So you want to earn money as an independent film producer. Do you even know what must be done to get a film completed? There is an old proverb in Hollywood, that it takes “an extreme level of talent to make even a bad movie”. Knowing that, making a movie is a daunting task and each and every day, movies are being made and sold to many different audiences.
Simply because you have a story or even a screenplay and the talent to create a movie doesn’t necessarily mean you could make money using the film. Today there exists a plethora of movies being made: and among those being made, merely a small portion of the films actually make any cash for their independent producers.
Sure if one makes a motion picture for $10,000 and acquire an arrangement that is worth millions such as “Paranormal Activity” you certainly will make money. But “Paranormal Activity” will be the exception not the rule. Plus the advertising budget for that film is at the tens of millions of dollars. Using that form of promotional dollars the movie was bound to have the filmmakers money.
Exactly what can you are doing to make sure your film is actually a success? And may you do it without spending your inheritance? Well yes and no. Audiences are fickle. Create a movie you believe is excellent still may flop because nobody watches it.
Maintain your eye on the goal: to make money as an independent producer. If you have never made a film before and are out to set the planet on fire, best of luck. It probably will not happen. And in case your ultimate goal is to create a living as an independent producer you must stick to a few basic rules towards that goal.
First of all possess a great story and once you convert it into a script have someone give you advice onto it. The tale will need to have a beginning, middle plus an end. Sounds simple and easy , simple, but it isn’t always the case. Very first time filmmakers (and people who aren’t first timers) are usually shooting too much and editing very long and lose the impact of the good story by putting in a lot of material
Second keep your budget low and make use of actors that learn how to act. This usually means getting actors that have credentials and have experienced films before. If you can’t afford to use SAG actors then ask local community theaters for actors and beg them to be in bloomberg for the experience.
Third, rehearse and rehearse again. This relates to keeping your finances low and being able to put money where it counts. Rehearsing is one area that can keep the amount of takes as low as possible. An excellent rule of thumb to remember is that indie movies needs to have E & O insurance coverage not under $1,000,000 for every claim and $3,000,000 aggregate for all claims using a policy deductible no more than $10,000. An excellent E & O insurance representative can explain the complete process based on your movie’s unique elements.
You can find those times a producer realizes the first movie budget failed to incorporate a line item expense for E & O insurance or that they had no idea that it might be a needed to have their movie sold and distributed. Whenever they key to the table to sign a distribution agreement there is absolutely no money to fund E & O insurance policy.
It’s not the conclusion around the world if you discover yourself short on money to have E & O insurance. When a distributor is really hot for a movie they could front the price by way of a carrier they handle on a regular basis. The indie film producer will not need to get out of pocket upfront for the cost. Nevertheless the distribution company will recoup the money spent from any sales, commonly referred to as a “charge back” for the indie film producer.
Be realistic that it’s probably the distribution company will never get phqwao indie film producer a great rate on E & O insurance. Think of it like buying something on credit you can’t afford and paying a higher monthly interest later on. But when an indie film producer’s pockets are light money there is certainly not another choice unless you pass on the deal. Easy credit will cost indie film producers even more of their future movie profits down the road.
An indie film producer is better off when they look around for E & O insurance, get a firm quote, and include that real cost in to the overall movie budget before shooting one frame. Making indie movies requires a squeeze a nickel until it bleeds approach. Save each of the money it is possible to where one can in production!
Fourth, start trying to find a distributor or sales agent before you start to film. For those who have not talked using a distributor before you start your film do this now. Lastly, keep a good paper trail. Many films are never distributed because the producer had hand shake handles everyone. That could work in school, but in real life it doesn’t work.