Updated: Apr 10, 2021
As independent filmmakers, we often decry the major studios' penchant for tentpole films and their continued exploitation of film franchises. Many of us see it as a cookie-cutter formula devoid of innovation and absent the real voices of the community at large. But the truth is that the major studios are doing one basic thing that many independent films don't: They make movies that people want.
The independent film game is chock full of creatives who make films that are an extension of their own unique views on the world. There is nothing inherently wrong with this approach when creating film for the sake of making art or making a statement, but it doesn't quite pan out when creating film to make a profit.
The major studios and highly successful independent filmmakers understand that people seek out and buy content that is an extension of their own personalities. Just as social media marketing pushes content to us based on an aggregation of our personal preferences, successful filmmakers push content to their audiences based on a verifiable set of interests and desires.
Take a look at the theatrical content that dominated the scene in 2019. Action and Adventure movies took 60% of the market share. Why? Because these movies provided content that was based on strong preexisting brand recognition and a demonstrable appetite for more of the same. The major studios are doubling down on what they know people want and, from a business standpoint, this makes absolute sense.
So where does this leave the independent filmmaker? Well, as an indie filmmaker, you should be doing the exact same thing. We get that you can't do it on the same level as the major studios. You can't afford to buy up highly-valuable intellectual property and forge partnerships with highly sought-after brands. But what you can do is ask your audience what they want.
It's that simple. Think of it this way: Have you ever planned to prepare dinner for someone? A family member. A date. A friend. What is the first thing you ask them? "What do you want for dinner?" And why do you ask them this? Because you want to be sure to serve them something they want to eat. Then why not do this with filmmaking?
As an indie filmmaker, your most valuable asset isn't your creative mind nor is it your ability to bring a project to life. You most valuable asset is the audience for whom you're making content. They are the ones who can make or break your career so they are the ones who should be guiding it. Before you put pen to paper or move from paper to production, engage the communities your art is intended to serve and find out what they like, what they dislike, what they want, and what they need. When you understand your audience, you'll know exactly how to feed them.
There are a number of ways to engage your target audience. For example, you can leverage polling on social media to target specific people or communities to inquire about their interests. You can build a crowdfunding campaign and promote it to your target audience to see if they bite. You can run A/B split tests of sample content to gauge audience reaction to your concept. You can send a draft title and synopsis to your friends and ask them if they'd watch the movie based on the description alone.
The fifth of the 7 Habits of Highly Effective People by Stephen R. Covey is "Seek first to understand, then to be understood." As the text suggests, you should "use empathetic listening to genuinely understand a person, which compels them to reciprocate the listening and take an open mind to be influenced by you." By listening and engaging with a goal of understanding your audience, they will be more compelled to listen to what you have to say and to consume what you create.
So, the next time you set out to write or create something new, find out if there's an appetite for it. The hungrier the audience, the better!
As always,
Be Better. Be Creative. Be Engaged.
If you're looking for someone to help you on your creative journey, feel free to reach out to us. We'd love to work with you!
Updated: Apr 10, 2021
The vast majority of independent films cannot be monetized in a meaningful way by the filmmakers who bring these projects to life. It's an unfortunate truth, but the truth nonetheless. The business of independent film is built on leveraging small profits from large portfolios of content and exploiting the unexpected profitability of a few industry anomalies.
This model benefits distributors and sales agents who manage these portfolios and aggregate their profits while providing very little tangible benefit to the individual filmmakers whose IP they exploit. So where does that leave the filmmaker who promised a 20% return to a group of investors? It leaves them in the red, needing every itemized penny on their quarterly earnings reports to pay back their investors. It also leaves them with a group of investors who will think twice about "investing" in their next film.
So why continue down this path? Why should independent filmmakers continue to seek investment dollars for projects they'll never afford to recoup? Well, your guess is as good as ours. This is why we're suggesting something different.
Filmmakers don't need investors; they need financiers. They need people to give them money with no expectation of a direct financial return. They need to start out in the black, stay in the black, and eliminate the stress of financial recoupment.
A dreamland, you say? Not at all. Films of all kinds are financed every day by people, organizations, and companies seeking to promote themselves or a cause that's near and dear to their hearts. Just take a look at the work of Gear Seven. This company leverages their own unique creativity and design skills to develop film content to build brand awareness for their clients. Seed&Spark has an ever-growing library of films that, to-date, have achieved over $26M in crowdfunding contributions. The Oscar-winning Hair Love was crowdfunded on Kickstarter, achieving the largest contribution to a short-film in Kickstarter history. The money is out there and people, organizations, and companies are willing to part with it so long as you are willing to help them tell their stories.
