Creating the Right Business Plan

I decided to conduct further research on industry experts and the advice given on creating a structured business plans, primarily in film. I came across Producer Kevin Geiger, who is most known for Chicken Little and Species. He offers several informative tips on business plan development for creating films. One tip that he offered that stood out the most is that it is good to have a production company for creating several small projects, but when it comes to creating feature length films, it is easiest to create a production company with the name of the movie. Separate the and use the production company to serve as the entity for producing a film under an LLC (limited liability company). So, that encouraged me to change that aspect of my business and use the feature film as a business within itself.

Creating an LLC umbrella for a particular feature film opens multiple doors. It provides several tax benefits. An LLC allows the company to deal with investors directly and helps balance out the types of investors that are attached to the film: the investors seeking partial creative control or the investors primarily concerned about the return on investment.

Geiger also mentions that most independent filmmakers struggle creating a strong business plan pitch. It’s important to immediately show an investor how they will make their money back. Selling movies is one of the hardest aspects about the film process. The success of a film is unpredictable in so many ways that the several questions that will always be asked are: 

• How will this movie be released? (Digital, theatrical, or DVD)
• How much money will this movie make?
• Will this movie break even? How much do you anticipating the film make?
• Within the last few years, what other movies similar to this have sold successfully within the marker?

The sections of the business plan that investors will most definitely look at are the marketing and promotion sections. They will need the visual on how the movie will reach its audiences and make sure the potential for profit. Another section of the business plan that investors will be interested in is the trends in the film industry. Trends are always shifting, so utilizing the trends will increase the chances of increasing revenue.

A business plan for a film is approached in a non-traditional format, but includes some of the same logistics as a traditional business plan. When the business plan is approached to an investor, the first aspect an investor wants to know is, "How much money will I make back?" Showing how an investor will make return on their investment. It is important to remember to always inform the investors of everything that happens with the film. If anything were to happen, and they felt they should have known and were not informed, the investment could be pulled from the project.

House of Cards: A New Future for Netflix

During the recent Emmy nomination announcements, The House of Cards wrote history in becoming the first online original series to be nominated for best drama. The actors also received individual nominations. Everyone who was anticipating the nominations for the Emmy’s were surprised that a show created purely for online streaming reached the same standards as television shows on major cable networks.

House of Cards stars Kevin Spacey in a political drama about Francis Underwood who is very sly and knows about all of the secrets that circulate the political realm. His primary motive is to use the secrets to manipulate his way into becoming the next President.

There has been tremendous hype around House of Cards. With Netflix being the leading video streaming service, the company should use the success as an advantage. According to CNET, Reed Hastings, the chief executive of Netflix, is hoping that once House of Cards has reached its third or fourth season, that the series will become a global phenomena like the Harry Potter franchise. Netflix is doing something right: evolving into a television outlet exclusive to its users.The primary benefit of Netflix producing an original series is the company does not have to worry about monitoring ratings.

All in all, House of Cards is an example of the industry expanding from its traditional ways. This changes two things. First, it gives Netflix a new edge in being a company that offers its customers new and strong originally developed content. This is definitely proving to be true. Netflix’s next successful endeavor is a new television show that was launch earlier this month called Orange is the New Black. Orange is the New Black is being called Netflix’s best original series Netflix has released. It looks like things are looking up for Netflix!

Trends in Filmmaking

There are several trends circulating the movie industry and the trends are always changing. It is important to notice and follow the trends of the movie industry to stay ahead of the game. The industry trends can assist knowing what genre of films audiences want, the type of content audiences would like to see, how movies are being distributed, and so much more.

If you are looking to write a script, it is important to recognize the script trends. A scriptwriter can write all the scripts in the world, but there is one important factor that should be taken into place. The script needs to be put in front of a producer and agent. In the industry, that is the only way a script will be seen. If the script is believed to be something that industry leaders will be interested in, push to get the script on the Black List. An intern, who worked at Leonardo DiCaprio’s company, created the Back List seven years ago. The intern originally created the listed as a Christmas holiday list, and then it became an industry honors list. If your script makes it on the Black List, it will be guaranteed that the top producers and agents will read the script.

One major trend that tends to keep resurfacing Hollywood is book to movie adaptations and remakes of old films. At this point in history, every movie plot has been created. The question now is, “who can tell the story better.” The most successful book to movie adaptations has been adapted from teen novels such as Twilight, The Hunger Games, and the new franchise: Divergent. A strong benefit from investing in create book to movie adaptations is that before the movie is even officially in pre-production, there is already a strong following from readers. It helps begin marketing with fans of the book putting out who they think should be casted for the characters and builds a lot of hype.

