Chapter 4: Connecting the Dots: Breakdowns, Budgets, and Finance

Storyboards

Storyboards

________ are simple, cartoon- like sketches of each scene in a script.

independent producers

All ________ and production companies protect themselves with a Comprehensive General Liability insurance policy that includes liability and workers compensation.

script

Every ________ is a compilation of scenes, and each scene has certain requirements that cost money.

principals

Casting involves both ________ and extras.

local government

State and ________ offer funds for projects that fit their grants requirements.

Insurance

________ that protects the production against lawsuits involving authorship and copyright issues such as:

Public television

________ might air a special or a series that is partially or fully sponsored by a public or private foundation.

Union members

________ are generally assumed to be professionals with experience.

Storyboards

________ are not necessary for each project, but they can be useful organizational tools.

Often a producer agrees to pay a fee to an above-the-line creative in installments

one-third upon signing a contract or deal memo, one-third on completion of principal photography, and the final one-third when the project is completed

Its a necessity

you could lose everything from one lawsuit

Making a budget for your project requires you to...

• Examine each aspect of your project

• Give it a face

• Assign its job descriptions and a set of parameters

As a guideline for the budgeting process, you can...

• Refer to the comprehensive budget template

• Research budgeting software programs like Movie Magic Budgeting or EP (Entertainment Partners)

The best budgets emerge from...

• Solid research

• Cost comparisons

• Studying other producers’ budgets

• Talking to people with budgeting experience

• Practice

The producer may work with...

• A small two-man crew

• A large team with other producers

• Writers

• Director

• Actors and talent

• A substantial production crew

• Heads of key departments

• Lawyers

• Insurance agents

• Accountants

• Public relations

• Representatives

Budget categories...

• Preproduction

• Production

• Postproduction

Budget sections...

• Above-the-line

• Below-the-line

Producers factor in indirect costs, like...

• Legal fees

• Accounting service

• Insurance premiums

• Taxes

• The contingency that covers unforeseen costs

Creating a budget and sticking to it takes...

• Discipline

• Ingenuity

• Experience

• Patience

Students can often benefit by affiliation with...

• School-sponsored grants, awards, and sponsorships

• Private investors like friends and family

• Professional business investors

• Festivals

• Public and private foundation grants

Many students can take advantage of the resources their school offers, which might include...

• Video and audio equipment

• Allotments of video stock

• Editing equipment

• Graphics tools

• Music libraries

• Possibly extra student labor

Students might qualify for lower student rates that could apply to...

• Van or car rentals

• Travel

• Meals

Many editing and audio facilities and businesses provide student rates for...

• Software programs

• Original music

• Stock music

• Stock footage

In-Kind donations...

• No-fee location

• Food and beverages from a restaurant or grocery store

• Vehicles

• Software

• Supplies

• Film or digital stock

• Legal and accounting services

• Databases and computers

• Telephone and Internet

• Post-production facilities

Occasionally, after the shooting has been completed, a project may end up with items that can be...

• Sold for cash

• Returned for refunds

• Exchanged for services

Each sketch in storyboarding is a rough portrait of the scene being shot...

• The location of one character in relation to another

• The framing

• The surroundings

• The colors or lighting in a scene

Estimated costs

What the producer thinks a budget item will cost

Actual costs

What the item actually ends up costing

The producer must...

• Make phone calls

• Research online sources

• Compare prices

• Talk to other producers

• Keep up with the industry trends

The buyer may be willing to give you a small development fee for...

• Expanding your script

• Research

• Location scouting

• Doing a script breakdown

Courtesy Credits

• A producer can often negotiate with providers of goods and services, simply by giving them an acknowledgment in the end credits of the program

Deferred Payment

• To save money, a producer might offer a deferred payment to some or all of the people involved

• This means that when (or if) the project eventually makes money, all who agreed to defer their salaries are paid when it makes money later, often with interest or bonuses on top of their original salary agreement

Negotiation

• A producer can often negotiate better rates

• Few unions will agree to lower the rates for their members, but there may be exceptions

• Sometimes non-union actors, crews, writers, and directors, as well as equipment rental houses and postproduction facilities may be willing to negotiate

• Some people are willing to work for half-day rates

• Another potential area of negotiation involves product placement, in which a product is placed in such a way that it’s visible to the viewer, and integrated into the scene. A fee is paid for this service