10
Bankroll

Lots of screen writers don’t like to think about money unless they’re getting it! The thought of having to pay for our visions sometimes is just too overwhelming, but if we want to be professional we’ve got to think about it and think about it very seriously. We’ve got to remember that show business is just that—a business. No matter how artistic we like to think we are, ultimately, we’ve got to be able to raise the capital required to get our projects off the ground. That’s true of any business startup and therefore true for filmmakers.

Although writing seems to be one of the “cheaper” art forms, requiring only minimal tools, screenwriting in its final form (an actual film) isn’t cheap at all. In fact, it’s downright exorbitant.

It’s necessary finally for screen writers to come to terms with the fact that they are duty bound to think of budget if they want to get their project seen. We’ve discussed how to do that during the writing process in Chapters 6 and 7, but when the writing is done, it’s time to make the screenplay come to life by raising the money necessary for production. This isn’t easy to do and requires learning a mind-set crucial to your success.

Roberta Colangelo, producer, distributor, contract administrator, and paralegal with over 15 years of deal-making experience in the international film and distribution market, has some really sage advice about fundraising for those writing shorts for production. I’ll be referring to her advice in this chapter to help you negotiate the funding world.

First, you’ve got to establish a budget for your project. There are lots of books on budgeting so I won’t get into how to do that. You can use the template in Movie Magic that will help you determine how much money you’ll need.

As I’ve mentioned earlier, the average 7-minute short using free camera equipment can come in at about $4,000, but I’ve seen students budget their 10-minute projects for $17,000, and some, who I think are crazy, even have spent as much as $35,000 on their short films. To my mind these figures are far too high. If you’re going to spend that much, you might want to consider putting it into producing a feature!

Once again, remember that a short is your calling card to help you raise money for the feature and to introduce you to the professional world. That means that although it needs to be high quality and professional, it doesn’t need to throw the maximum amount of dollars up on the screen. People with high budgets usually rent expensive equipment, pay their cast and crew, and hire other professionals to dress up their productions. And, as we spoke about earlier, they often do that by neglecting story, which is all important.

Let’s say you’ve arrived at a decent doable budget and you need to raise money. How do you do that? Let’s look at some sources.

Personal Funds

Some people use their own money. They save up. That’s an okay idea but always very risky. You should only invest money you are willing to lose. Chances are you’ll never get that money back.

You need to really think about how much that personal money means to you. I’ve known people who have mortgaged their houses to pay for films and have been financially devastated.

Don’t sell your valuables, hock your jewelry, or rent your dog! There are other ways.

Others go to family and friends. This is also very risky. Family members and friends need to realize that they will NEVER get their money back. Short films seldom recoup their investments. Aunt Sadie may think it’s a fabulous idea to invest in your career because she believes you’ll hit it big, but may write you out of her will when she discovers she’s “lost” that huge chunk of cash when your film failed to win an Oscar! (And even if it did, you might still wind up broke.)

It’s wise then to offer Aunt Sadie and the friends who’ve chipped in to fund you something in return other than cash. Perhaps they’d like a credit, a visit to the set, an invitation to the wrap party, and screening. You can offer some fun things but be careful. You don’t want a Bullets Over Broadway scenario where your best friend Freddy’s given you megabucks in return for you casting his untalented girlfriend in the lead.

And then there’s the issue of creative control. A friend of mine had a wealthy dentist invest in his film and then was driven crazy when the dentist showed up on the set every day demanding creative changes. Make sure what you promise is deliverable and that your investor knows what he or she is getting into. Put things in writing so there will be no surprises. Friendly handshakes are great but have a way of disappearing from memories when there is no written agreement.

Because these personal funds are so problematic, you should look at some other ways of raising money. You’ve got to think big here and be bold. Think in terms of “contributions.”

Contributions

Roberta Colangelo breaks these down into three categories.

Fiscal Sponsorships

You may never have thought of these as a possibility but think again. Many charitable organizations (501(c)(3) of the Internal Revenue Code) might be interested in what your story is about. Remember Chapter 2? That was all about knowing what your story was really about. Take a look at your ultimate message. For example, I had a student writing a story about a woman trapped in a cult. The message: cults are dangerous. That student can hunt down organizations that specialize in deprogramming cult members and perhaps receive fiscal sponsorship. The organization should want little in return except for a credit. (Again, remember the caveat of script involvement touched on in Chapter 2 and decide if you want to let the organization have creative input. Make sure you get that in writing.)

