FILM INSTITUTION RESEARCHFunding a Production

CROWD FUNDING – CROWD FUNDING IS WHEN YOU PITCH AN IDEA FOR A FILM TO PEOPLE WHO MIGHT BE INTERESTED IN WATCHING YOUR FILM AND MAY HELP CONTRIBUTE TOWARDS IT, POSSIBLY FOR SOMETHING IN RETURN. WEBSITES LIKE KICKSTARTER AND INDIEGOGO CAN BE A PLATFORM USED FOR THIS. USERS CAN UPLOAD THEIR IDEA, GIVING SOMETHING IN RETURN FOR PEOPLE WHO CONTRIBUTE.

Pros

You can get more money than you need/want in some cases.

You can get feedback from people funding your film that could help improve it.

It could help publicity with many people contributing to the film.

Cons

You often have to provide something to the contributors in return for contributing, which can be cheaper than paying back money.

You can be charged tax, and even extra tax if you do not meet your financial targets, which could lose some money in the production of the film.

You do sometimes need to have an already established presence elsewhere to make it more likely for people to invest in the production.

THE BFI – THE BFI (BRITISH FILM INDUSTRY) ACCEPTS APPLICATIONS FOR FILMS OF ALL GENRES AND ARE COMMITTED TO PROMOTING DIVERSITY IN THE FILMMAKERS THEY SUPPORT. (HTTP://WWW.BFI.ORG.UK/SUPPORTING-UK-FILM/FUNDING-FILMMAKERS)(HTTP://WWW.BFI.ORG.UK/ABOUT-BFI/HELP-FAQ/LOTTERY-FUNDING-DEVELOPMENT-PRODUCTION)

Pros

They are focused on promoting diversity, so despite having some T & Cs, it might not hinder the creativity of the production.

Cons

There is a lot of competition to get the funding from the BFI, since a large volume of applications is submitted, so only the best are submitted to further stages.

They also judge on the experience of the filmmaker, how original the idea is and how credible it is with the budget available, so this need to be taken into consideration also.

It can be quite time consuming to secure the funding, so other options might be more desirable, as they might be more quickly available..

COMPETITIONSCOMPETITIONS ARE AN EASY WAY FOR FILMMAKERS TO GET AN IMMEDIATE AMOUNT OF MONEY TO USE FOR THEIR PRODUCTION.

Pros

There are no people who can restrict creativity, e.g. investors, local councils.

Winning a competition could help get the production into the public eye more.

It is immediate funding, so you don’t have to wait.

Cons

Winning a competition obviously means going up against other people first, which can offer slimmer chances of winning.

With other options, you may be able to access more money if required, however, a competition provides the one-off immediate payment, so if you run out of money, there is not extra funding.

PRIVATE INDIVIDUALSWORKING WITH ANOTHER INDIVIDUAL WHO HAS THE MONEY TO FUND THE PROJECT COULD ALSO HELP BRING THE FILM TO LIFE.

Pros

The other person could help with the film itself.

You can negotiate specific terms and conditions involving the money.

Cons

Falling out with the individual could jeopardise the success of the film.

Working with another person’s money could require certain creative restrictions.

If the private individual wants the money paid back, there could be financial consequences if the film isn’t as successful.

BANKSBANKS ARE WILLING TO LEND MONEY, AND COULD REALLY HELP TO SECURE FUNDING FOR YOUR PRODUCTION. DESPITE THIS, YOU MAY NEED TO HAVE CERTAIN ASPECTS THAT SHOW THAT YOU DESERVE THE MONEY OR CAN PAY THE MONEY BACK (E.G. A GOOD CREDIT SCORE). THIS COULD ALSO MEAN THAT THE FILM HAS TO BE CREDIBLE FOR THE BANKS TO BELIEVE IN IT ENOUGH TO GIVE MONEY.

Pros

They are on your side to help you with the film.

The banks are easy to access.

Cons

You could require a good credit score to secure the funding, which could mean building one up/improving it.

They need to have faith that they will get the money back, so the film has to be proved that it can be a success.

LOCAL COUNCILS Pros

You are likely to have less competition against others for the funding since it is local.

Cons

You could potentially lose a bit of creative control as the local council would not want to represent themselves in a way that they may not like.

Due to priorities, providing funding for local film-makers is not going to be the most important thing to the council. So it could be quite time-consuming waiting for this funding.

They may only provide funding for projects that will benefit them.

CONCLUSION Overall, it seems that there a quite a few different ways for different levels of filmmakers

to acquire some money to help produce their films. However, for a new filmmaker, who may not be as experienced, shouldn’t really try and aim for the more risky options which could see them get into financial problems, since they may not have such a successful film.

Getting funding from the BFI may be a better option, since they are a more secure source, however, this option along with some others does involve competing for the money.

A more secure, and better option for a new filmmaker would be to have the film crowd funded. Although you may need an established presence elsewhere to see a good amount of funding come in, it is often free (apart from taxes that may change with each service) to set up a campaign and you can get instant feedback from the public and people willing to contribute to your film.

In some circumstances, your film could be a very convincing investment for a contributor and you could build up more money than you require, which can help with the success of the film. But again, as aforementioned, it may require establishing yourself elsewhere before you can secure a decent fund from crowd funding.