As any filmmaker knows, getting a feature film off the ground can be a daunting task. There are so many factors to consider, and the road to securing production funding can be a long and rocky one. But there is one thing that all filmmakers should keep in mind when it comes to getting their films funded: the concept of “the lowest risk in the room.”
Simply put, when it comes to funding decisions, the films that are most likely to get the green light are the ones that represent the lowest risk and greatest possibility of financial success. This means that, as a filmmaker, it’s your job to mitigate as many risk factors as possible in order to make your film project as attractive as possible to potential funders.
So, what are some key risk factors to consider when trying to secure production funding for your film?
1. The script: A strong, well-written script is crucial to the success of any film. It’s important to make sure that your script is not only well-written, but also feasible to produce.
2. The cast: A talented, experienced cast can go a long way in mitigating risk for your film. This is especially true if you can secure well-known actors, as they tend to bring a built-in audience with them.
3. The crew: As with the cast, a skilled and experienced crew can also help to reduce risk for your film. This includes everyone from the director and producer, to the camera operator and sound engineer.
4. The location: The location of your film can also be a risk factor. Shooting in a foreign country, for example, can be more expensive and logistically challenging.
5. The budget: A realistic, well-planned budget is crucial to the success of any film. Make sure to carefully consider all of the costs associated with your film, including production, post-production, and marketing.
So, how can you mitigate these risk factors and increase your chances of securing production funding for your film? Here are a few strategies to consider:
1. Write a solid, well-written script: This may seem like a no-brainer, but it’s worth reiterating. Make sure to spend the necessary time and effort on your script to ensure that it’s as strong as possible.
2. Secure a talented, experienced cast: As mentioned above, a talented cast can go a long way in mitigating risk for your film. Try to secure well-known actors, or at least actors with a solid track record of success.
3. Assemble a skilled, experienced crew: Just like with the cast, a skilled and experienced crew can help to reduce risk for your film. Make sure to do your homework and hire the best crew possible.
4. Choose a feasible location: While it may be tempting to shoot your film in an exotic location, it’s important to consider the costs and logistical challenges associated with shooting in a foreign country.
5. Create a realistic, well-planned budget: As with the script, a realistic and well-planned budget is crucial to the success of any film. Make sure to carefully consider all of the costs associated with your film, and be prepared to make any necessary adjustments.
By keeping the concept of “the lowest risk in the room” in mind and following these strategies, you can increase your chances of securing production funding for your film and bring your vision to life on the big screen. Just remember: with a little bit of planning and some smart risk management, you can turn your film dream into a reality.
Adding Intellectual Property
One more strategy to consider when it comes to mitigating risk and increasing your chances of securing production funding: acquiring intellectual property (IP) with existing success, audience, and momentum. This could be in the form of a well-known, best-selling book, game, or even just a successful influencer with a huge existing audience. By leveraging the success of a known brand, you can potentially reduce risk for your film and make it more attractive to potential funders. After all, why take on the risk of building an audience from scratch when you can piggyback off the success of a proven brand? So, if you’re struggling to get your film off the ground, consider the benefits of acquiring IP and leveraging the power of a known brand. It just might be the boost your film project needs to secure that all-important production funding.
Making it Easier
If the process of securing production funding and mitigating risk for your film project seems difficult, overwhelming, or just not that fun, don’t despair!
You can partner with Resonant Blue Marketing, a team of experienced professionals who specialize in helping filmmakers get the funding they need to bring their visions to life. So if you’re feeling stuck or uncertain about how to move forward with your film project, don’t hesitate to reach out. We love this stuff and are here to help you every step of the way. With our expertise and guidance, we can help you navigate the often-complex world of film funding and get your film off the ground.