American Film Market Dailies

PRODUCING STUDIO FILMS WITH INDEPENDENT BUDGETS– QUOTES:

Paul Hanson

CEO, Covert Media

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“There’s a lot of doom and gloom but our experience has been that if we have something that’s real and its rational in terms of the pricing and budget, then yes, we’re still getting business done. There’s a great thirst at international distribution level for high quality content. The bar is higher than before.”

“Certainly form a casting standpoint – there’s a whole other access point to consider in new media platforms, where you might not get a key star, but someone with an immense social media following, which gives you huge embedded marketing tool.”

“These new platforms, whether Netflix or Amazon, it’s a double edged sword. Its great news in the short term for a lot of us because you have very credible, well-heeled buyers which creates a useful auction environment for projects. The downside is in some cases, the upside is limited. For those of us that have investors, the film & TV industry is a hit based business – no matter how good the script and execution, we’re exposed to risks at distribution level. You pick a bad date or there’s a snowstorm on the date of your release – you may have had a kick ass film but it doesn’t work out. Your capping your upside but in the long-run, you’re not getting your Blair Witch Project, your District 9 which help you create a portfolio.”

Michael Ryan

Partner, GFM Films

Michael Ryan, Partner at GFM Films and Chairman of IFTA, speaks at the American Film Market Finance Conference II: Producing Studio Films with Independent Budgets

“It’s been depressing to be doing what we’re all doing in the past 5 years – but there’s been a tick up over the last 6 months or so. You can only go so long without buying movies – If you don’t have them then you’re out of business. It’s very cyclical and I get the feeling that it’s back again, but the bar is very high. Genre pictures are easier to sell and don’t rely on big star names, but it’s still all about the package. In any independent financial structure you’re doing to need 3-4 pre-sales.”

“It helps to give us more platforms to go to, but then if you are successful, if you do a deal with amazon or Netflix and you’re using that as part of your collateral to make your film, they usually pay you over 4 years. So if you work out what the interest cost is, that’s difficult to do. You’ve got to be realistic about what it’s worth. I’m talking about them making your film, not just acquiring it.”