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documentary

The Chicken and Egg of  Finding The Money To Market Your Documentary

The Chicken and Egg of Finding The Money To Market Your Documentary

In Documentaryland, there is rarely ever enough money to make your film. Therefore, to think about investing money into marketing it would be absurd because until you have an excellent film, nobody should or would want to market it. You can’t put the proverbial cart before the horse.

Once we understand this premise that independent films are (relatively) expensive endeavors and that crews are generally underpaid to make them (because they're oftentimes passion projects), why then do film funds and grants frequently require you to answer detailed questions about how you plan to market your film — even when you’re applying for production funding? The answer is simple: THIS MAKES NO SENSE.

If you had enough money to make and market your film, you wouldn’t be applying for film funds and grants. Enough said.

But alas, if you do have to market your film to take it to film festivals, it is expensive. Here’s a breakdown of some costs — none of which most teams will ever be able to pay for without a generous sponsor, philanthropist, non-profit, or or impact producer attached to the project:

  1. $2,500 to apply for film festivals — assuming you apply to 25 and they cost $100 each.

  2. $10,000 for a festival publicist to ensure your film is seen by critics who attend festivals.

  3. $1,000 to $2,000 per film festival for travel, depending on festival location relative to you.

  4. $3,000 to design and print posters, flyers, and other materials.

  5. The costs of creating an impact campaign ranging from a web site to actions that must be taken — that start with getting the festival seats filled.

Alas, you shouldn’t think about marketing your film until it is a film. Your focus as a filmmaker has to be laser- focused on making the best film possible. Sales and marketing is a very important side of the coin, but until your film is made properly, you shouldn’t be thinking about this coin. I’ll explain more on this in future posts.

Then, there’s the Hail Mary commercial option: Yes, if you make a commercially viable film and then sell your film to, say, Netflix, they will happily pay for you to attend a few festivals as it’s good publicity that their publicity teams can support in big ways, e.g. my film AMANDA KNOX launching at TIFF in Toronto in 2016 or Icarcus playing at the 2017 Sheffield International Documentary Festival. But again, this is a BEST CASE SCENARIO and likely won’t happen with most film projects.

I’ll repeat my mantra again and again: MAKE THE BEST FILM POSSIBLE AND THEN YOU CAN FIND THE MONEY TO MARKET IT.

Every Film is a Startup: a look at the similarities and differences between films and startups

Every Film is a Startup: a look at the similarities and differences between films and startups

I have worked for startups (Seamless.com. Quirky.com, Skillbridge.co) and I have made films (Amanda Knox, EuroTrump, and Freedom For The Wolf). There are many similarities about these environments and many differences too. Here's some high level analysis on this topic: 

Similarities: 

1. A high failure rate: Today there are about 10,000 films made per year. Less than 10% of these films will get released in US cinemas; in 2016 the figure was 736. And about 100 of these films will be studio films from Warner Bros, Disney, Fox, Paramount, Sony and Universal. While this may seem like a lot, there are 1 million new businesses created every year. Of these businesses, about 50,000 in the United States raise funding from angel investors. But most films and most businesses will be destined to failure. In the indy film world, you are up against major odds. As Stephen Follows writes, "Over the past ten years, 74% of all the money collected at the UK box office has gone to the top 50 grossing films."

2. Dreamy-eyed people dominate the industry: In an era since Mark Zuckerberg first turned tech stars into rock stars, the tech industry has been dominated by dreamy-eyed people imagining Maseratis, private jets, bottles of Dom Perignon, and boating on the French riviera. This was already how most people felt about the film industry. As such, any industry with bling at the end of the rainbow will attract tons of hangers on, talentless people, and wannabes. 

3. You can bootstrap a startup or a film, and it's getting easier: Good news for the film world. You can buy an amazing $2,000 camera, $2,000 worth of lenses, and $500 worth of sound equipment and bing, bang, boom, you're in business to make a movie. And luckily, most Directors of Photography have already made this investment so it won't fall on you as a director or producer to make such a purchase. In the startup world, tools from Squarespace, Gmail For Work, and even Salesforce can now be modified to fit the "solopreneur" budget. 

Differences: 

1. At startups, the sky's the limit; with a film, you have limited upside: This is the most important difference between startups and films. Let's say you make an excellent indie film on a $1 million budget. You may sell it to Netflix in perpetuity (forever!) for $2 million. After you pay your sales agent (15%) of this fee, you're netting $700,000. And let's say you have you only had one private investor in this film who gets 50% of profits. That leaves you with $350,000. But let's also say you as the producer and the director are equally splitting this upside. That's $175,000 each. And finally, say sayonara to 50% of that money because it's going to the tax man. So, at the end of the day, you've netted yourself less than $100,000. However quite frequently, you will also have to pay out other investors, producers, or people working for your film who benefit from the upside. Sorry Charlie, but this is the harsh reality of indie film. 

