Our 11th Annual Film/TV Production & Finance Summit has concluded and we wanted to thank everyone who attended our event on Monday, March 12th at the Luxe Sunset Blvd. Hotel in Los Angeles.
Some key take aways from the event are that technology has taken over the space on how filmmakers can get their productions made, viewed and marketed to an audience, and build a fan base for the type of genre the film is geared towards. The next generation will certainly use on the demand to view content over portable devices over any other option. Subscriber based services, such as Netflix, Hulu, Amazon, Apple, will certainly be funding many major motion pictures and television series in the future with a theatrical release being less important over the subscriber based services. As with so many other industries, the on demand industry, will be the future for theatrical or entertainment content.
Staying with this theme of independent services providers will be the wave of low-budget independent films proven by the list of movies nominated by the 90th Academy Awards this year. There are independent financiers, wealthy individuals, interested in funding a film and it is possible to raise all the money necessary for a low budget film through these wealthy individuals if they are intrigued by the script. One of our panelists has recently completed a film all the funds coming from private funds.
Tax incentives still play a major role in movie “soft money” for tax credits and rebates. Where you shoot your film is important to location scouting, banks, access to production crews and talent. Make sure you consult with an experienced tax credit company who can assist with location and the best possible incentives available for filming.
Remember that it’s extremely important to involve an experienced entertainment attorney to clear chain of title for any film production and also make sure you have a production accountant involved in your budget planning. Having these two professionals, has been and always will be key, to helping with budget planning, licensing, clearances, and any other obstacles you can encounter on a film or television production. Happy Storytelling! We hope to meet you at our next event!