Looks like you are a new visitor to this site. Hello!
Welcome to Hope For Film! Come participate in the discussion, and I encourage you to enter your email address in the sidebar and subscribe. It's free! And easy! If you have any suggestions on how to improve this website or suggestions for topics please don't hesitate to write in to any of the blogs.
(If you keep getting this message, you probably have cookies turned off.)
The question came up over one of last weeks posts, why foreign buyers base license fees on budget percentages. I have accepted this for so long, I had stopped questioning it — but it is one of those things worth questioning, so I am glad it was raised. Thanks.
There are many factors in determining what a territorial license fee should be – a percentage of the budget is only one. These are standard amounts that are “typical” for an individual territory based on what distributors have paid historically (Yes, the world has changed quite a bit recently!). I don’t believe that they apply in singular fashion unless you are contemplating some form of output deal.On a single picture license, a distributor will want to know what the budget level is so that: a) they understand what the production value will be; and b) they can feel comfortable that they are not paying an excessive amount in relation to the cost of the film. These are valid points but what people forget is that ultimately the budget of the film does not necessarily have a correlation with its success at the box office (Blair Witch etc).Our approach is to think like a distributor and run estimates – both revenue and expense – for a film in all media to determine a low, base and high value a film is likely to have in any given territory. With these estimates we can back into a license fee figure that would allow for a distributor to make money should the film turn out well. The budget comes into play if the sum total of our international estimates do not raise enough money to finance a film.
My post on “Is There A “Too Many” When It Comes To Playing Film Festivals” generated some good questions and points in the comments. I hope to get to them all in the days and weeks ahead.
I have been falling behind on my blogging; I admit it. Luckily, information never goes away. Nor is there anything like a shortage of things that need to be said. We have so many hurdles to jump in the indie film world. Or is it walls to break down? Even after we made it through once, the same challenges face us again. Even when one or two lead the way, the path gets overgrown immediately, and the rest seem to be lost all over again. So here’s to the better late, than never camp, a post on some old but still relevant news…
I moderated a panel at New York Women In Film two weeks back on “prepping for film festivals”. One of the panelists, Ryan Werner of IFC Films, said something that resonated with me. Ryan said that there are films that play so many festivals that they diminish his company’s appetite for acquisition.
- you do not have your trailer made and up on the web;
- you do not have clips selected and up on the web;
- you have not been writing a blog regarding the film for a significant length of time;
- you do not have a plan on how to keep that blog interesting for the next year;
- you do not have a website for the film up on the web;
- you do not have a simple way to collect email addresses for fans;
- you have not set up a way for fans to subscribe to updates about the film;
- you have not joined multiple social networks, both as an individual and as the film;
- you have not created a press kit with press notes for the film;
- you have not identified the blogs and critics you think will help promote your film;
- you have not built a study guide for the film for film clubs;
- you have not mapped out a festival strategy that builds to local releases;
- you have not made several versions of a poster, and have enough to sell & give away;
- you have not made additional promotional items for your film;
- you have not manufactured the dvd, and made great packaging for it;