FINANCEMoney, money, money

Finance is an important part of film-making, but….

What is ‘finance’?

Finance

Is the management of money, and money related matters.

need.

In film-making, finance can be best thought of as the money we have versus the money we need.

What do we need money for?

Lets think about funding for our crew…

They’ll need the correct equipment for their job…

We’ll need to get them to their location (travel)…

We need to make sure they’re fed & watered during production….

We need to pay them a fair wage…

Where can we get money from?

A broadcaster might pay us to make a programme for them…(eg. TV show)

A private investor might give us money in return for a share of the profits….

(eg. A feature film)

A client may pay us to make a video for them… (eg. Music video)

A charitable film fund may give you money (eg. Feature films)

Once we’ve got our funding we can budget for our production.

What is a budget?“…an estimate of income and expenditure for a set period of time.”

Why do we need to do a budget?

We need to make sure we have enough money to pay for all of our costs.

Why do we need to do a budget?

You have £1000 budget for a music video.

• You are filming for 2 days• You need 3 camera operators• Each camera operator costs £200 p/d• Each camera costs £80 for 2 days hire

Total cost = £1440Total funding = £1000Loss = £440

What are the implications of going over-budget?

This is why we always need to do a budget for our productions…

Task 1

Log onto the planning and research section of Moodle and look at todays tasks under week 4.