However in the startup world, if you're decently successful you'll get acquired by a bigger company, and if you're extremely successful, you'll stay private and make a load of cash or go public and make even more cash. 

2. Startups are much more likely to attract heaps of investment: Some 50,000 startups each year receive "angel" funding in the US. This could be $50,000 or it could be $50,000. Either way, there's a heckuva lot more money being invested into independent startups than there is into independent films. 

3. In a startup you can pivot, in a film you cannot: The word "pivot," now frequently parodied on shows like Silicon Valley, is a very real thing, and startups do this frequently. For example, I have a friend who started an online retail company to compete with Etsy. After working on this for a couple of years, she realized that the advertising technology she had built was far more interesting than the store itself. 

Whether you are making a documentary or making a feature film, it is insanely challenging to make a true "pivot" once your project is underway. In a feature film, it is near impossible. And in documentary, if you are going to call it a "pivot" you might as well just say you are starting to make a film on an entirely different topic and not using any of the footage that you've already shot. This said, one example of a successful pivot in documentary is Bryan Fogel's film, Icarus, now on Netflix (an excellent watch!). In Icarus, Bryan starts off his film by trying to use illegal doping mechanisms to give himself Lance Armstrong-like superpowers. Ultimately he "pivots" and reveals a much larger cheating scandal leading all the way up to Vladimir Putin. Of course there's a bit of timing and luck involved with this pivot, but Bryan capitalized on it very well. This said, unless you "pivot" at the start of your documentary, chances are you are then wasting a ton of time that you will never get back. 

 

 

A Year in Review: Adventures in Start to Finish Filmmaking

A Year in Review: Adventures in Start to Finish Filmmaking

I cannot believe how quickly the past year has flown by. Just over a year ago, my business partner Maria Springer and I graduated from the University of Oxford with our MBAs. We felt that the staid, old, complex film industry, especially documentaries, needed further disruption, beyond what Netflix and Amazon were already doing.

Armed with the lean principles we were taught in our technology and operations course at Oxford, we set out to make films at record speeds on record low budgets. And, as we learned in business school, it gets faster to make a film every time you do it. You will learn tricks left and right.

It took over 5.5 years from the time I landed in Perugia, Italy to start doing research for AMANDA KNOX until the film was released on Netflix. For our first OBSERVATORY project, EUROTRUMP, it took 9 months from the time we conceived the project until it aired on television on VICELAND in the Netherlands and Belgium and on the Dutch national broadcaster. This is a substantial improvement but there is more work to be done. If not for minor mess-ups along the way, we could've had this film ready three months earlier. But we will live and we will learn. We will make process improvements, And we will help others along the way.

Here are the key lessons we learned from making EUROTRUMP in 9 months: 

1. Run simultaneous processes: At its simplest level, this means if you are shooting a film you should also be gearing up to sell that film at the same time. This means start making trailers for your film while you are shooting it. It might be a pain, but as they say, "Show don't tell." 

2 . No deal is a deal until it is a deal. The BBC gave us a contract for this project a few months in. We thought we were set. We thought all was good. Then, the executive we dealt with over there went on vacation and all hell seemingly broke loose inside their headquarters. Our project became too controversial for them. And ultimately it was dropped. This was BY FAR the most stressful month for us over the past year. We didn't know this rule at the time, so we started coasting, thinking the BBC was a done deal and all was good. It didn't happen that way. 

3. ALWAYS BE CLOSING. As an independent filmmaker, your job is to sell as much as it is to create. If you don't sell your project, nobody will see it. And then you'll have an audience of 1. 

4. If you make something for $100,000 and sell it for $200,000 you've made a profit. If you make something for $600,000 and sell it for $200,000 you're very deep in the hole. This sounds logical, but too often I see filmmakers who want to raise loads of money, especially for non-fiction projects. If I can make a film for well less than $100,000, then you can too.  

5. Hire slow, fire fast. During the past year, we've had hundreds of personnel working for us on different projects at OBSERVATORY. It's been a major ride. I'm grateful that so many of the people who have helped us out are super competent at their jobs. However, we have also had to get rid of a number of people throughout the year, including interns, producers, and edit staff. It is painful when a bad apple, intentionally or unintentionally, ruins the whole bunch. There were many moments when I blamed myself or other people for someone's incompetence. (For example, if you start fighting with someone you previously worked well with, you have to look around you.) I hate to say this because it lacks scientific proof, but at some point, you have to GO WITH YOUR GUT. If you feel that a person is hurting your team or your efforts to move your project forward, you've got to get rid of them. This is the most difficult but also the most necessary part of being a manager. Once you are rid of your burden, you will immediately feel free. Having nobody working for you is better than having someone work for you who is incompetent and will waste all of your time. 

More observations coming soon...