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Film Financing Information provided by Sharp Angle @filmbiz101.com

Tax Incentives Brings Film Revenue to Spokane

It’s not Hollywood, but Spokane, Washington has a film industry that is certainly helping to spark the economic life of the city. Filmmakers in the area will often spend 85% of their budget locally, and when the budgets reach $5M dollars that can be a significant amount of money.

How does it work? As one local producer notes:

[we] wouldn’t be able to land clients without funding from WashingtonFilmWorks, a Seattle-based nonprofit that administers funds from the Motion Picture Competitiveness Program, which was created by the Washington Legislature in 2006. The funds cover up to 20 percent of production companies’ in-state expenditures, up to $1 million per project, its Web site says. WashingtonFilmWorks can collect up to $3.5 million in funds a year, which it obtains from businesses that count their contributions as a credit against their business-and-occupation tax payments.

Legislators created the competitiveness program to help the state’s film and video industry compete with other states and Canada, many of which provide some form of tax relief for film producers. In the winter of 2007, North by Northwest became the program’s first funding recipient, for its movie, “The Holidays.” Since then, the company has received assistance for five more films, including “Norman.” For those movies, it has spent roughly $7.6 million within the state, and has received nearly $2.9 million in funding assistance, according to a project summary report by WashingtonFilmWorks. One of its upcoming films, “LadyKiller,” which also will be shot here, has been approved to receive roughly $324,000 in funds.

Food, lodging, and transportation are some of the basic industries that get a lift from Spokane film companies such as North by Northwest Productions. However, other less predictable industries, such as office supply, and hardware and lumber vendors have also gotten a boost from local production.

Tax legislation in Washington, which favors filmmakers, is also a bonus. There is also a blend of rural and urban areas, and the general consensus that Spokane is in general a nice place to film, and to live in.

Read the full article at the Spokane Journal:http://www.spokanejournal.com/spokane_id=article⊂=3618

Top 5 Most Common Ways to Finance Your Film (Part II)

Continuing our description of forms of film financing, we now examine Independent Distributor Financing and Talent Agency Financing. Based on “How to Fund Your Film” by Robert C. DiGregorio, Jr. imageMATTE Executive Producer

Part II:

Independent Distributor Financing is a more co-dependent form of financing. Because these distributors are not affiliated with a major studio, when submitting a project to them, one must already have some form of financing available and be ready to take on principle photography. The benefit to independent distributors is that both parties are coming from the same level, so the negotiation of a better deal is significantly easier. And, there is a higher chance of receiving a larger portion of net profit.

Talent Agency Financing is using a talent agency to gain the resources needed to finance a project. A clear advantage is that there is clear access to actors, directors, and even a distributor. So while the financial means might be pulled from the talent agency’s own variety of resources, the one-stop shopping aspect might streamline the entire process.

Contributed by Christina Chen,
UC Berkeley student

Financing Your Film Through The Internet?

Here’s a blog post that suggests a few different options for financing films at least partially through internet sites: http://cinematech.blogspot.com/2008/04/internet-film-financing-evaluating.html

Here’s a short description of the three sites mentioned:

IndieGoGo : Free, but they take a cut once the target goal is reached.

ArtistShare : So far mainly used by musicians, but at least one filmmaker has used it. Set-up fee and monthly fee.

IndieMaverick : Offers investors a profit if the film does well. The filmmakers also must agree to agree to split any profits with IndieMaverick investors, 30/70.

All the sites are in the preliminary  stages of development and are open to all filmmakers.  Please post comments if you have direct experience with any of these sites.

Written by Lena McCauley, Wellesley College student

How To Promote Your Film Online

Here are some online and social network film marketing tactics that we think are very effective. It may help you and your team generate some additional marketing ideas.

