Finance

1. Finance
An important part of the pre-production process is to assess the financial
viability of the proposed production. There are two aspects to this: first, the
potential sources of the finance (such as advertising, sponsorship, subscription
fees, cover price, sales, rental charges) and second, the expenditure (covering
such elements as equipment, materials, transport costs. Crew, personnel, facility
hire, clearances and legal costs).
It Is likely the productions that you will undertake for your practical units will be
subsidised by your college, as you will be using their equipment and materials
and you will not have to pay for the personnel on your team. This means that
your financial needs will be minimal and you will not necessarily need to secure
funding for your projects.
However, you need to demonstrate that you are able to work in in a realistic
vocational context and you should explore the potential funding for your project
as well as the potential costs, as both of these factors are critical to all creative
media productions if they are to be viable.
Types of Funding
 British Film Industry Fund: The BFI uses National Lottery funds to
develop and support original UK filmmakers and films. They help with
production and development funding: support production and also give
support with distribution and exhibition funding.
 Crowdfunding: Crowdfunding is known for as a way of raising finance by
asking a large number of people for a small amount. There are some
websites that are created specificially for fundraising, such as ‘Go Fund
Me”People uses these website to try and raise money for their own short
film project. Pros- A good way to raise money yourself because if people
like the idea of a film there will be a good chance that they will donate.
Cons are that it could take years to reach the budget set for your film.
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2. Finance
 Film Studio: Funding is availiable from some studios. For
example Pinewood Studio has a range of UK film such as
Spooks, Belle, and The Riot Club. They offer three types of financing:
The Isle of Man Development Fund
Welsh Government Media Investment Budget
Pinewood Group Equity Investment
We will be using crowdfunding as the method of finance for this project, we think
this is the best way, as we will be explaining our ideas for our project, when
explaining we can expect to get some suggestions and help from the people who
will be donating, we also do not have to pay back the budget. The problem with
this is that we won’t know when we will get the budget we want for our project,
it could take months even years before we hit our target of £5,000. We did
consider applying for studio funding to get the project up and running sooner
but decided against it due to some of the content that we felt might be a risk.
After some research we felt that a studio would more input and try to change our
initial ideas which would change the message of our film completely and we
would maybe not allow us the freedom we want to shoot this film.
Requirements
- Transport / Travel - £200
- Costumes - £200
- Catering - £400
- Actors - £700
- Equipment - £700
- Location - £500
- Crew - £500
- Advertising - £300
- Marketing - £400
- Props - £500
- Accomodation - £500
Sources
http://www.bfi.org.uk/supporting-uk-film
http://www.pinewoodgroup.com/our-studios/uk/film-
finance
http://nofilmschool.com/2014/08/film-finance-101-
equity-pre-sales-gap-tax-incentives-deferred-
crowdfunding
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