Most organizations are happy to remain uninvolved if they are on board with the values of the script and its execution. One of my students wrote a script about teenage suicide and was able to get a suicide prevention organization to fund his entire film. This is the real payoff for knowing what your film is really about and making that ultra important as you write the script.

Corporate Sponsorships

Here’s another opportunity to get creative. Ms. Colangelo defines this as corporations giving money or materials directly to the project. This means that companies, anxious to endorse their products or build up their image in communities, might contribute to a project they think closely aligns them with positive values.

For example, if you have a script that’s about depression, you might get a drug company to fund you in return for a thank you at the end or a “brought to you by” or “With Special Thanks” at the beginning. “Thank you” credits can mean a lot of publicity and promotion to companies, particularly in markets where they are not often featured. Because they are anxious to get access to these markets, they might just come up with some funds. To entice them, you might want to consider who your audience is, and we’ll talk about that a little later on.

You might also get corporations to contribute products or services. For example, many of my students are able to get food for their shoots by acknowledging restaurants in their credits. Contributions like these can save you lots and lots of money.

You might also be able to get products (props) placed in your film for free. But make sure that these products are integral parts of the story. Legally, they have to be. You don’t want your movie to look like a commercial. For example, if you write a script where a watch figures prominently, you might get a watch company to sponsor the film or at least give you the use of one of their fabulous watches. If a car is an integral part of your film, you might be able to get a company to let you use one for free.

In 2001 and 2002, BMW funded The Hire, a series of eight short films 8 to 10 minutes long each, produced for the Internet. A form of branded content, the shorts were directed by prominent filmmakers like Alejandro Gonzales Inarritu, John Woo, Ang Lee, Guy Ritchie, Tony Scott, and John Frankenheimer; featured Clive Owen, Gary Oldman, Don Cheadle, Mickey Rourke, and Madonna; and were chock full of BMWs. Although the cars played a prominent part in the films, they were never mentioned specifically. The scripts were written by a team at BMW’s advertising agency with input from the directors. Anonymous Content produced the films. David Fincher executive produced.

Some companies may not want to make movies themselves like BMW did but would be happy to include their products in yours. Remember that marketing and promotion is the ultimate goal of these corporations, so you’ve got to convince them you can reach a definite audience.

Grants

Grants are usually a long shot but not impossible. You can find a link to grants that will give you application forms and the documents you will require at: http://www.filmdaily.tv/grants/short-film

Remember that grants are not a sure thing and may not fit your production schedule. And they may not be large enough to make a dent. They can, though, be important in other ways. If people hear that you got a grant from a particular group, they might be more willing to contribute to your project. If others have shown confidence in your project, people will want to get on board too.

Promotion, Marketing, and Crowdfunding

All of this can take place at the same time. The first thing you’ve got to realize is that crowdfunding involves promotion and marketing. In fact, crowdfunding and marketing go hand in hand. Ms. Colangelo is quick to point out the difference between promotion and marketing, and this difference is often something filmmakers who use crowdfunding don’t get.

Promotion is letting people know your film exists. You can put it on social sites and let them know you’re in need of cash to make it happen. But marketing is more widespread and requires more work. As Ms. Colangelo says, “It shows audiences the value of your film and tells them why they should contribute to it.”

You should give your film a Facebook page and a website. Including strong, significant buzzwords your film addresses can move it higher on the Google search engine. You will also need to Tweet regularly, making sure that you can bring something new to your Twitter feed every day. If you just repeat yourself, people will ignore you. And be sure to use relevant hashtags that will tickle individuals and corporations looking for those subjects your film highlights.

All of this takes a significant amount of work and attention. Putting in the time will up your chances of reaching your financial goal.

A Marketing Must: Finding Your Audience

Before you start, you should take a look at The Seed & Spark online handbook Crowdfunding for Independence! Seed & Spark calls itself an “independent film community where filmmakers and audiences join forces to fund films” and offers this handbook free on their site (www.seedandspark.com). It tells you in a clear, no-nonsense way everything you need to do to fund your film. And it begins by telling you that the first thing you’ve got to do is build your followers by finding your core audience.

