WHAT IS THE FILM FINANCE WORLD LIKE TO WORK IN? (In the Entertainment industry.)

Film Investment Banner / Photo Credit: Flash Frame Visuals Academy

WHAT IS THE FILM FINANCE WORLD LIKE TO WORK IN? (In the Entertainment industry.)

Bruce Bisbey…please follow me at: https://dumbdogproductionsllc.blogspot.com or https://www.facebook.com/DumbDogProductionsLLC/ thank you.

WHAT IS THE FILM FINANCE WORLD LIKE TO WORK IN?

A sought after and busy film finance company is never a quiet place to work. With film markets and festivals held every few months all over the world and development teams looking for funds, the junior member of the team will always be busy on some level.

Try and manage your time the best you can, and never to say you can’t do something or are too busy. It’s much better to be diplomatic and let them know you can do it, but not until you have finished the task you have been set by another member of the team.

Most film finance companies are small by nature, so the personality of the team will shape the environment of the office. That said, most people working in film finance are doing so because they love film. The pay certainly doesn’t compete with other “drier” finance jobs, so it tends to be a much more laid back atmosphere than banks or other financial institutions. 

Interpersonal relationships are important in all small teams, and most film financiers are small by nature, so expect to be a part of out-of-office activities, social engagements and possibly client marketing.

The majority of independent films rely on a mixture of finance to get a film made. No two scenarios for financing will ever be the same, and there is no definitive way of getting a film funded. In short, it’s complicated. The struggle to find funding in today's financial marketplace is ever more competitive, and the odds of reaching the required sum to move into production can be slim. The process requires cool, logical people with good business acumen to help producers navigate a startling array of options; this is where a film finance company can help.

Film finance companies work with producers, investors and financial institutions (such as banks) to pull together the right sum and correct structure of money to move the film out of development and into pre-production. The mixture or breakdown of money with which a film is financed is often referred to as the films finance plan.

Some film finance companies have access to their own capital and can lend or invest directly into a project, while others may approach a bank with a package in hand in the hope of accessing that particular institution's funds. However, regardless of where the capital is sourced, finance companies will often demand to be the first, or one of the first, to recoup money from the film’s success.

There are various sources and types of capital available when piecing together a films finance plan. Some such options are: 

• Pre-sales with foreign and domestic distributors…
• Tax credits from both home and abroad…
• Loans…
• Grants…
• Minimum Guarantees for distribution deals (theatrical and home entertainment)…
• Equity from private investors (or private institutions)…
• National TV broadcast deals…
• Crowdfunding (less the financiers more the filmmakers)…
• Post-Equity deals… 

Producers need to make sure they have the best script, director and talent in place before they enter the funding marketplace. They create a pitch package which is fundamental as it collates key information for investors. The better the ‘pitch’ and preparation, the more likely a project is to attract interest; especially if you have unique above the line selling points. The process can be lengthy, with many projects unable to find funding. Putting together the package is the responsibility of the producer and production company and should include: 

• The films proposed finance plan…
• An investment proposal, clearly laying out the terms and conditions of the investment or financing required…
• A treatment of the script, which can be anywhere between a page to a more detailed ten-page document…
• A copy of the rights to the story, all options and acquisitions agreements…
• An investment proposal, clearly laying out the terms and conditions of the investment…
• Comparable box office returns on films of a similar genre or tone…
• Market research on current trends, with emphasis on work that has just gone into production… 
• Talent attached to the project. The director and cast are the primary selling points, as would be the screenwriter if they are well known in the industry. A letter of interest from all parties is a good indicator to investors that securing the talent is possible. Any crew agreements that are set…
• Revenue projections… 

Any examples of press coverage the company have managed to generate, which would include any marketing materials they have commissioned such as posters…

A degree in business, finance, law or management would be advantageous. Although this career option functions heavily within the business side of the industry, a degree is often used as an indicator that you have the required analytical and cognitive skills, so if your resume/CV can demonstrate the relevant skills needed at A-level you may get through to an interview. If you have a degree in film all is not lost, but you will need to make sure you have some good A-levels to back up your claims of astute financial savvy. Experience is always prized most in the industry, so if you find you are not getting very far with your resume find those all-important intern positions to help weight your resume.

To work as a finance assistant or office assistant exceptional administrative skills would be advantageous, as would the ability to speak another language. Most film financing companies will have a strong presence abroad, with funding opportunities in place from all over the world. An intern or office assistant who can make travel, accommodation and booking arrangements in another country has a useful skill set that potential employers will be keen to utilize. Ultimately filmmaking and funding generate significant amounts of paperwork, so a secret love of a good filing system can see you go far.

Sources, References & Credits: Google, Wikipedia, Wikihow, WikiBooks, Pinterest, IMDB, Linked In, Indie Wire, Film Making Stuff, Hiive, Film Daily, New York Film Academy, The Balance, Careers Hub, The Numbers, Film Maker, TV Guide Magazine, Blurb, Media Match, Quora, Creative Skill Set, Chron, Investopedia, Variety, No Film School, How Stuff Works, WGA, BBC, Daily Variety, The Film Agency, Best Sample Resume, How Stuff Works, Bright Hub, Career Trend, Producer's Code of Credits, Truity, Production Hub, Producers Guild of America, Film Connection, Variety, Wolf Crow, Get In Media, Production Beast, Sony Pictures, Warner Bros, UCAS, Frankenbite, Realty 101, Liberty Me, Careers Hub, Sokanu, Raindance, Film Connection, My Job Search, Prospects, David Mullich, Video University,

THIS ARTICLE IS FOR INFORMATIONAL PURPOSES ONLY. THE INFORMATION IS PROVIDED "AS IS" AND BRUCE BISBEY MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES, INCLUDING WARRANTIES OF PERFORMANCE, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE, REGARDING THIS INFORMATION. BRUCE BISBEY DOES NOT GUARANTEE THE COMPLETENESS, ACCURACY OR TIMELINESS OF THIS INFORMATION. YOUR USE OF THIS INFORMATION IS AT YOUR OWN RISK. YOU ASSUME FULL RESPONSIBILITY AND RISK OF LOSS RESULTING FROM THE USE OF THIS INFORMATION. BRUCE BISBEY WILL NOT BE LIABLE FOR ANY DIRECT, SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OR ANY OTHER DAMAGES WHATSOEVER, WHETHER IN AN ACTION BASED UPON A STATUTE, CONTRACT, TORT (INCLUDING, WITHOUT LIMITATION NEGLIGENCE) OR OTHERWISE, RELATING TO THE USE OF THIS INFORMATION.

Film Investment Banner / Photo Credit: Flash Frame Visuals Academy