AFM Finance Conference: Richard Botto, Rebecca Cammarata, Paul Hanson, Russell Levine, Ben Stillman
Today, the major studios focus on producing blockbuster franchise films that attract huge global audiences to theaters and bring people into theme parks. For the most part they’ve abandoned the smaller, niche films that were once their mainstay. This leaves a niche that independent producers can fill. But it’s becoming increasingly difficult to find the financing to produce the smaller films that the major studios once made.
“The 15 to 35 million dollar film model has cratered,” said Russell Levine, CEO, Route One Films, speaking at the American Film Market (AFM).
His company has shifted its focus to making “movies in the three to five million-dollar range,” he said.
While budgets are being tightened, “there is a huge market out there for high-quality films in the under $3 million range,” said Levine.
Getting that funding is “all about having a great script,” said Ben Stillman, Senior Vice President at Black Bear Pictures. “A great script opens a lot of doors. “
You can attract talent even with a limited budget. “All of our films are made with A-list talent. It’s all about the material,” said Levine.
People are looking for “someone who is an exciting, great, original voice,” said Stillman. Films like “Manchester by the Sea” and “Moonlight” have shown that taking risks pays off.
You should try and produce a film like these that will become a conversation starter that lights up social media and is “dynamic enough that someone will want to go and see it,” said Stillman.
A low budget presents challenges when you’re trying to attract actors to your project. Conventional wisdom has dictated that your film needs to have at least one star that financiers believe will attract an audience.
“Go after the best acting talent” and ignore their box office potential. “It’s all about finding the best actor,” said Levine.
“People are talking less and less about the value of cast. It’s more about the talent’s story,” said Rebecca Cammarata, Director of Development at Stay Gold Features. She told the crowd; “You don’t have to have a massive star, but if there’s a way you can sell this person to people in the marketing of the film, then that’s a great thing.”
Securing funding usually also means having a director and an experienced line producer on board that will instill confidence in funders, the cast and their representatives.
“If you bring in a known producer and director you can get it done,” said Levine.
To pull together a team you’ll have to do is network and develop relationships with people who can help you.
Once you have this package (great script, director, producer and cast) you still have to watch your budget like a hawk.
“No first class travel and lots of assistants,” said Stillman. Always look “at ways to reduce cost,” he said.
There will always be obstacles but “if you’re absolutely relentless and passionate you can get your film made,” said Levine.
The good news, “there are audiences that want to see great stories,” Stillman.