Compiled by: FilmBudget.com – the global leader in worldwide film budget and schedule production services for the motion picture industry.
As the year draws to a close Filmbudget.com Founder/Producer Jack Binder takes a look back at what lessons can be learned from 2013 for 2014 in the feature film and television production industry. Further, we’ll discuss how they effect a movie budget at any level of production.
1. Accuracy Matters in a Film Budget
As the markets have demanded and proven, there is increased scrutiny on the film budget level and additionally individual expenditures within movie budgets. Small errors in the budget stage could yield exponentially larger impacts on a film’s overall finance scenario.
2. Quality Film Budget Expert
A quality film budget expert is critical to obtain an accurate, proven and reliable movie budget. The line producer and the unit production manager are the crew members tasked with and dedicated to the creation and execution of the production movie budget since the inception of the film industry.
A major decision all filmmakers must make is with whom to work with in creating the film’s budget. Whether the project is a major studio or indie film production, an accurate budget is key. Film financiers will certainly judge you based upon the movie budget you submit to them. Unproven inaccurate film budgets will certainly make an impact, and not in a positive way.
4. Your Line Producer Creating Your Film Must Have Extensive Knowledge of Film Tax Credits
As a movie budget expert the line producer is constantly updating skills and must have a working knowledge on a worldwide scale. Extensive knowledge of film tax credits, production incentives both North American and internationally is critical to bring to the film budget process.
5. Co-productions Are A Critical Element of Finance
Your line producer creating your custom, proven and accurate film budget (like Filmbudget.com Founder Producer Jack Binder) should likewise have a strong understanding of international co-productions, grants, country and regional film funds and worldwide motion picture financing.
The bottom line is that film finance, though improving, will remain frugal and risk adverse. Obtaining a professional film budget by a line producer is a fundamental task consistently undertaken by film industry professionals.