Anger’, etc.) Here is a video trailer of Jack’s producer credits: