The Top 4 Critical Elements For Film Finance
Times are changing as always in the world of film finance. Today it is just as difficult as ever, if not more so, to obtain financing for your film.
Filmmakers must be aware of the challenges and be armed with current information in order to attract funding for their movie production goals. So here are the top four critical elements required based upon realtime, real world analysis by FilmBudget.com Founder Producer Jack Binder (Reign Over Me, The Upside of Anger, The Mind of the Married Man)
An Amazing Screenplay
An amazing screenplay is fundamental to getting finance for your film. Likewise it is necessary to attracting the remaining three critical elements.
Notice I did not say “good”, or “great”. This might have sufficed in the past however in today’s market and competition for limited film finance resources your screenplay must be amazing!
Once you have established a good or great screenplay is in hand, you must run it by your most observant colleagues, friends and family to obtain honest criticism to enable you to improve the script to its utmost potential. Writing is rewriting and before you do anything else – make it Amazing!
An Outstanding Team
Investors not only look to an amazing screenplay in which to invest but they are also looking for an outstanding team. Surround yourself with established and successful filmmakers whom augment your credentials.
This includes an experienced director and producer. An experienced director is recognized as showing a track record in delivering on the writer’s vision. They are deemed competent to bring your story to the screen based upon past success.
Likewise an experienced producer is extremely important in building confidence in your film. Investors look to the producer as the manager of the production and someone who has the knowledge and understanding of the filmmaking and movie industry process.
Together these two collaborators bring a sense of comfort and reliability to your production. Again investors invest as much in a team as they do the idea, story and screenplay.
Strong Cast Attachments
Now more than ever independent film production is driven by cast. With the above elements in place the likelihood of securing top talent is formidably increased.
Finance, international (foreign) sales and distribution are fundamentally driven by the cast committed to your movie. Of course, these must be real and verifiable involvements and not wishful thinking.
An Accurate and Realistic Film Budget
The fourth and perhaps most important aspect of securing film financing for your motion picture is a realistic and accurate film budget. Knowing and demonstrating your knowledge and comprehension of the costs of bringing the production to market is a basic factor in a financiers decision to fund.
Your film budget, created by an industry professional line producer or unit production manager, will speak volumes to your investors as to your appreciation of the complexities of finding the right balance in the expense of creating the product. Your budget represents a roadmap to the production for yourself and the investor.
As the industry consolidates upon viable productions, your movie budget determines your awareness of the current market value of your production. Finding the right balance of high production value for the lowest cost is the direct purview of the knowledgeable and experienced line producer engaged in budgeting your film.
Combining the above four critical elements of obtaining film finance will put your movie and your production goals at the head of the line in attracting investment. Money has become much smarter over the recent years and is increasingly risk adverse.
By arming yourself with these fundamental elements you are putting you and your team in a much better position to achieve success than only having one or a few of these in order.
Contact FilmBudget.com to discuss your production, budget, development, production and finance requirements. Our services include budgeting, scheduling, consulting, film finance business plans, film tax credits analysis, creative producer and line producing services.