Darfur Now Documentary
From Participant Productions:
http://prod.takepart.com/social_network/action/darfurnow/

Wal Mart Movie
This is Robert Greenwald’s film:
http://www.walmartmovie.com/

Four Eyed Monsters
Check out this post on our blog:
Four Eyed Monsters

MySpace examples
http://www.myspace.com/aninconvenienttruth?
http://www.myspace.com/climatecrisis

Facebook examples
http://www.facebook.com/pages/This-Darling-Life/14420535055

YouTube examples
http://www.youtube.com/profile?user=oxfamamerica
http://www.youtube.com/profile?user=milotube

Best of luck with your outreach efforts!

Top Five Most Common Ways to Finance Your Film (Part I)

First in a series of posts dedicated to describing the most common forms of film financing. Based on “How to Fund Your Film” by Robert C. DiGregorio, Jr. imageMATTE Executive Producer

Part I:

Soon after an idea for a project first comes to you, start thinking about distribution for the final film. Your hopes for distribution (film festivals, in theaters, television, DVD, online, cable/satellite, etc.) will shape where and how you seek funding. In addition to the distribution platforms, the next step is to consider the range of potential distributors. These options may range from major studios, to independent studios, television stations or cable networks.

The most common type of film funding is industry financing. This umbrella term can include several potential sources. Studio Development Production Deals are in-house studio production financing. A studio creative executive approves your pitch and then thus begins the long road towards production.

The studio production deal is a vanishing breed and almost impossible for first-time filmmakers to obtain. However, several of the indie film divisions of the major studios are on the lookout for new talent. They sponsor contests, screening programs, and workshops or labs. For example, take a look at Searchlab from Fox Searchlight.

Contributed by Christina Chen,
UC Berkeley student

It’s All About the Packaging for Short Film Funding (Part II)

An occasional series of posts that will discuss the extensive process of putting together a grant application.

Part II:

When putting together your grant application, the two largest components are the script and the budget. However, the other supporting items can also make or break it.

The synopsis should be brief yet descriptive, and in principle, should reflect the essence of the work. This is one of your tools to encourage the reader to accept your grant proposal. Also, in terms of the biography, it should essentially be a tailored resume that includes anything relevant from college coursework to previous work experiences with film.

Your entire grant application should be a well-crafted piece of artwork in and of itself. Straddling the line between a lack of relevant information that could potentially sway the reader, and an overwhelming deluge of relevant but useless facts, is the key to receiving the grant.

Get more specific details from the following link:
http://2billiondesirables.multiply.com/journal/item/2

Contributed by Christina Chen,
UC Berkeley student

Successful Child Actress: Keke Palmer

by Toni Casala

Born Lauren Keyana Palmer, you may remember Keke from her performance in the critically acclaimed, award-winning film Akeelah and the Bee, but Keke was far from wet behind the ears when she starred in her role as Akeelah Anderson.

Keke PalmerAs a small child growing up in Robbins, Illinois, Keke showed her parents Laurence and Sharon Palmer that her performance skills packed a lot of power when she belted out “Jesus Loves Me” in her church choir.

In their home recording studio, Keke’s mother Sharon helped Keke harness her vocal abilities, and both parents were dedicated to taking her on auditions and helping her to perfect her acting skills. In 2004 Keke landed her first big role in Barbershop 2: Back in Business playing the part of Queen Latifah’s niece. At this point, it was more than apparent that Keke had star-potential, so the family left behind their newly purchased home and their secure jobs to head to California.

Keke’s accomplished resume includes a role on the CBS series Cold Case, a national K-Mart commercial, and even a Screen Actors Guild Award nomination for her role in Wool Cap. She is currently the youngest actress to ever receive a nomination in a Lead Actress category. She has also won the 2007 NAACP Image Award for Outstanding Actress in a Motion Picture for her role in Akeelah and the Bee. She also co-starred in the highly-rated Disney Channel Original movie Jump In.

Though her acting career has blossomed, Keke considers music her first love and has signed with Atlantic Records. Her newest album “So Uncool” includes an ode to her Chicago roots. The Palmer’s decision to leave the Chicago area in pursuit of Keke’s dreams turned out to be a good one, but they were definitely challenging times.

