There is more to film making than most students appreciate. Although it’s tempting to concentrate on the actual film making process, students must have a business brain too.
Unless they can make a commercial profit from their creativity, they will not be able to make any more films. Here are some top tips to consider when combining your love of films with business. If you are good at both marketing, and film making, then you will generate greater revenue.
1) Always remember film making is about being creative.
WHO IS DOING THE MARKETING?
2) Marketing your film from the point of creativity is key here. If you can’t explain to your friends and family, why they should go and see your film, then how will you expect the man or woman in the street too?.The marketing should be done involving everyone in your film. Getting everyone on board and singing from the same song sheet will improve profitability of your film.
3) You must ensure the pitch you make to gain funding for your film includes a business plan which should have all the necessary ticked boxes, including:
a) Budget – what has been the cost to make the film? What’s the projected profit?
b) Audience – what’s your target market?
c) Genre and appeal of your film – Will it appeal?
You must be thinking about these, when pitching to a potential buyer, investor or distributor.
RETURN ON INVESTMENT
You need to think MONEY here. You need to understand how to maximise profits, in order to be able to reel in investors. They will be expecting a large slice of the profits, if they jump on board. Therefore, you need to be a good negotiator with people.
4) Can you produce products that will generate royalties? If your film is commercially viable, you will receive royalty cheques long after the film has hit the box office, so you have to think beyond the box office, and onto the smaller screen. Films like STAR WARS, have become big business for reasons other than just the film. Toys, T-Shirts, are all ways of making people return to watch the film, as well as attract new movie-watchers This marketing can help you produce new work.
CHOOSING WHAT GENRE SUITS YOU
5) As Martin Scorsese once said, he didn’t go to film school to learn his art, he went to the movie theatre. His genre was the Italian American gangster genre, and he does it well. You should pick a genre that you enjoy, and work in perfecting your art there. once you have gained experience, you can then venture into other genres.
Your costs should be much lower than what you expect to receive from sales. Low production budgets and low marketing costs are key.. Also, you should have multiple revenue streams so that you can generate greater profits.