That core audience is made up of the people who will be supportive and happy to contribute to your movie. How do you find those people? Consider your subject matter—what your film is really about. If, for example, your film is about life in the jazz world, you need to search out people who are interested in jazz. Check out Internet groups and forums devoted to jazz and let them know about your film. If your film is about mental illness, seek out groups interested in that issue. These groups will add to your crowdfunding base and give you contributors that reach far beyond family and friends.

Seed & Spark also suggests that you might want to “interview” a group of people face to face, people who you believe your film was “made for.” It even gives you the questions you need to ask these people. Ask them where they get their news, what music they listen to, what blogs they read, what organizations they belong to, where they spend their free time.

Fiscal and corporate sponsors want to know details about the audience apart from simple demographics. People of the same age, gender, ethnic background, social class, etc., may not necessarily have the same tastes. Seed & Spark gives the hilarious example of two different people from the same demographic. Both people were born in 1948, grew up in England, married twice, have two children, are successful in business, are wealthy, spend their winter holidays in the Alps, and like dogs. But one is Prince Charles and the other Ozzy Osborne! Obviously men with different tastes and proclivities!

So beware the demographic trap. Instead be able to zero in on the specific kinds of things your audience reverberates with (discovered through those interviews: music, themes, platforms, etc.) and be able to wax lyrical about them. Fiscal and corporate sponsors will be impressed by your ability to market your film, your hard work, and ability to deliver the goods and that will make them eager to contribute to your project.

Crowdfunding Platforms

Once you’ve found your audience, you’re ready to engage crowdfunding platforms. There are over 400 of them and so you need to really research which ones are right for you. You might want to check out Hivewire.ca, a site specifically geared to explaining crowdfunding.

Keep in mind that all crowdfunding sites take a percentage of funds raised and charge a percentage for credit card contributions. Kickstarter, for example, is a creative and artistic, all-or-nothing site. If you don’t get all the money you request, you get nothing! It claims that over 44 percent of projects on this site are successful, and they charge 5 percent plus a 3 to 5 percent processing fee.

Indigogo allows funding for every type of project, and according to Hivewire, 28 percent of their projects are successful. They have a fixed 4 percent fee plus 3 to 5 percent for processing. That means they take 4 percent if you reach your goal (with a 3 to 5 percent processing fee) and 9 percent if you do not reach it (plus a 3 to 5 percent processing fee), but you get to keep the rest of the money.

Seed & Spark is only for film. Only when you reach 80 percent of your goal do you get the money. They charge 5 percent (plus a 3 percent processing fee), but offer contributors a chance to pay the processing fee on behalf of the filmmaker.

It’s your job to check out all the sites and their terms and choose the one that fits with you and your project. Each site has specific guidelines you’re going to need to follow, and only you know what you’re willing to do. It’s a big job, but it’s what you need to raise the money to fund your project.

Once you commit to your crowdfunding site, you will have to make a pitch video (various sites offer instructions on what to include in this), you’ll have to cold call sponsors, and you’ll have to network like crazy, but it’s all part of getting your film out there. In fact, the process is so involved that a whole other book could be dedicated to it. But that’s not the substance of this particular book. The aim here is just to get you introduced to the process and to encourage you to enter it, realizing it’s a necessary step to get your script into production.

Don’t allow yourself to be shy, daunted, or overwhelmed. Team up with people who can help you get over your deficiencies. Get a good producer. Take one step at a time. Make sure that you have an attorney on board who can help with all the legal documentation. Get accounting and tax advice. If you don’t have the money to do these things, try some low-cost options: friends of the family, LegalZoom, college interns—be creative. But most of all, have confidence in yourself and your project and be able to transmit your excitement about it. People love enthusiasm and the opportunity to help someone fulfill a dream. It’s up to you to make sure that dream is engaging, meaningful, and viable and that you come across as a competent, energetic mega-talent people will want to work with.

Reference

Seed&Spark (2016). “Crowdfunding for Independence.” www.Seedandspark.com/education/crowdfunding.