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EVRRTING > Film Funding - New Cards > Flashcards

Film Funding - New Cards Flashcards

1
Q

Who assembles a package?

A

the producer

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2
Q

Give 4 examples of units in a package.

A

director, script, actor, piece of intellectual property

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3
Q

What is the ultimate goal of the package unit system?

A

to obtain funding to actually make the movie

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4
Q

What one thing does the package need to make clear?

A

why the movie is a good investment for financiers

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5
Q

What does it mean when a producer gets the options for the rights of a script?

A

they have the exclusive ability to purchase the script within a few years

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6
Q

If an optioned script isn’t produced by the end of the contract, what happens?

A

the project is released back to the writer or the option is renewed

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7
Q

Why do producers option the rights of scripts?

A

optioning costs much less money than buying it outright

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8
Q

What are 5 ways a spec script can get noticed for a package by a producer?

A

agent, manager, film festival, fellowship, blacklist

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9
Q

Is the spec script packaging process common?

A

No. It’s actually rare.

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10
Q

What is the actual purpose of spec scripts most of the time?

A

to help producers and executives get ideas and scout talent for other projects

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11
Q

What is intellectual property (IP)?

A

a creative work like a book or an article which you can legally protect with copyrights

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12
Q

What must a producer do if they want to make content out of IP?

A

obtain the rights and seek out the necessary creatives to turn the pre-existing IP into a movie

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13
Q

What does it mean to have exclusive rights to an IP?

A

no one else can own the rights to the property

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14
Q

What does it mean to have non-exclusive rights to an IP?

A

you aren’t the only ones that own the rights to the property

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15
Q

Which type of rights cost more to obtain for IP: exclusive or non-exclusive?

A

exclusive

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16
Q

What are the two ways in which producers can obtain IP for a certain amount of time?

A

getting the rights in perpetuity or optioning the rights

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17
Q

How do you know who owns what rights to a property?

A

chain of title

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18
Q

What is the chain of title?

A

who owns what rights to a property

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19
Q

Why do producers have an easier time finding funding for movies based on IP?

A

because the material has already proven to be popular

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20
Q

How does a producer go about obtaining IP?

A

going to the representative and starting a negotiation

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21
Q

Does the original creative have any say in what is made of the IP?

A

yes, the package must be approved by them

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22
Q

What can a producer do if he needs a completed screenplay in a package?

A

get initial seed money to pay a screenwriter

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23
Q

If a financier finances one part of the package, does that mean that funding will be obtained to complete production?

A

no

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24
Q

When does a writer require additional compensation?

A

after one draft, so after one revision or even polish

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25
Q

Why should a producer provide insightful and effective notes to the screenwriter from the get-go and not after production has started?

A

because you have to pay them after one draft-revision or polish-to the final screenplay

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26
Q

Does a writer strictly just work on spec?

A

No. They can also be used in the marketing and studio process.

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27
Q

A) What is a logline B) who does the producer create it with?

A

A) one sentence which summarizes the general tone and plot of the film that helps a producer sell a project B) writer

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28
Q

What is a proposal?

A

a few pages which include a brief overview of the film that helps a producer sell a project

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29
Q

What are three things that are often part of a proposal?

A

some previous movies it could be compared to, the finances involved, market research

30
Q

Is it likely that your movie will get made if the package isn’t commercial?

A

No. You must find a way to make it commercial.

31
Q

What is a pitch?

A

it’s the same principles as a proposal, except it’s delivered verbally to get the financiers engaged

32
Q

What do producers translate movie ideas to in their minds?

A

a pitch!

33
Q

What does it mean to receive a greenlight on a project?

A

a studio or production company have agreed to make the package into a movie

34
Q

Does a greenlight guarantee a film’s production?

A

Hell no.

35
Q

What does it mean when a greenlit film is put in turnaround?

A

when a studio halts the production of a film, and usually tries to sell it to another studio

36
Q

What is called when a package fails to produce a greenlight and languishes in various iterations for years?

A

development hell

37
Q

How does a package reach development hell? Give two ways.

A

studio owns the rights and doesn’t want to sell them, attachments dropout

38
Q

What happens directly after a greenlight?

A

a script will go through additional changes as budgeting, logistics, and additional crew enter the picture

39
Q

When is the official estimated budget created?