In his interview with Children In Film, Laurence Palmer talks about the challenges of being a Power Parent.

[Read more]

New York Triples Film Tax Incentives… Finally!

Earlier this month the State of New York put the finishing touches on its new tax credit plan:

NY To Triple Tax Break For Filmmakers

The expanded tax credit comes during tough fiscal times with the hope it will bolster a business Paterson said generates billions of dollars of economic activity in New York each year.

The change will give film companies a 30 percent tax credit — up from 10 percent — for qualified production costs and extend the program from 2011 to 2013.

Here is the summary from WNBC

Times Square

NY Times Square

New York’s Governor Paterson said in the official press release:

“It is vital to our state’s economy that New York remains a premier destination for film and television productions,” said Governor Paterson. “The entertainment industry plays an important role in fostering economic growth by promoting our state on movie and television screens across the world, and creating thousands of jobs for New Yorkers.”

Wall St.

Wall St.
Mayor Michael R. Bloomberg said: “Film and television play a major role in New York City’s place as a world-class center for culture, and the industry’s continued growth will play an important role in our efforts to diversify the economy. The expansion of the Empire State film production tax credit program is good news for New York City, and I thank Governor Paterson for signing it into effect.”

Content @ CES - 2008 in Las Vegas

The International Consumer Electronics Show has a special focus on content this year:

Content

Today’s world is a digital one, where content progressively drives consumer technology sales. Music, movies, games. Text, audio files, pictures. Content is any sound or image delivered to an audience through a CE product. It’s at the heart of consumer technology, and CES is at the heart of it all. Content is everywhere at CES. It spans all consumer technology markets, every product, each part of the show floor. Experience the art of content at CES.

Find out what is happening at this year’s show: http://cesweb.org/attendees/markets/content.asp

The show also features the latest installment of Digital Hollywood, seminars on the latest in digital entertainment.

Digital Hollywood

Revolution. Redefinition. Refocus. Those are the themes of this year’s Digital Hollywood sessions, where we’ll examine how the “three Rs” are affecting content, entertainment, social networking, product innovations, the digital home, consumer perceptions and market forces. These are some of the most popular sessions at CES, because they’re jam-packed with up-to-the-second information, insights and predictions. Sign up now before space is gone! Take advantage of the CES Ultimate Pass for a guaranteed seat at every session.

It is not too late to register: Digital Hollywood details.

If you are interested in Children’s toys & entertainment, this free conference at CES also looks extremely interesting:


 

The Sandbox Summit: A Playdate with Technology

Had enough of the grownup CES stuff? Jump into the world of digital kids at the Sandbox Summit. Kick off the morning at the complimentary power breakfast, where we start th conversaion. Get a handle on the toys, trends and products that are shaping the way kids play today. Join the PLAYOFFS, where digital natives go head to head; then move on to the Sands’ exhibition to test drive the gear that’s defining the next generation.For more information please visit www.SandboxSummit.org.

Highlights from the AFM Film Financing Conference

Great post on Johanna Blakley’s blog over at the Norman Lear Center. She provides an account of the recent AFM Film Financing Conference held in Santa Monica. Some interesting insights into film funding trends:

How do you convince a financer that you’ve got a marketable film?
Once again, financers could care less who’s directing. The real gatekeeper in this business is . . . get this: the sales agent. If you’re a new filmmaker and a credible sales agent has decided to hawk your film, the financing is yours.

Isn’t it hard to get a film financed these days? Why, no! There’s so much “dumb money” out there (read: hedge funds) that the barriers to entry are lower than ever. This may come as a surprise to every indy filmmaking friend you have; their problem is that they probably haven’t made an expensive enough movie. Got a film under a million? Ask grandpa to fund it. Got a film over $10 million? Now you’re talking.

What genres of movies are the easiest to presell (i.e., to sell the rights before the film is made)? According to Nu Image CFO Trevor Short, generally action movies and thrillers are the best bets. Comedy and drama are tough because the quality of the film depends on (get this) the execution.

Get the full story

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