Another trend is the type of equipment used to create films called lo fidelity filmmaking. Filmmakers are using DSLR’s instead of large industry standard cameras. Filmmakers are even using GoPro cameras.

Films are also utilizing film festival outlets. Distributors are strategically using film festivals as a jump-start to distribute a film. If a film can generate a buzz throughout the festival realm, it has a chance of doing well in theatres. Going the festival route can prove to be a slower process, but it has been deemed successful.

Why does Pitch Perfect work?

We have reached a time where musical comedies are becoming tiresome. The hype is still there, but the implementation is less than exciting. When Pitch Perfect was first released, the expectations for the movie were low. Yes, the trailers were funny, but that always poses the question, “Were those all the funniest moments in the movie?” When the advertisements began, it was instantly compared to the television show, Glee, because of the “organizing singing” concept. After the first weekend premiere, the word began to spread about how audiences were surprised at how well the movie was executed. It quickly began forming a cult following, grossing $65 million in the box office .

Pitch Perfect is about an aspiring DJ, Beca (Anna Kendrick), who is forced to test out college first before moving to Los Angeles to begin her DJ career. Her dad, who is a professor at the university she attends, urges Beca to partake in one club activity. In return he will pay for her to live in Los Angeles. She auditions for the all female a cappella singing group, the Bellas and begins her journey from there. The Bellas are known for singing oldies and staying in a safe zone. This makes it difficult for them to surpass their school and competition rivals, the Troubletones. It was not until Beca finally convinces the co-captain that mixing up old and contemporary songs is a good thing that the Bellas start to connect. 

Why did Pitch Perfect work so well? It was realistic. It did not follow the rule of a traditional “musical move”. The motives for the singing were clear and guided the movie appropriately. None of the characters sporadically busted out in song singing about their feelings at that particular moment. The characters in the movie just want to create entertaining music, and develop success from their hard work.

Pitch Perfect also had the most diverse and well oiled cast to carry the movie. The movie was carried brilliantly through the characters more than the plot of the film. Kay Canon, who is the writer of 30 Rock and New Girl, created one of the most appealing characters for a movie of this stature. Each character had their own quirk that made the characters lovable. It was definitely refreshing to see new faces in a movie.

Overall, it is definitely a must see movie, regardless of whether you think you may enjoy it or not. With outstanding performances and musical numbers, there is something in it for everyone.

Distribution for Independent Filmmakers

The hardest part about being an independent filmmaker is distributing the film through the appropriate distribution outlets. It is imperative to understand that choosing the right distributor is crucial. The distributor should be able to distribute the content through several different outlets: Video on Demand, DVDs, television, theatrical distribution and so on.

When a filmmaker signs a deal with a distribution company, the deal is called a Gross Adjusted Deal. The deal involves the distribution company paying the filmmaker an advanced fee then the distribution company and the filmmaker split the revenues generated. There is one thing that should be cleared up: the advanced payment mirrors a promise from the distributor that he will push to ensure the filmmaker gets the best benefits from signing with the company. It motivates the distributor to look out for the best interest in the filmmaker’s success.

The deal that filmmakers should be wary of is the First Dollar Split deal. The deal is when the filmmaker and the distributor do a 50-50 spilt and the distributor does not include an advanced payment, which can be a large disadvantage to the filmmaker. When the distributor makes the First Dollar Split deal, the distributor lacks motivation and may choose to leave the film on the shelf until the contract expires.

Most independent filmmakers do not have a strong reputation. So, it is important to market the film well. The independent film must display some aspects in marketing itself. If the filmmaker does not see the potential in the film potentially marketing itself, then it will be hard to find a distributor to distribute the film.

Sometimes, depending on the project, self-distribution can be the most beneficial option. This can be used as a last resort. This is once the filmmaker has done everything possible to find a distributor that believes in the project, and has walked away without closing a deal. Amazon.com offers great self-distribution opportunities that are utilized by a wide variety of genres. The filmmaker can use this as an opportunity to build a following and show a potential distributor the advantages of assisting in distributing the content.

Being an independent filmmaker means understanding the advantages and disadvantages of all aspects of producing the film. Distribution should take an extensive amount to planning and strategizing to maximize profit.