When it comes to production, funding is undoubtedly the making or breaking of a

film business. Finance for film projects can come from different sources, depending
on how the company stands in the world of film business. This is evident when
comparing the funds and success of Working Title and Warp films (both UK-based
film companies) respectively. Working Title are part of the conglomerate Universal,
and so gain funding from them; on the other hand, Warp Films – an independent
film company – have to gain funding from a number of financiers through pitches of
their prospective films. Due to these differences in receiving funds for films, there is
a contrast between the two companies. This is apparent when comparing the
quality, genre popularity and amount of films produced. Working Title far outdo
Warp in all these areas, due to their superior and more simple method of gaining
funding.
The fundamental person involved in any film production is, obviously, the producer.
At the start of the production process, the producer is the one who devises the initial
idea of the film, which is then written in script format if their pitch is approved by
the financiers of the film. Therefore, the more inspiring the idea – and the script
following it – is, the more funding it is likely to secure, which theoretically should
make for a more successful, higher quality film. The producer develops the film
further by working with the director and other important members of the crew.
Directors working on the film also are important for the success of the film; the right
director is vital in order for the producer’s visions to realise. The director uses the
script as a blueprint and interprets it, bringing it to life in shooting. Because of this,
it is important for a producer to hire a director who is able to interpret the script of
the film in a way that appeals to the director. Obviously, the higher the reputation of
the director, the more they will cost to hire; the producer will hope to at least recoup
the money spent on the director by using the director’s reputation whilst marketing
the film.
As part of the pitch, the cast of the film must be planned (this is an above the line
cost) because it will help determine the necessary budget for the proposed film.
From this, the investor can also predict how well the film will do when released and
decide whether it is worth investing in. On average, the number of financiers range
from 3 to 10. Although having a single financier would be easy and simple, they
would have complete control over the future of the production; they would be able
to hire who they liked, instead of it being the producer’s call, and also if that investor
pulled out of the project, there would be no finance for the film. Therefore, the
advantages of having several financiers are apparent – there is more security for the
future of the film, from both the producer’s and finance’s points of view. Obviously
this is a major factor in determining the company’s success. For instance, Working
Title are able to find more, and more reliable, investors for their films, whereas Warp
Films can’t find as many, and therefore have less funding to make their films.
Budgeting for films is also important in the success of film companies. This
determines how much money from the investors will be allocated to which parts of
the production. Above and below the line costs are calculated, with above the line
making up the majority of the budget. Above the line costs are mainly creative talent
(directors, actors, etc) who cost more to employ, whereas below the line are other
members of the crew. Working Title are more successful partly down to their larger
available budgets for films; they can afford actors and crew with more experience
and/or a higher reputation, which often means a more successful, popular film. On
the other hand, Warp Films mostly have a smaller budget to work with, and
therefore have to make do with what they can afford (lower reputation staff),
which ,most of the time, means less success for the company.
The final stage is marketing. A key feature of the film is that it must be definable. By
this I mean it must fit into a genre, however at the same time maintaining
originality. This is the best way for a film to succeed, as it appeals to the audience.
Marketing is a hidden cost in the production process, which has to be accounted for
during the budgeting. The film must be produced and marketed in the form of
Cinema, DVD and Television. Certain production tools are used to draw in potential
audiences, such as famous Directors and Actors – which give the film credibility and
make it appeal. The more money the company has to spend on marketing, the more
likely it is to be successful commercially.
The common, recurring theme in the necessities for success in the film business is
undoubtedly finance. Without the appropriate funding, a film isn’t likely to be a
success, which in tail, makes or breaks a film company.