IFP FILMMAKER CONFERENCE
September 19 – 23, 2010 – NYC

Taking place during the 32nd annual Independent Film Week, IFP’s five-day Filmmaker Conference: The Future of Film, is the must-attend event that welcomes the independent film community to participate in discussions on financing for docs and narrative films, finding an agent and manager, outreach and audience building, working on a micro-budget and much more during a full week of case studies, panels and debates.

Buy passes by THIS FRIDAY 9/3 for a chance to pitch your film, tv or new media project to top executives.

All Students receive a 20% DISCOUNT, just simply enter this discount code: EDUC10 when purchasing your pass.

Don’t pass up your chance to learn the ins-and-outs of financing, producing and distributing your movie and sustaining a career with reps from BBC, BMI, Cinereach, College Humor, Cinetic, HBO, Impact Partners, Kickstarter, Magnolia Pictures, Paramount Pictures, Roadside Entertainment, Sony Picture Classics, Sundance Film Festival, SXSW, Tribeca Film Festival and many more.

For more information about the Conference and to purchase passes go to: www.filmmakerconference.com

RocketHub allows filmmakers and other creatives to finance their films without having to hand over ownership to anyone. Our interview with RocketHUb co-founder Brian Meece, as well as a short video introduction, can be found below. Enjoy!

Question 1: For those that don’t know already could you please outline the concept of crowdfunding?

Crowdfunding is a pretty new idea – you may also see it called “fan-funding” – it’s the idea of leveraging multiple people for “smaller” amounts of financing. There are many more creative people in the world than there are wealthy patrons of creativity. Most Creatives lack the financial independence to fund their own creative endeavors,
and finding a willing producer can be a challenge. How many people do you know who are ready, willing and able to contribute $50,000 to back a creative project? Probably not so many… But how many people do you know who could contribute $10, $50 or $100 toward the same project? Probably a lot more – especially if rewards are offered in exchange for contributions. That is the power of the crowd. Often times, all the financial backing Creatives could ever need is already available to them, if they know how to leverage it.

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IF YOU’RE LOOKING FOR EXPOSURE, RECOGNITION & EVALUATION THEN CONSIDER IMPROVING YOUR FILMMAKING SKILLS BY SIGNING UP FOR OUR INTENSIVE 4 MONTH ONLINE FILMMAKING COURSE HERE.

Message by:  Lights Film School
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Question 2: There are other crowd funding sites online. How does RocketHub differentiate itself?

Intangible Differences:

Out core mission is to liberate creativity. That might sound a little twinkly but it leads to a wider belief and structure that supports all Creatives. We are not curators but instead aim to be a global platform for creative crowdfunding. We define creativity widely – to include the obvious (music, film, television, photography, writing, etc.) but also broader creativity (entrepreneurship, innovation, science, philanthropy, etc.)

We are a platform developed for Creatives by Creatives. The founding team consists of filmmakers, musicians, actors, writers, and producers. We utilize our first-hand experiences to build a Creative-centric crowdfunding community. The old model of tastemakers is dying – we are building a new model where the crowd both funds but also, maybe more importantly, validates creativity.We aim to have an educational/inspirational component. Since we cater to Creatives – educating, inspiring, and supporting all Creatives is vital. Our blog is chalked full of tips and tricks, as well as
successful projects others can model and emulate.

Tangible Differences:
RocketHub is an open platform. This speaks to our core mission of capturing the long-tail of creative crowdfunding.
RocketHub is international. We can accept international contributions and projects – something many other sites can’t do at the moment.We have a virtual currency foundation. We have built a system based on our virtual currency (RocketFuel) – which makes for a “touch of fun” element.

We incorporate gaming/social status elements. This is visible in the preliminary roll-out of our badge system, our own vernacular, and an overall lighter approach to crowdfunding.

Questions 3: Is it possible to use more than one crowd sourcing site to fund a film project?

It’s possible but we don’t recommend it.Since the idea to have an “event” online revolving around your film or project, the returns are diminished significantly when multiple platforms have the same project. We advise that you pick one platform – make it your landing page for the duration of your crowdfunding campaign, and build the conversation around one site.

Question 4: Can you give more detail on what types of people help fund projects. What is their motivation for getting “stuff”. What is the motivation of the funders decision to help?

Funders usual have some type of connection to the Creative running the project – either directly or indirectly. The motivation is often having an impact and getting something tangible in return.

In a nutshell – this is what makes for a great crowdfunding project.

OUTSTANDING PROJECT – that engages on a highly emotional level that is spearheaded by someone who has passion and is able to express their passion.

plus

WELL ENERGIZED NETWORK – that’s large, well connected within the hive, and ready to evangalize outside the hive – this includes family, friends, fans, colleagues, etc.

plus

GREAT REWARDS – that are juicy, unique, and give an attachment to the project and/or the Creatives involved

equals

HIGH PROBABILITY OF FUNDING…

We call this “The Holy Grail of Crowdfunding.”

Question 5: I know it would vary on a case by case basis, but what % (or % range) of a project’s funding comes from people outside the filmmakers direct circle of friends, family and acquaintances?

