The process of making a film doesn’t only include the artistic spectrum of things. As a filmmaker, you should keep in mind that finances are just as significant. It should be a top priority, especially if you’re planning to produce your art independently. In fact, independent filmmakers frequently choose the type of film they will make based on the number of funds they can collect before and during the production process.
So, how do you finance your own film without the help of major studios? Read on to find out.
5 Ways to Finance Your Film
Independent or “indie” filmmakers have a common obstacle to conquer: the film’s budget. To get the necessary items, you may feel as if your only option is to spend money you don’t have by making personal loans from different sources. But this is something you should avoid. Instead, be smart and make the right moves to fund your film.
Product placement is when a film features a specific brand or product. By doing this, the producers will get either financing or free products they can use in one of their scenes.
You should prepare a marketing strategy for this approach. That’s because before investing in or even allowing their products to be used, brands will ask you about how your film will reach viewers.
For a film to be crowdfunded, you can formulate a pitch, produce a trailer, build a website, or publish a cast list. Let the public take a peek at what’s to come if they help you raise funds for your film.
People may not be willing to invest thousands of dollars in your film, but if the project appeals to them, they may want to contribute at least a bill or two. Individually, that sounds too little, but if your crowdfunding tactics reach a big audience, the total amount could turn out to be significant.
If a film distributor sees potential in your idea, script, production team, cast, and marketing strategy, you might have a chance to enter pre-sale agreements.
When a pre-sale agreement is made, you will have two options. One, go to a bank and make personal loans with the agreement as collateral. Two, get paid directly by the distributors. If you don’t have any credit history, there are plenty of lenders who don’t perform credit checks you could consider.
Filmmakers can apply for a variety of grants and fellowships to make their movies. You can choose from government fundings to grants from nonprofit organisations. Similar offers are also available from film institutes and film festivals.
To get into a grant, build your application around the organisation’s mission and core beliefs. You’ll have a lot higher chance of resonating with the grant organisation if your application fits the model of the initiatives they fund.
In the world of film financing, tax incentives are also called “soft money.” This is because once it’s given to you, you won’t have to pay it back. It’s not in the same category as personal loans and return-on-investments. However, you won’t get incentives until you finish producing.
There are different tax incentives, deductions, or refunds available in several countries for filming scenes of a movie or housing a film’s crew in specific places, generally to boost tourism.