Film Finance

 

Sell YOU First!

By George Kevin Jordan

I hate statistics. They are the numerical equivalent to a drive by shooting – frightening, hard to take, and even harder to survive.

If you are a woman, a minority, gay, or even poor, chances are you have felt the merciless slash of a statistic in your life. If you are an artist, or God-forbid, a film producer trying to raise capital for your work, there is no doubt you have had to stare down a few statistics in your life.

You just want to make your documentary about roller skating gorillas in South America, and suddenly some angel investor is throwing stats at you, like some financial ninja.

“It will never work,” he or she says to you at your investor’s meeting. “According to ‘blah, blah, blah’ only 20 gorilla films have ever been successful in movie theaters.”

Your question is how do you even have that tidbit of information in the upper part of your cranium. Your second thought is that all the effort it took to find a good business suit for under $100 at H&M are wasted, as your dreams go spiraling down the conceptual drain.

I spent 11 months of graduate school, inserting statistical information in my business plan and papers. I have spent about 15 years injecting statistics in articles and essays.

Just today, I have come to the conclusion that it’s all bullshit. Don’t get me wrong. I have use for statistics to develop a case for something. But just as I can use information to build something up, some a-hole can use a different statistic (sometimes from the same source) to diffuse your theory.

When put in the context of movies and finances, there is often one bit of information that is valuable, but yet there is no statistical data to prove it. When seeking money – most people are investing in you not the product.

Yeah, yeah they may pull out the latest box office figures from a movie in your genre. But truth be told; it’s about you! This information should be very liberating in your quest to get money.  For one, you are not dragged down into the muck and mire of the mass of failed projects behind you. Also, thankfully you don’t have to be compared to James Cameron either. People want to like you. And if they like you they are willing to fund your project.

To prove my point, let’s take a rather depressing statistic and see how it fits into your plans as a producer.

According Indiwwire.com, only one specialty film  (Crazy Heart from Fox Searchlight) made over $10 million in the first quarter.  And only six specialty films made more than $5 million.

Imagine being in a meeting trying to sell your indie film, and some executive throws this out – fear not. Having recently been hired to find funding for a production company, and having given more presentations than my little Mac can store (remind me to discuss external drives and rehashing old ideas someday), I can give you a primer into what most investors are thinking.

1. Will this guy/girl take my hard earned millions and squander it? How do you squash this thought? Be professional. Come on time. Have proper documents and materials ready – i.e. Business plan, proposal, or a clip of your work.

2. What’s in it for me? The film business is a risk, and I hate to contradict myself but statistically speaking most people will never get their money back. Fine then why do it? It’s up to you to find the investor’s buy in. If it’s fame, it doesn’t cost much to make a person feel like a celebrity. Do they want to be in the business? You need to negotiate a way for this person to feel apart of the process without hindering you from making the film you want to make.

3. Finally and most importantly – do I like this person? People have gotten jobs for less. When you want to put money on the line for someone you want to feel a rapport with that person. You don’t have to be friends but you better be friendly enough. If that means going out for drinks, impressing the hubby or wife, or showing up to dinner parties – do it. Whatever it takes.

A few years ago, I met some investors for a media project. Before our meeting, myself, and every other department head in the company were grilled about our jobs and the overall organization. When we met in person a month later, it was way more casual, and all about how we interacted together. I was convinced those investors wanted to know deep down if they liked us. Not like BFF friends, but business friends. Does this person have integrity, can they be trusted, and can I work with them? Some investors just give money, but many will be involved throughout the process, and it’s that relationship you have to nurture. It is that relationship that will determine whether you receive a check, or get unanswered emails.

Now, I didn’t just spend fourty-five grand on an MBA education, just to refute everything I was taught. In some instance statistics can serve you. But in the end, selling yourself is a much easier and more successful way to get money. If you don’t believe me just hold on, I am sure someone will create a statistic using this very article.

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Channeling Your Inner Whitley

The beauty of getting older is that the more numbers you rack up, the more stories you get to tell. When tasked with writing an article about film financing I was immediately struck with a story – which must mean I am getting old.

In fact it is not so much a story as it is a memory of one of my favorite TV shows of all time – “A Different World.” For those not pushing 40 or into 80s nostalgia, I will nutshell the plot – black kids try to graduate at an HBCU (Historically Black College/University). You may think this isn’t enough of a plot to be funny, but trust me if you were an HBCU student or even a black kid trying to complete your degree, you would find the common hilarity of the show.

This may be the time where you are scrolling to the bottom of the site going “what does this have to do with financing?” This is again the beauty of being old. Stay with me I am telling a story.

Anyway one of the main characters was a snotty, bourgeois, pretty girl named Whitley Gilbert, played by the lovely Jasmine Guy. This character’s journey was not only to graduate and find love but also to take that two-by-four out from under her cotillion dress. Whenever Whitley got upset, which was about every episode, she would repeat this mantra with her horrific southern drawl – “Relax, Relate, Release” This sounded more like Ruh-lax, Rhuh-late, Rah-Lease.” The saying was funny and stuck with me for more than 20 years.

When tackling the humongous job of finding funding for your film, the stress can feel overwhelming. This is when you need to channel your inner-Whitley. But I have revised the mantra to “relax, research, and read.”

Over the course of the year I hope to bring you lots of useful and practical information about getting money for your film. But before we can even go there, you need to chant this mantra to yourself every day.

RELAX

Calm the hell down! Yes you have dreams of being the next Spike, Julie Dash or Lee Daniels, but remember they all had to start from somewhere. You will get there if you are armored with knowledge, patience and talent. Right now, however, you are in the early stages, so there is no need to worry yourself to stroke.

RESEARCH

Currently I am an MBA student at MCNY (Metropolitan College of New York) learning about media management and the business of the industry. After years of struggling as a writer I realized if I wanted to create the types of content I wanted, I had to know the industry inside and out. However, another thing I realized a month into my first semester, was that what I thought I knew about the business side of writing was very little. Sure I knew how to write and sell my work, but an in-depth understanding of how “the business” worked would have saved me time and trouble and probably increased the balance in my bank account. If you are serious about being in the film business, making films and especially financing them, you have to do your research. This leads us to our third part of the mantra.

READ

Ask wanna-be filmmakers who they would like to be when they grow up, and they will rattle off names like Felini, Hitchcock, and Lee (I love Spike Lee). These are great people to aspire to be like. However when you ask these same people what is their favorite book about filmmaking – crickets.

If you want to find out how to finance films you have to follow the money. You should have subscriptions to, or at least reading, these publications:

The Hollywood Reporter

Variety

The Wall Street Journal

As far as books go, there are several but let me first suggest one of my favorites, “This Business of Film” by Stephen R. Greenwald and Paula Landry. I was lucky enough to have Ms. Landry in one of my film classes, which is where I was introduced to the book, and let me tell you the book is pretty comprehensive on the whole business of film, and particularly the types of financing that are available to mainstream and independent producers.

Also check out “Chris Gore’s Ultimate Film Festival Survival Guide 4th Edition”. If you don’t understand the correlation between film festivals and getting your film financed or picked up, you need to grab this book.

As we continue in our journey, I hope to bring you industry insiders who can provide you more in-depth analysis of film financing. We will get there. For now, though, you need to “relax, research, and read.”

-George Kevin Jordan

George Kevin Jordan is a freelance writer, author, and CEO of Pipe and Paper Productions, an independent TV and film production Co.

Contact him at gkjwriter@gmail.com

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