The Best Advice to Overcome Challenges Financing Your Film Business
For the enthusiastic film producer, tapping into consumer desires is a challenge. Consumer viewing preferences make it difficult to assume a storyline is a guaranteed winner, just consumer habits are increasingly turning to in-home film viewing jeopardize box-office success. Even still, the show must go, but for many producers it’s a financially frustrating ledge. Film industry financing is growing harder to obtain, as there is greater competition for the both those looking to produce and those in the viewing market. Consumers’ time is at the forefront of the fight for attention and film support, and this influences the quest for financing.
The trends in Hollywood impact the financing options for the filming newbie, but in a way, this could be advantageous depending on your target audience. Working to develop quality content but issued through a variety of media platform taps into the ever-widening gap traditional Hollywood productions are creating with younger generation viewers. Using more interfaces for delivery will expand your reach and audience, ultimately creating increased revenue streams.
In conjunction with these changes is the increasing movement to fund television-centered productions. While it may not be true to the traditional film industry financing definition, offering made-for-television productions or short series films aired on national or premium channels may be the way to secure funding your film business. If short films are going to be a part of your productions, releasing them through platforms like YouTube can potentially bring in additional funds that can support larger film products designed for theatre release.
During a more stable understanding of the viewing audience, private equity firms were more apt to finance movies through a co-investment with a studio. While some financing still occurs, most private film industry financing is reserved for international distribution companies which have opportunity to exploit the films and receive distribution fees.
Popular for bringing input to the people is the use of crowdfunding sites to generate cash for your film business. When presented with your projects and interest, activist groups, celebrities, organization and peers can lend their support for ideas where they share similar passions and perspectives. It never hurts to tap into the voice of the viewers. This has shown to be an attractive and lucrative option for low-budget indie films that cover socially-critical themes.
There are many options for funding your film business, but hard work and pursuing the right avenue will be what ultimately brings success to your efforts.
