do now place the business risks on the board as either a low risk or high risk for a film studio
TRANSCRIPT
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Do Now
Place the business risks on theboard as either a low risk or highrisk for a film studio.
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Film Finance
• Aims: to gain an understanding of how Hollywood studio and independent film gets made.
• To research the production process of a film.
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Film Production• The average cost for a Hollywood blockbuster, including its
marketing is……..
• $100million!!!
• So studios are not inclined to take risks!
• Any studio project made by untried talent or without a big name actor on whom to focus an advertising campaign will face an up hill struggle to be ’green-lighted’.
• Can you think of any popular, high grossing films without any star names?
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Getting a film made:‘The Package’
• Starter task: turn to your booklets and do the film finance gap fill with your partner.
• The film package is put together by the producer. • It is presented to potential investors, financers and distributors. • It must include the following key elements and selling points:
– Script Treatment– Generic Characteristics.– A Proposed Budget.– Storyboard of Key Scenes.– Established director / writer with proven track record to attract target
audience and reassure investors.
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The PitchTerm used for the presentation of thepackage by the producer to potentialfinancial backers.
The producer may say their film is a hybrid of two successful movies.
“It’s Terminator meets Dirty Harry.” - Hollywood Producer http://www.youtube.com/watch?v=y9LSYV0b6bI
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‘High – Concept Films’
• Made famous by Don Simpson and Jerry Bruckheimer as a response to high risk film production.
• These films repackaged previously successful elements, such as big name stars and directors.
• They also remade past hits or ‘extended franchises’ (sequels).
• Often they are ‘high octane’ action/disaster movies.
• Made for a PG or 12 rating so appealing to a mass audience- the lowest common denominator’.
• These are high cost films made to maximise profits- low risk, big profits!
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The summer blockbuster
• For many years Hollywood has made mass market films for the summer.
• Many of these films will be released with merchandise tie ins and big marketing budgets.
• The first merchandise led summer blockbuster was Steven Spielberg’s ‘Jaws’ (1975).
• http://www.hollywood.com/feature/Top_10_Summer_Blockbusters_of_All_Time/5240001
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Commitment to Invest
Investors will only commit to a package when they have a clear presentation of the target audience for the film. This is done through extensive market research. Which includes?
If a return on the investment is possible then the project will be give the ‘green light’, meaning that the studio will fund the next stage, which would consist of the writing / finishing off of the screenplay.
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The role of the Producer?• Discuss: What do producers do?
• Producers are the ones who do the groundwork to get a film made. After reading a script they like they will often be the ones who will pitch the film to a studio or other financers
• Producers can also be responsible for the organisational aspects of the production itself, including being in charge of the budget.
• They will then pass the job of directing the film to someone with more artistic, creative abilities!
• Some producers are also directors such as Clint Eastwood.
• If they are an executive producer they are more or less a ‘silent partner’ who has invested in the film but will not interfere with the production.
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The Film Budget
• What do producers have to consider when working out the costing of a film?
• Paying the cast• Paying the crew• Post production- editing etc.• Filming equipment• Travel/shipping and catering• Mise-en-scene (set building, hiring props, vehicles etc)• Film taxes.• Hiring/compensating.
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Why do some stars get Involved in a Film’s Production?
• Gives them greater control over their career. • Sometimes it is they who get the script first and get to
choose who will direct the film.
• Example: Tom Cruise
• As well as being a huge ‘bankable’ star, Cruise is also a producer with the influence to get film made.
• He co-produced ‘Mission Impossible 2’ and Minority Report
• Cruise chose John Woo as Mi2’s director and JJ Abram for Mi3.
• Stars are now a franchise or a brand rather than actors.
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Bankability• A Select group of stars who can guarantee a film’s
international success on the strength of their name alone.
• Bankability is the ability of a star’s name to: raise money for a film
- attract support from major studios- pull in cinemas-goers at the box office
- Task: brainstorm a list of the world’s most ‘bankable’ actors.
- How many are women? - How many are black/Asian?- Select two and list 3 of their films? Were they
all successful?
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‘Indie Films’• With the advancement of new digital technologies it is easier to make
films on a much smaller budget.
• Example: ‘Monsters’ (2010) by UK director Gareth Edwards.
• http://www.youtube.com/watch?v=V_-gL3U1T5Y
• ‘Monsters’ was made for $800k and shot entirely on location with mostly non actors (except for the two lead characters who are relative unknowns).
• Despite being shot in the US with a US cast the film is a UK film, making more money in the UK and Europe than the US.
• In comparison ‘I am Legend’ cost $150 million to make!
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Funding for Independent Films
• Independent film production is developed and realised outside major studio settings.
• Sources of finance:- Banks
- Investment Companies
- Rich Private Investors
- The Government:
the national lottery.
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Currently Fashionable Genres
• What are the currently fashionable genres in Hollywood production:
• ‘Torture horror’ – the ‘Saw’ films.• Comic book heroes- ‘Iron Man’, ‘X- Men’ etc• Broad parody comedies- ‘Epic Movie’, ‘Teen Movie’.• Fantasy – ‘Narnia’ and ‘Ring’ films, ‘Pirates’ etc• Animation- too many to mention!
• Discuss: Why are these genres popular at the moment?
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The ‘Crossover’ film• The ‘crossover’ film is a relatively low budget independent film
without big name actors that does well commercially (makes lots of money).
• Generally these films begin in fewer cinemas but as word of mouth spreads (and it wins awards) the film becomes a surprise ‘sleeper hit’.
• Read: page 99 ‘Titanic’ vs ‘The Full Monty’.
• The crossover film is a dream come true to Hollywood or any film industry. Why?
• Because it makes the biggest profit margin!
• Task: read the article about ‘The King’s Speech’ in the booklet.