Is that so bad? Does it make you any less of a filmmaker to help tell someone else's story? We don't think so. In fact, if you want it to be your story too, then all you have to do is align yourself with financiers who share something in common with you. It could be your love of a popular brand. It could be your concern for a population of people who are underrepresented in media today. It could be your passion for health, food, fitness, fashion, or travel. It could be anything. The key here is to align your creative talents with a community that needs them. Doing so, will get your projects funded and your career as a filmmaker moving in the right direction.
And this brings us to distribution. When your film project is funded and you don't carry the burden of needing to recoup investment funds, distribution is simple. If you own the rights to the film, you'll have a plethora of self-distribution options (both free and paid). If you don't own the rights to the film (as is the case for music videos, commercials, and promotional pieces) then distribution is built into the engagement and is handled by the people paying the bills. Either way, distribution becomes less about contract negotiation and handing over your IP and more about watching your film make it out into the world on its own.
If you're still not convinced, here are a handful of reasons why people would give you money to make a film:
You are educating a community about a topic of particular interest to them
You are educating the world about a community that needs a voice
You are promoting a brand that has something to sell
You are promoting a cause that needs to continue to grow its network of supporters
You are highlighting a culture that is underrepresented
You are highlighting a social injustice as a call to action
You are creating a platform for someone to share their perspective
You are creating a platform for someone to entertain an audience
You are creating a platform for someone to inspire an audience
You are creating a platform for someone to educate an audience
They love you and want to see you succeed
We invite you to explore the possibilities of creating projects that speak louder than your voice alone. There are plenty of financiers out there just waiting to partner with a voice as creative as yours.
As always,
Be Better. Be Creative. Be Engaged.
If you're looking for someone to help you on your creative journey, feel free to reach out to us. We'd love to work with you!
Updated: Apr 10, 2021
In this series, we consider how the four major steps outlined in The 4-Hour Workweek by Tim Ferriss relate to indie filmmakers. In this post, we discuss "Step IV: L is for Liberation".
For the indie filmmaking community, we're going to approach Liberation from a different angle than what you'll find in the 4-Hour Workweek. This is because we're talking to you as filmmakers, not as people trying to find creative ways to minimize the day job to focus on filmmaking (if you want those tips, you definitely need to read Tim Ferriss's book). For this discussion, we're going to focus on how to liberate yourself from outdated and unproductive thinking that may be holding you back.
As Executive and Advisory Producers, we've met with hundreds of filmmakers over the years in a variety of settings. We've witnessed their passion first-hand and have always advocated for their success. But the sad thing is, when we leave those conversations, we're convinced that most of those filmmakers are doomed to fail. Now, this isn't because we think that their work isn't any good, that they don't have talent, or that they won't finish their films; it's because they still believe that the industry is on their side. The truth is: it isn't.
It's not that the industry wants indie filmmakers to fail. It's that the industry isn't betting on your one film's success. There is a harsh reality that indie filmmakers refuse to face and, through our work, we are trying our best to reveal it. Here are a few of those harsh truths:
Film festivals are simply celebrations of filmmaking. They are not a gateway to success no matter how many laurels you may receive. Sales agents and distributors can only leverage laurels from the top ten festivals in the world and, even then, the winning films have to fit into a slate while leveraging branded IP (intellectual property) to make them valuable.
Film distributors deal in slates, not in individual films. The success of a distributor is based on minimal level of effort per film and maximum return per slate. By carrying a large portfolio of films, they are able to aggregate hundreds to thousands of small profits into a significantly high return on investment. In the event that one film is a breakout hit (with no additional investment on their part), their payoff is that much better.
Making a film isn't the end of the road. Sales, marketing, and audience engagement are your responsibility, no one else's. Distributors do not profit by spending money on marketing your film. Their process and their financing simply don't allow it. If you don't take on this responsibility, you'll soon come to feel like a cog in a machine.
Traditional distribution deals don't favor the filmmaker. Minimum guarantees are a thing of the past and exclusive deals are reserved for Hollywood. The top streaming platforms split profits with distributors at an average rate of 60/40 with 60% going to the distributor. The distributor then splits the remaining 60% with you at 50/50 (to include their fees). In the end, you'll receive 50% of 60% which is 30% (not including their fees). The average indie film will be rented far more than it is purchased, with an average rental cost of $5. 30% of $5 is $1.50. Plugged into a simple equation, it would take 100,000 rentals of your film to make $150,000. In a saturated market, 100,000 rentals with no marketing by your distributor is a steep hill to climb so the path to profitability can be extremely long.
We don't say these things to frighten you. In fact, we're saying these things to free you. Once you've taken the blinders off and can see the world for what it is, you can finally chart your own path to success. It's like Neo taking the red pill. Remember, all we're offering is the truth, nothing more.
We hope you take this advice to heart and really begin to consider how you can take control of your own destiny. When it comes down to it, no one else holds your success in their hands unless you give it to them.
As always,
Be Better. Be Creative. Be Engaged.
If you're looking for someone to help you on your creative journey, feel free to reach out to us. We'd love to work with you!