Top 13 Things You Need To Know About Independent Film
According to Filmmaker Magazine, independent filmmaking is in a bad spot.
What Determines An Independent Film’s Financial Success?
There are two paths for independent films: The Golden Elevator (Fair Play); and the free-range failure films. The films that make the Golden Elevator are often supported from the very early stages by a major agency (with their full support, not just attachment), or a majorly famous star (not just kind of famous), like Ryan Reynolds.
How Much Does The Quality of A Film Matter?
It is not possible to get on the golden elevator by just making a “truly great” film. Essentially, Hollywood is not a meritocracy.
How Do Distributors Benefit An Independent Film?
If you get into a festival, you will be approached by many predatory distributors and distribution sales agents, who promise you the moon and the stars. However, the truth is, there is little to no chance of recouping your money back. This is because new SVOD and AVOD streaming platforms are constantly cannibalizing the market.
How Do I Know My Independent Film Will Make Money?
It is almost impossible to get real numbers on independent filmmaking profits. In addition, any case studies more than 4 years old are not reliable, because of the constant churn of technology and culture, tying the industry to Moore’s Law.
Could I Make a 1 Million Dollar Independent Film?
The budget range of $900,001 to $1.5M is a dead zone. Nothing gets made in this range, and nothing gets sold in this range. This is part of the phenomenon known as “the budget/profit donut hole”. Even worse, films that were made for above $200,000, but below $900,000 did not make their money back at all.
How Much Should I Make My Independent Film For?
If you’re unable to raise the budget for $1.5M, and you truly want to make your film no matter what, then your best bet is to make your film for under $50k (to be clear, that’s making your film under Fifty-Thousand dollars total).
What Genre Should I Make My Independent Film?
Factors that are often held up in conventional industry wisdom as strongly determinative of revenue outcomes, such as genre, actually offered no clear trends. Dramas did not have particularly worse outcomes than genre films like horror or thrillers. So, if you’re going to make a movie, make the one you want to make, not the one that all the experts tell you will be financially successful.
What Actors Should I Cast In My Independent Film?
Having sort-of famous actors, for profitability purposes, seems to often be the worst case scenario. Either an actor with an IMDB Starmeter ranking of 1-100, or no famous actors at all, is the best scenario to making your money back. There is a highly select group of actors at the top of the STARmeter who genuinely move the needle on whether or not an audience member decides to watch/rent/buy a movie.
Should I Self-Distribute My Independent Film?
Your best bet is self-distribution (with or without a third-party aggregation service, IF AND ONLY IF you are able/willing to devote the considerable time, money and energy involved). This may be because the decision to self-distribute often is coupled with the building of a team to design the film’s release, which almost always results in a more specific, resourced and focused marketing effort than a distribution company will likely have time for in the current oversaturated marketplace.
Distributors often take marketing costs and fees off the top of a film’s gross revenue, which has been a known issue with independent films for decades.
How Much Will A Distributor Pay Me For My Independent Film?
A distributor giving a robust Minimum Guarantee (an up front fee for distributing the film) is vanishingly rare.
What Is The Worst Way To Distribute My Independent Film?
The worst distribution method for independent films has been the Hybrid model (a limited theatrical release, followed by a simultaneous VOD and SVOD release).
Why Should I Make My Independent Film?
Money is not the only reason to make an independent film. Many filmmakers will decide to make the trade-off of accepting a financially lesser distribution deal if it means getting trade reviews and pull quotes they can insert in their bios. Others may choose different bottom lines over profit, such as a specific impact outcome for a mission-driven film.
Will Sundance Help Me Sell My Film?
The 2023 Sundance films call into serious question how financially viable even golden elevator films remain
Filmmakers, looking to Collaborate with and Meet experienced professionals, despite Limited Budget – If you’re ready to take the next step in your filmmaking career, let’s connect!
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