The following are very cryptic notes taken during the Finding Funding Panel @ SXSW 2005.
Finding Funding Panel @ SWSX 2005
You might want to print this for later reference. This was an excellent panel. I hope to see you there next year. I apologize for my notes. They are very cryptic. I’ve tried to smooth them out. Take what you can from this and leave the rest. Allison Bourke, IFC, summed it up best: “ Take what advice you want and leave the rest. We are all right and we are all wrong.”
Brian Newman, National Video Resources
Steven Beer, Entertainment Attorney
Jason Blum, Blumhouse
Susan Leber, Producer, the Roost
Jeff Dowd, Producer’s Rep
Allison Bourke, IFC
Leber: In US focus is who’s in the cast, not who’s the director, etc. Good cast means getting someone to look at your project. To get the cast you want, you need to pay to get a casting director/agent. Have the package all together makes it easier.
Actors are looking for good scripts.
Beer: reads scripts. Query first. IMDb - do homework, find a good fit.
Where to go from here - It violates securities law for you to go out and collect investments from people. Family members have sued. Protect reputation/get an attorney who knows film finance. Include “risk warnings.” Get appropriate investment documentation. 1) start an LLC to have the right to get money from assignment. 2) certificate of authorship. 3) assign #2 to #1.
Blum: Starting out - exploit every contact you have for funds.
Leber: 6 degrees of separation. Have to be able to go out and talk to people. “Snowball” concept.
Bourke: Has the funds. She’s executive producer-IFC. She makes sure the money is a good investment. She must recoup. She looks at the package, your presentation of self: are you articulate, confident that you will pull off and deliver a good product.
Dowd: Advice: Read Blink and Tipping Point. Two scenes shot to show. (Means shoot two scenes to show your ability maybe?) Need to know how to put together the proper team. Credibility. Lot of executive producers who have a good track record will be interested if you’ve got a good script. Finance: It’s a co-venture world. If you can bring some of the equity, that can be matched. Dozens of equity financing that might come in if distributors come in on the project.
Blum: Financed with rich people and HBO. ICON in foreign sales.
Leber: Low millions financing. Equity finance - raise enough to get it in the can and keep raising money. She doesn’t have time to read scripts.
Bourke: IFC has 4 divisions of finance. 1) original content. 2) acquisitions - could start just with a script. 3) Indigent in the rage of 400,000. 4) IFC Productions (Rose). IFC often partners with foreign companies. They can customize the film and material to make the money back.
Raising Funds for Docs
Beer - quite a few docs.
Strategy: 1) who’s the target (cause? Organization?). 2) Tax incentive program. 3) US passed bill that allows for accelerated depreciation which is an advantage for the private investors and allows for immediate deduction.
Markets - I.F.P. Hot Docs.
Doc Market
Bourke: We don’t do markets except in early stage of development.
Leber: Skeptical of reaching people.
Bourke: Never underestimate the power of getting to a Junior VP, Jr, Producer, Jr. CE. They have time to give and nurture your project and champion it to their boss.
Beer: Bd. Of Dir. Of IFP: IFP - Good petrie dish. Place to meet, network. Having a film at IFP gives you something to talk about and adds something substantive.
Blum: Mkt experience: Festivals - Art. AFM in LA is about commerce. Won’t help you as a 1st time producer, but will help you see the movie biz from another angle.
Newman: Grants: Most grants from foundations with a social issue. We give grants for creativity. ‘Hustle and Flo’ and ‘Cock Robbin’ made Sundance. We have nominators, know whom to look at and go to festivals.
Funding - check “Filmmaker Magazine” for articles.
Dowd: Investors want something that speaks to them. Same with an audience. Decisions are made based on value.
Beer: Completion Bond Companies. Financier will dictate the company they’re comfortable with. Low-budget films don’t deal with completion bonds often. Institution financers will want a completion bond.
Newman: Really know your film. Paint a picture of your film.
Dowd: About story telling. Sell emotions: What’s the emotion ride? Titles are very important: “Two Family House” is a terrible title, has no connection with emotional ride.
Beer: Will we get value for this film. Surround yourself with people who have a good track record.
Bourke: Take what advice you want and leave the rest. We are all right and we are all wrong.
Beer: 3 points: 1) Script - gotta be great. Get this first. 2) Director. 3) cast. Relationships are assets. Develop and harness them and let them work for you. Films can empower people and change history in a positive way - even if it makes someone laugh. Use that power that we have. The money will come if you do something where the bar is “Make a great movie.” Find a project you’re passionate about and that the people you bring to the team are willing to be with you on for the long term. Tell everyone about your passion for your film.