For most of the funding for most projects, 75-85% comes from the Creative’s own networks – however, when a project “catches fire” and becomes popular, those numbers can invert.

This was the case for filmmaker Darko Lungulov – who won Best NY Narrative at Tribeca last year- his project jumped out of his direct network and went viral.

http://www.rockethub.com/projects/21-bring-here-and-there-to-american-art-house-theaters

Question 6: What is the most common misconception from filmmakers looking to fund a project through your site?

Some folks still think the projects are “going to fund themselves”.

To successfully crowdfund $500 or $2,500 or $25,000 real resources are needed. The project itself must be carefully and thoughtfully prepared – especially in regards to the rewards. Multimedia – music, photos, and videos – gives Creatives a much greater chance for success.

Posting a project is just the beginning of the journey. A RocketHub project is a campaign. It requires active involvement, engagement, and promotion.

It requires time and effort. It requires work.

Question 7: How does the RocketHub business model work so it’s sustainable? Do you take a percentage?

Our goals are fully aligned with our Creatives – i.e. we make money when Creatives get funded.

If a project fully Fuels (raises the goal dollar amount or more, within the selected timeframe), the accumulated funds are transferred to the Creative, minus 8% of the total. 4.5% goes to Fuel RocketHub, and 3.5% is applied to cover PayPal’s transaction fees.If a project does not fully Fuel, all contributions are transferred back to the individual Fuelers accounts in the form of RocketFuel. The Fuelers can then either Fuel another project or cash out.

Question 8: How have you found balancing new projects vs. new funders. They have very different interests. Have you found that your new project sign ups outnumber your new funder sign ups? Will this be of growing concern in the future?

Most of the funders come from an aggregate network from the Creatives promoting their projects. We are seeing a nice cross-pollination of fuelers going to different projects. There are on average 10 funders for every project – but it’s more like 50 funders for every successful project.

Question 9: How do you find new funders to get involved in projects?

We attract them in aggregate – usually funders come in from promotion of a specific project, then “cross pollinate” to other projects.

Before you read the 5 part interview you can watch the trailer for the film below.

1. What was your planned budget for the film?

Your plan at first is always very simple when it comes to the budget of your film. Get your hands on as much money as you can! We knew right off the bat that raising around $300,000 was the best target. That way we could convince actors to do the film for the SAG weekly rate and we knew we could deliver a good film for an amazing budget. Just a side note- the second you decide to shoot a film outside of North America, SAG determines that since you have the money to shoot in a foreign country you can afford to pay the SAG minimum rates. SAG will not allow you to shoot on the SAG ultra low budget scale, which if you were shooting the film in the USA they would grant you in second.

2. What was your actual budget for this film?

We managed to get the film ”in the can” for $305,000. Then after returning back to Los Angeles we had to raise an additional $100,000 to pay for all the Post Production and all the costs of delivering the film to First Look Studios and our foreign distributor as well. So in the end, the actual budget of the film came in at $438,000.

3. What were some of the biggest downfalls to working within a tight budget?

The biggest downfall is easy the fact that you don’t have money in your budget to bail you out of trouble or to after some shots in your head that you only wish you had the time and money to try and get. The upside to this battle is that you have to rely on creativity rather than money to get a lot of things done in your film and quite honestly it absolutely amazing what you can accomplish with creativity on the set.

First I’m going to say something that most first time filmmakers hate to hear.
When I usually speak to a first time filmmaker the conversation goes something like this.

Me: “So you’re film is a drama and it’s about child abuse (obvisously the subject is always different). If you don’t mind me asking, what’s your budget?”

Filmmakers reply: “We think we can get the film done for 2.5 million”.

Now, I’ve never been one to tell a filmmaker they’re crazy. Hell, I was told time and time again that “The Art of Travel” couldn’t be made for our budget of $300,000. So I never want to discourage a filmmaker. But, the one thing I’ve noticed while making indie films, it’s always a safer bet to try and make a film with a smaller budget than trying to go for over a million dollars on your first film. The distribution market in the last few years are FLOODED with lots of films and it’s so dam hard to recoup your money back on a film in the two million dollar range – UNLESSS you spend a million to get the biggest actor you can to be in the lead in your film. Sounds easier said than done. If you do manage to find an actor that will take a million dollar payday (which isn’t too difficult) then you have to convince the actor and all the agents and managers involved that you can actually make the film for a million, and if it’s your first film it’s hard to do! If you have a budget under $500,000 you can usually find a boat load of known actors who will do your film and you’ll have total control of your film!

4. Can you explain how you came up with the funding to shoot the film? Did you secure financing before you wrote the script or did you get financing after? Did you get all of your financing up front or did you need more for post production?

LaBelle, Graciano, and myself were able to use the last two films, “Somewhere” and “Border to Border” as calling cards to investors. But our one major strike against us was that both of those films had not been distributed at the time. But a budget of $300,000 was pretty easy for our investor to swallow and they knew we were using all our connections to go after new television talent, so everyone felt comfortable that we’d make back the investment. Then we also set up the fact that we would only ask for the last $100,000 if we actually did manage to come back to Los Angeles with the film “in the can”. When we did return back with a shot film, the investors had no problem giving us the last $100,000 to complete the film.

