Film Budgeting Basics

step1: pick your camera

New filmmakers tackling their first indie feature will obviously ask, “What is this film going cost to produce?” The answer to this – like many of these questions – is, “It depends.” The cost of making a film is directly related to the resources needed and the time required for each resource. That often has little to do with the time involved in actually filming the scenes.

A friend of mine, after directing his first feature, was fond of saying, “The total time of saying the words ‘roll, action, cut, print’ was probably less than an hour; but, it took me two years prior to that to have the privilege.” Cost is almost never related to return. I’ve often told budding filmmakers to consider long and hard what they are doing. They could instead take the same amount of money and throw themselves the biggest party of their life. After all the effort of making the film, you might actually have more to show for it from the party. Film returns tend to follow other media success percentages, where typically 15% are successful and 85% fail (or at least don’t make a financial return). Understanding how to maximum the value on the screen is integral to budgeting a feature film.

step 2: Determine your Genre

I often work in the realm of indie features, which includes dramatic productions and documentaries. Each of these two categories tends to break into cost tiers like these:

Dramatic films

$0 – $50,000

$200,000

$500,000

$1,000,000-$2,000,000

Over $2,000,000

Documentaries

$0 – $30,000

$50,000

$300,000-$1,500,000

Over $1,500,000

Money is always tight within these ranges. Once you get over $2,000,000, you tend to have a bit more breathing room and the ability to tackle issues by adding more resources to the equation. Production is related to time and that varies greatly between scripted films and documentaries, where the story is often evolving over time and out of the director’s control.

<taken from Oliver Peters – http://digitalfilms.wordpress.com/&gt;

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