A

once the script is nearing its final iteration

40
Q

How is the official estimated budget worked out? (Hint: broken down into three sections)

A

broken down into production, post-production, and distribution costs

41
Q

What two camps is film funding divided into?

A

studio and independent financing

42
Q

Why do studio films usually secure more funding than independent films?

A

studios typically have more established routes towards financing since their projects usually earn more money

43
Q

What are pre-sales? S

A

when a film is licensed to a third party distributor to distribute a film in a given territory

44
Q

Give an example of pre-sales. S

A

a distribution company in Japan will prepay for the right to distribute the film in Japan

45
Q

How do pre-sales work with streaming? S

A

a production company may choose to pre-sell with streaming platforms, licensing the rights to stream a film in different territories

46
Q

When are pre-sales usually more lucrative? S

A

when big-name attachments are involved

47
Q

What is gap-financing? S

A

A one-time loan for filmmakers that funds the “gap” between any pre-sale funding that you have raised and the “actual” estimated film production budget. The amount given is based off of pre-sale revenue and things like that.

48
Q

What is a negative pickup? S

A

a producer sells their movie to a studio, and the studio gains distribution rights so that the profits are split between the producer and the studio

49
Q

A) Explain how a negative pickup is formed. B) Therefore ____ S

A

A) The producer or production company is responsible for the initial funding of their film, with a contract from the studio that they will buy the project upon completion. B) Therefore, if a film goes over budget in production, the producer has to make up the difference themselves.

50
Q

What is slate financing? How is this typically accomplished? S

A

an investment in a specified number of studio films (a slate), typically by private equity firms and hedge fund

51
Q

Why is slate financing a lower risk investment? S

A

there is usually a high probability one of the films will be a success

52
Q

A) What is the reverse of slate financing? B) What is ____? S

A

A) Co-production. B) Co-production is when multiple studios will finance a film and divvy up its rights.

53
Q

How does slate financing contrast co-production? S

A

instead of multiple films and one studio, co-production is one film and multiple studios

54
Q

A) What is product placement? B) How popular is this method? S

A

A) when a brand will pay to have their product in a movie B) getting vastly more popular right now

55
Q

What is a producer’s number one goal in financing an independent film? I

A

“Look, the goal is always to get one equity financier, which means it’s someone who’s just literally writing you a cash check. That is the goal of indie financing.”

56
Q

Is crowd-funding a popular way to finance an independent film? I

A

Yes. Crowd-funding is a huge part of indie financing.

57
Q

What is a film grant? Who are film grants oftenly given out by? I

A

a fund given by a single person or organization, often a government or nonprofit, that is not intended to be paid back

58
Q

Why do filmmakers enter films into festivals? I

A

at festivals they can network with potential financiers with the extra leverage that their project is already critically celebrated

59
Q

What is the American Film Market? Name 4 of its purposes. I

A

an annual eight-day film industry event that filmmakers attend to network and to sell, finance and acquire films

60
Q

What is a private equity firm? I

A

a company that manages private equity funds, which are pooled investments of large amounts of money

61
Q

What does a private equity firm do? (hint: they only fund proven production companies with track records) I

A

these firms bet their money in the hopes of a big payout on the back end

62
Q

What is a bond company? I

A

a company that guarantees that the film will be completed on time and on budget

63
Q

How do bond companies act as guarantors? I

A

they are a third party that’s purpose is to lower the risks for investors

64
Q

What happens to a film with a completion bond that doesn’t get completed on time/budget? I

A

the bond company can assume the rights to the project

65
Q

What is bridge financing? I

A

When a short term lender provides a bridge loan to secure an attachment with an investor’s promissory note as collateral.

66
Q

Why is bridge financing very expensive? I

A

it’s money that they know you’re desperate for, that you need for a very short amount of time

67
Q

Why is self-financing so risky? I

A

in all likelihood the filmmaker will not make their money back, it’s just nearly impossible

68
Q

What are two ways a filmmaker can self finance their project? I

A

credit cards and bankrolling

69
Q

What is deferred compensation? I

A

to forgo some of your salary to make room for more budget

70
Q

How can tax incentives keep a budget of a film down? S/I

A

many countries and states in the U.S. have tax breaks for film productions

71
Q

What’s the mark of a great producer?

A

constantly finds creative ways to secure the money they need

EVRRTING (4 decks)

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