BY BOB LABATE
Independent film production is full of myths—some based in reality and some imagined—all supporting the conclusion that the odds are stacked against a talented but poor independent film producer. While the odds are against anyone—rich or poor—attempting to produce a commercially viable independent film, the battle certainly is not hopeless provided that the producer knows the business of indie film, has (or creates) necessary relationships and is truly talented and surrounds herself with talented people. So let’s take a look at a few of the more well known myths.
Talent First or Money First
The aspirations of many beginning producers of indie film are daunted by the apparent paradox which we’ll refer to as “money or talent first.” The concern is generally expressed this way: “I can’t raise the money I need unless I attach name talent, but I can’t attach name talent unless I have money to pay for the attachment.” Like most fears, there is an underlying kernel of truth because investors and distributors are far more likely to support projects to which name talent is attached. But attaching name talent is not simply a question of cost. In fact, the script is far more important to attaching talent (and to predicting success for the project) than wads of cash.
The truth is that generally neither talent nor money are as important as having a great script, which should be the first priority of any indie production. Actors and directors receive lots of mediocre scripts, and a great one will stand out. A project based on a great script is more likely to draw expressions of interest and on-going cooperation from “above the line” professionals than a project based largely on cash. Don’t get me wrong, cash will attract talent, but creating a great script is a far more cost-efficient use of your money, and attaching a known writer will also bring “back-door” introductions to the talent you want. But even without a known writer, a great script will get noticed.
Also, be sure to consider whether your project is appropriate given the direction of such actor or director’s career. Does your project offer the actor or director an opportunity to break out of a typecast rut or to expand themselves creatively? Or perhaps it would be a welcome change of pace that will give the actor or director experience with a new film genre? There’s lots of homework to be done so never send a script or synopsis cold in the hope that it will be picked up and read—it won’t.
Linear Film Production
Anyone who has been to one of my IFP/Columbia College/CAVA seminars has heard me speak about the “arc” of indie film production. By this I mean that most indie film production involves the following six elements: (i) formation of appropriate corporate/LLC film entities; (ii) film financing; (iii) acquisition of script, music and other intellectual property rights and licenses; (iv) negotiation of talent, crew and other film professional agreements; (v) principal production and post-production editing; and (vi) distribution.
While this sounds like a tidy package, producing an indie film is anything but linear and many of these elements must be assembled simultaneously. Money is being raised while the script is being honed and relationships are being forged with desired film professionals (lawyers, accountants, talent, crew, funders, etc.) who will make this project a reality. Concern about distribution is often an afterthought while the film is being assembled. Or, if distribution is considered, it is assumed that the film will be picked up by a distributor at a film festival.
This is a huge mistake because distributors attend very few films festivals and even those film festivals known as showcases for distribution (such as Toronto or Sundance) result in very few offers. Not surprisingly, it is not the flash of inspiration, but the many months and years of careful preparation that lead to a distribution deal. and more often than not, the deal was cobbled together by an executive producer or producer’s rep who developed and implemented the successful distribution strategy.
Thus, your distribution strategy should be developed at the beginning of your production, soon after you have created a respectable version of your script. The project should be discussed with a seasoned and successful producer’s rep whose advice and guidance will help to mold the project into a commercially viable film. Where you intend to market your film and in what media you intend to exhibit (theatrical, DVD, cable) are questions that should be addressed before you sign a single talent contract.
Short vs. Feature
There is a perception that producers “graduate” from shorts to feature films, and that short films are useful largely to develop the skills needed to attempt a feature film. There also is a perception that the first $10,000 or $15,000 raised towards a feature film should be spent on obtaining essential equipment, production documents, literary rights options and attracting (if not attaching) talent and crew. While I would not discourage feature film producers from assembling their essential production materials, two priorities are often overlooked: developing a first-class script and producing a short for potential investors. The importance of a first-class script I’ve discussed above, so let’s talk about preparing a short.
Indie film is a lousy investment. Yet, young producers often believe they can convince sophisticated investors that significant returns on investment are possible so long as the film costs $500,000 or less. Perhaps, but my experience is that investors provide money to an indie project because they believe in the potential of the producer or her project, not because they expect wealth beyond avarice. And the best way to demonstrate the producer’s capabilities and vision is to prepare a short (or trailer) that conveys the visual essence of the film.
A short is relatively inexpensive, allows you to grapple with your project in bite-size form and provides you with the a sales tool that is immeasurably more effective than a business plan and a synopsis. Obviously, you cannot solicit funds for your film without preparing proper securities documents (so don’t try it), but getting noticed with a short film is often the first step to reaching and motivating those individuals who will support you and your project through the long months, if not years, of production.
©2004 Robert J. Labate. This column is provided as a source of information and is not to be construed as legal advice or opinion. You may contact me via e-mail at robert.labate@hklaw.com or via mail to Bob Labate at Holland & Knight LLP, 131 South Dearborn Street, Suite 3000, Chicago, Illinois 60603, 312/263-3600.