LaBelle, Graciano, and myself paid out of our own pockets for the location scout and to Central and South America. Then when we came home and wrote the script and budget was done to reflect shooting script and we could back it up by showing proof from the location scout. Our investors then felt very comfortable about everything and then we had our lawyer draft up all the contracts and then money was sent into an escrow account for us to go and make our film.

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Continue Reading the Interview

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For some reason raising the budget on “The Art of Travel” was easier than anyone could imagine.  It really helped to have the other two Features under our belt and that we had already done the location scouting to show possible investors where the production would be filming.  If we had done this film using a studio budget, the cost would be in the neighborhood of 2.5 million.

Using private money, we were able to keep total control and tell the story how we wanted to and we were able to use all the indie shortcuts that studios would have a hard time trying to implement.

6. Did you work inside our outside of the studio system to get this film shot?

The only way we were going to get this film made was going through private financing.  We shopped the script around for a little bit and all the usual problems occurred.  Studio people come in and want to put their stamp on  the project.  They want to change shooting locations, bring in different actors, and possibly a different director or producers (because more money would have had to be spent).  Of course they usually want control of the script but don’t want to pay anything for it.  Graciano, LaBelle, and myself knew that if we wanted to make the film our way, we had to go raise the capital ourselves.  Right before we raised the financing, fellow producers thought we were crazy and stupid to go out and make the film.  We were told by managers, agents, and producers, that there was no way in hell we’d be able to make the film for our budget and we’d run out of money two weeks into shooting.  We just smiled at everyone and knew the only way to make them believers was to actually go out and make the film.

7. Can you explain how this film found a distribution deal?

We hired a producer’s rep and the producer’s rep sent DVD screener to all his contacts and within about three weeks we had an offer from First Look Studios.  We did have other offers from other distributors but we all felt that First Look was a great mid range distributor that had a great reputation of working with the filmmakers.  We also received an offer from Warner Bros., but the structure of the deal was so bad that the producers would have been lucky to make 15% of the budget back in five years…if we were lucky (but Warner would have done great).   A couple other smaller distribution companies were also interested but they didn’t seem to have any particular path to put the film on.  First Look had a strategy for distribution and really seemed to be behind the film to get it out there.

8. Can you outline (being as specific as you feel comfortable with) some of the details of the distribution deal (i.e. broadcast, theatrical, DVD rights)

First Look owns all the rights when it comes to North America.   They get to control where the film goes and what outlets to push it.  We did have the option to have a small theatrical push, about 15 movie theatres across North America, but if we did do that then we would never see any money returned to the producers.  Now a days, it’s extremely difficult to get a limited theatrical release.  Most distribution companies will do it if you beg for it, but then they will tell you that you would have to be a huge hit to see any kind of return and then all that money that was lost in your theatrical release will be recouped back to the distribution company through you home market release and television and cable sales.  For an indie limited theatrical release, 9 times out of 10, you will not see a return al all, but at least the distribution company will make some money get the film out there.  At times, you feel like someone sucker punched you in the stomach when you think about the distribution process!  But don’t let it scare you!

9. Do you own any rights to your film now?

When it comes to distribution, know one simple fact. If a company shows interest in your film and wants to represent your film, chances are about 95% of the time they know exactly what they’ll make on your film before it actually goes out into the world.  Even though distributors will give you estimates on what they think the film will make, the probability is that you’ll only make about 50% of whatever the lowest estimate was given to you.   Hell, most producers will even preach that you’ll never see a penny more than what ever you’re advance was.  Always fight for the biggest advance and then in 2 years audit the company, because they’ll figure out a way to keep most of the money unless you get your own account to check things out .   At an Indie level, the distribution will own all your rights or they won’t do business with you.  With “The Art of Travel” we tried to fight to keep our television rights, but First Look told us that if we want to keep the rights they would give us NO ADVANCE. So, they own all rights.

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Continue Reading the Interview

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The Australian government helps support, fund, preserve and inspire films of a wide variety of genres. Some of this support has helped launched the careers of famous Australian actors such as Russell Crowe, Hugh Jackman, Nicole Kidman and Heath Ledger to name only a few. It has also helped inspire a new generation of filmmakers and animators. “Happy Feet” the animated feature film was an Australian production and it won a well deserved Oscar for Best Animated Feature in 2007.

So who are these supportive government organizations that filmmakers need to know about? Well there are many of them, from smaller arts and heritage foundations to larger organizations who seek to invest in films with mass appeal and substantial commercial potential. For the sake of simplicity we’re going to be focusing on the one major player in the film funding scene in Australia.

Screen Australia

Screen Australia started in July 2008 and it brought together the previously separate entities of the Film Finance Corporation (FFC) and most of the services previously provided by the Australian Film Commission (AFC).

Screen Australia helps fund feature films, animated films, documentaries, TV dramas and Children’s TV. Click on the link above to learn more about the specifics of each of their development funds.