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Contents Page
Content Page
Finance 3
Sources of finance: private, public, joint financing.
Requirements of finance: for equipment, crew, transport,
materials, clearances, talent, facility hire.
Logistics
Time: deadlines, availability of equipment, availability of
personnel, timescales.
Facilities: production equipment, post-production equipment,
facility houses, prop houses, sourcing and costs of facilities.
Locations: identification; recces; limitations and risks, e.g.
distance, access, cost, weather.
Personnel: technical crew, actors, extras, contributors, e.g.
experts, specialists.
Materials: type, e.g. original materials, archive and library
materials, photo-library materials, sound library materials,
internet, assets, audio, script, animatics, graphics,
interviews, costumes, properties, recorded music, sources;
costs; clearances.
Adherence to codes of practice and regulation.
Clearances, e.g. Mechanical-Copyright Protection Society
(MCPS).
Legal, e.g. copyright, health and safety.
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Regulations, e.g. Ofcom, Independent Press Standards
Organisation (IPSO), Advertising Standards Authority (ASA).
Trade unions and professional bodies, e.g. Producers Alliance
for Cinema and Television (Pact), National Union of Journalists
(NUJ).
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FINANCE
The definition of finance talks about the management of money and companies used to
fund a creative media production. In Pre-production planning, finance is one of the key
aspects needed to create an organised and well thought out media production that will
benefit you as a company.
TELEVISION
Finance in TV is vital for producing TV shows as you have to be aware of how much you
are spending on a variety of different things e.g. hair, make-up, cast and crew. TV
shows normally are in a series which results in more money being spent because they
have to produce more than one episode. If a TV show was to put a large amount of money
into their show it is more likely to be of a better quality than if they didn’t put
much in which would result in a decrease in views and a waste of the money you have put
into the show. Friends spent an average of $10,000,000 per episode because each of the
6 main characters got paid $1 million.
FILM
In film finance plays a key role in the success of it as
money funds the whole thing as its used for variety of things from advertising to
production costs. Production costs will normally be very high has technology is
advancing in the film industry and actors are paid large sums of money for their parts
in films. However, films benefit from this by having a high gross in return from their
success if it is successful. An example of a highly expensive production cost would be
Avatar who spent $425,000,000. However, this was not lost as their worldwide gain was
$2,783,918,982.
GAMES
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Finance for games is used for the making, creating and advertising of the games. For
example, story boards and artists would be drawn and a design team would be hired which
would cost them money even for that. The average cost for creating a game would be $5
million-$10 million however XBOX spends over double the average price up to a massive
$50 million. This is all because of the quality of their games and also, they rely on
the sales of the game and the game being successful. Which in turn enables them to
spend more on the marketing side and advertising of their game.
AUDIO
Radio station generally spend their money on paying artists to
play their songs and for artists to feature in their show. The
interviews however are normally quite short which saves the company money as
they would be paying them. This plays a key part in the pre-production planning for
radio stations. This is because they don't get as much money as films or tv shows would
get therefore they don't have as much money to spend so they need to limit themselves.
DIGITAL MEDIA
Magazines and newspapers pay money to use celebrities’ photos and
organize interviews with them. However, this probably costa quite a bit and magazines
and newspapers also cost to print. The cost of these aren't that expensive to they have
to rely on the celebrities they put on their front cover and how engaging the magazine
or paper looks to boost their sales. Being aware of how much you are
spending on printing and paying celebrities is vital if a magazine company
or paper company are to stay in business.
SOURCES OF FINANCE
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Requirements of Finance
When creating a media product there are a host of things that you have to consider to
ensure that you do not have a large amount of damage on your budget. These have to be
analysed and checked in pre-production planning.
FILM AND TV
Equipment-
To ensure that you have a programme or film that is of the highest quality you can
achieve, as a director you are surely drawn towards the best cameras and sound
equipment. However, the best is normally the most expensive. This means that you have
to compare the prices of equipment and decide which would benefit your show or film the
most to ensure the least amount of money is spent.
Cast and Crew-
Cast and crew also have to be paid during this which subtracts some of your money too.
For example: Millie Bobby Brown from stranger things was paid $5 million to be in the
show which is obviously a large sum of money. The company need to be confident in their
team that they will do a good job to ensure a high rise in the profits.
Facility-
For a tv show or a film you will obviously need a variety in scenery which impacts the
cost as you have to hire these places. You have to pre-plan this and organise how many
shots you need to take in that place so that you don’t have to return and hire again.
This is why Pre-production planning is so important.
AUDIO
Equipment- In radio there is a fair amount of equipment needed as you
have in the studio e.g. Audio Console, Microphone, Microphone Arm,
Playout and Automation Software, Level Meters etc. In the rack room,
you have: Computer’s, KVM Extender, Mix Engine, Audio Router etc.
Finally, at the transmitter site you have: Studio Transmitter Link, FM Stereo
Generator, Composite Switcher, FM Exciter etc. This is all expensive equipment which
therefore means radio stations rely hugely on the advertisements of other companies
that they get paid to air and also the radio stations listeners. As a result of the
convergence of media radio can now stream online and you can watch it on Tv which means
more equipment needed to film.
Crew- There is obviously not a lot of cast in radio other than the few artists that
come on to advertise their music. Other than that, most of the people in radio are crew
that controls all of the equipment.
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Facility- Compared to the films and Tv shows, radio have it easy as they don’t have to
change locations they just have to hire a studio to produce their show in which
doesn’t have a huge impact on their price.
GAMES
Equipment-
A computer filled with different programs and software’s to
edit and create the game.
Crew-
A lot of crew is needed to create a game as you need
designers, creators, editors and testers.
All of this needs to be paid for which impacts the advertising budget as it costs a lot
to produce a game.
DIGITAL MEDIA
Equipment-
For magazines and newspapers the equipment varies. In a magazine a camera is needed to
photograph the models or surroundings they want to include within their magazine. This
impacts the costing of the magazine as it costs a lot to print and produce. However,
you want a good quality camera to ensure people want to buy it.
Crew-
Designers,
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Time
Time is a crucial aspect to creating different types of media
FILM - The scheduling of a film is very important as you
have to plan in advance where these scenes are being filmed and
who you need to film these scenes. This ensures you book your
actors. The editing timeframe is also important as you want to
meet your deadline to ensure that when your advertising
campaign comes out it doesn't take too much longer for the film
to be released otherwise the hype will have been forgotten. Avatar took 10 years to
create. However, by gaining the highest grossing film of all time and collecting many
awards, I don't think time really mattered.
TV-Similarly to films, Tv shows also need a lot of planning to
create especially if they are a series because there is normally a new
episode every week. So, the editing crew are under the pressure to get
them edited and out.
AUDIO-The pre-planning of what topics and guest
interviews on radio have to be precisely planned because each section of
the show has a specific running time. The producers and hosts have to
decide all of this before the show starts which means ridiculously early
mornings for the breakfast hosts and very late nights for the evening
hosts.
GAMES - Games take a very long time to make as there is a lot of
work that goes into the quality of play and the graphics. As well as this
the planning before the game is even starting to be created takes a long
time also. For example, Assassins creed took 2 years in total to make.
DIGITAL MEDIA – The designing and interviewing for magazines
and newspapers takes time. The amount of time it takes for the
interviews to be organized and done it impacts the writers as they have
to produce it fast enough so that the news they are writing about is
not old and out of date.