A Guide to Funding Your Film: How Development Works in Film
Introduction: The Magic of Movie-Making
Have you ever wondered how a movie goes from a simple idea to a blockbuster on the big screen? As the legendary Tom Hanks once said, “No one knows how a movie is made, though everyone thinks they do.” The journey from concept to cinema is nothing short of miraculous, and it all begins with a crucial phase known as development.
In this comprehensive guide, we’ll pull back the curtain on the film development process, exploring how filmmakers transform their creative visions into reality through funding and production. Whether you’re an aspiring filmmaker, a movie buff, or just curious about the inner workings of Hollywood, this article will give you an insider’s look at how the magic happens.
The Evolution of Film Development
The Studio System: Hollywood’s Golden Age
To understand how films are developed today, we need to take a quick trip down memory lane. During the 1930s and 1940s, at the height of the studio system, movie-making was a well-oiled machine. Studios operated like factories, with all creatives – from writers to actors – under their employment. Executives would assign projects, and films were churned out in an assembly-line fashion.
The Package Unit System: A New Era of Creativity
As the studio system began to crumble, a new approach emerged: the Package Unit System. This method, which continues to dominate the American film industry today, gives more power to producers. Instead of relying on studio resources, producers now assemble a “package” of elements to secure funding for their projects.
A typical package might include:
- A compelling script
- A piece of valuable intellectual property (IP)
- A popular movie star
- A talented director
While this system offers more creative freedom, it also presents new challenges. As producer Steve Golin explains, “If you have a good piece of material, and you get the right filmmaker, you will attract a good cast. Good directors get good cast, but good material gets good directors.”
The Art of Packaging: Building Your Film’s Foundation
Starting with a Script
One common starting point for a film package is a spec script – a screenplay written on speculation, without any guarantees of payment or production. These scripts might catch a producer’s attention through various channels:
- Writer’s agents or managers
- Film festivals
- Screenplay competitions
- The Black List (an annual survey of the “most liked” unmade scripts)
Take “The Wrestler,” for example. This critically acclaimed film began as a spec script by first-time screenwriter Robert Siegel. After landing on the Black List, it caught the eye of Darren Aronofsky’s production company, Protozoa Pictures.
The Power of IP: Turning Popular Properties into Films
Another popular approach to packaging is securing the rights to existing intellectual property. This could be a bestselling book, a hit video game, or even a beloved toy (hello, “Barbie”!). IP-based projects often have an easier time finding funding because they come with a built-in audience and proven popularity.
Producer Alex Saks shares her experience with IP: “It can unfold in a million different ways, but it always has to do with identifying the material, going to the representative, and starting a negotiation.” Some creators are heavily involved in the adaptation process, while others are happy to hand over the reins (and cash the check).
Star Power: Attaching Big Names
Nothing adds sparkle to a package quite like a high-profile actor or director. These attachments can make a project more enticing to investors and increase its overall value. As Alex Saks explains, “I like to package movies before I take them out to the market. It just gives us more leverage.”
Sometimes, a single name can be enough to get a project off the ground. Martin Scorsese credits Robert De Niro’s involvement as crucial to securing funding for “Taxi Driver.” Fresh off his Oscar win for “The Godfather Part II,” De Niro’s star power, combined with Scorsese’s rising reputation, created an irresistible package for investors.
Show Me the Money: Financing Your Film
Once you’ve assembled your package, it’s time to tackle the all-important question: how do you pay for it all? Film financing methods generally fall into two categories: studio financing and independent financing.
Studio Financing: Big Budgets and Blockbusters
Studios have more established routes to funding, thanks to their track record of producing profitable films. Some common studio financing methods include:
- Pre-sales: Licensing distribution rights to different territories before the film is made.
- Gap financing: Loans based on a film’s unsold rights.
- Negative pickup: A studio agrees to buy the completed film for a set price.
- Slate financing: Investment in a group of films to spread out risk.
- Co-production: Multiple studios team up to finance a film and share the rights.
- Product placement: Brands pay to have their products featured in the film.
- Military Entertainment Complex: Collaboration with the U.S. Department of Defense for action movies.
Independent Financing: Getting Scrappy
For independent filmmakers, the funding journey can be more challenging and creative. Some approaches include:
- Crowdfunding: Platforms like Kickstarter have helped films like “The Babadook” secure additional funds.
- Private investors: The Coen Brothers famously funded “Blood Simple” by showing a trailer to potential investors.
- Grants: Non-profit organizations and government bodies often offer filmmaking grants.
- Film festivals: Networking opportunities and potential funding sources.
- Private equity firms: High-risk investments in promising projects.
- Bridge financing: Short-term loans to secure key attachments.
- Self-financing: Risky but sometimes necessary (just ask Kevin Smith about “Clerks”).
- Deferred compensation: Cast and crew agree to back-end points instead of upfront payment.
- Tax incentives: Choosing filming locations based on available tax breaks.
The Development Process: From Idea to Green Light
Now that we’ve covered the basics of packaging and financing, let’s walk through the typical development process:
- Idea generation: This could be an original concept, a book adaptation, or even a toy franchise (looking at you, “Transformers”).
- Scripting: Whether it’s a spec script or a commissioned screenplay, this is where the story takes shape.
- Packaging: Assembling the key elements (script, talent, IP) to make the project attractive to investors.
- Pitching: Creating a compelling presentation to sell the idea to studios or investors.
- Financing: Securing the necessary funds through one or more of the methods discussed earlier.
- Green light: The magical moment when a studio or production company agrees to make the film.
Remember, even after getting the green light, a project can still face hurdles. It might be put into turnaround (halted and potentially sold to another studio) or languish in “development hell” for years. But don’t lose hope! Films like “Dallas Buyers Club” and “Mad Max: Fury Road” spent years in development before becoming critical and commercial successes.
Conclusion: Lights, Camera, Action!
The development process in filmmaking is a complex dance of creativity, business savvy, and sometimes sheer persistence. It can be filled with rejections, delays, and frustrations, even for the most successful filmmakers. But with a clear vision, a compelling package, and some financial ingenuity, anything is possible.
As you embark on your own filmmaking journey, remember that every blockbuster started as a simple idea. Whether you’re writing your first script, assembling your dream cast, or pitching to investors, keep pushing forward. Who knows? Your green light might be just around the corner.
So grab your metaphorical director’s chair, and start developing your cinematic masterpiece. As they say in the biz, “Lights, camera, action!”