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Case Study: Background:
(Read the following carefully. Note that this case needs to be critiqued and the assumptions questioned where necessary.)
Optimistic Productions is an imaginary British TV production company with ten years of experience and a track record which is dominated by factual documentary and entertainment programming, but includes a small number of TV drama commissions in single dramas (three 90 minute commissions in the last five years). It already has two part-time drama producers, and has good relationships with a number of TV drama directors. However it has not raised independent multi-source film finance before, because all of its TV drama commissions have had their production costs fully-funded by broadcasters.
After the critical success of a recent one-off late night television drama (which was also screened to acclaim at a film festival in Holland), the Managing Director has declared that they would like to follow this success up by also moving into developing and producing feature film projects, in order to diversify income streams and increase levels of output and types of programming at the company.
The Managing Director has written a business plan for their existing shareholders, which proposes the new strategy. They currently do not have any film projects in development, so they are proposing that in the next six months they will set up a separate standalone film development department with three full time staff, including a head of development (who will be bought in from an existing film company or headhunted from a talent agency); plus one of the two drama part-time producers (the other will stay working on TV drama); plus an office assistant. They are asking their shareholders for a new investment of £100,000 of cash across three years for core funding to pay for this development (to cover salaries of staff; cost of acquisition of options of novels or screenplays, if required; and development funding for writers to write screenplay drafts). Rather than tie themselves to an external development financier, they are going to cover all costs of development with their own investment, so that they have the freedom to choose which companies to take the project to at the production financing stage.
The managing director’s business plan projections propose that they will develop a slate of three film scripts, and starting next year they will produce a feature film a year for the first three years, climbing to two films a year from then on.
It is planned that all scripts will be development funded “in-house” (in other words: using their own funding and developed within this one company, rather than with co-funding), so that they can choose who to approach for production funding and not be tied to the development funder.
The films will be targeted primarily at the UK audience, with some international sales to key European territories, but the American market is not expected to be a large area for exploitation.
It is proposed that when completed the films would be in the production budget of £3-4 million, and aimed at the UK independent financing marketplace, rather than the US studio financing system. None of the production costs will be paid for by Optimistic Production, but will be raised by the producer from third party sources (such as a mixture of a broadcaster, the British Film Institute Lottery Fund, private investment from wealthy individuals, and pre-sales to distributors in international territories).
As is usual in independent production companies, the director, crew and actors are not permanent staff but are hired for the production period, and paid for out of the production budget.
It is proposed that the development costs will be recouped from the production budget on the first day of principal photography of the film with a 300% premium (this means that on the first day of principal photography the development money invested by Optimistic will be paid back from the film’s production budget, plus an extra profit fee of three times the original investment). This premium will enable Optimistic Productions to continue to invest in future development and pay the ongoing salaries of staff.
Should the company’s board agree with the Managing Director and recommend this business plan to the shareholders, asking them for this extra money? The board is also unsure whether the new film department should work solely in development and production, or whether they should take a more integrated route and also be involved in either distribution or international sales. Should they consider integration between production and international sales; or production and distribution; or both; or neither?
With this context please answer one of the following two questions in circa 2,500 words (margin: + or – 200 words):
EITHER:
A. The film business strategy and finance question: With analysis of the independent film financing marketplace, write a consultancy report advising on this proposed move into film production. In the course of the report you must address both the following issues:
1. What are the problems with investing in film production and development in the UK and independent marketplace, as shown by the Film Value Chain?
2. Critique in detail the case study business plan. What has the Managing Director got right and what is more questionable? Should the company’s board recommend this business plan to the investors / shareholders? How can they best fulfil their ambitions in the UK, or are their ambitions unrealistic?
OR:
B. Managing creative people and development question: What are the issues and risks facing a new film drama development department in the UK? With the help of relevant theories about managing creative people, make recommendations about how the new team could ideally operate to develop film projects and identify, manage and retain creative talent, in the current independent film marketplace. How would you use development executives and / or script editors, within the existing business plan? Would you use the existing business plan or what kind of plan would you design for yourself to achieve these outcomes of films made?
OR:
C. Plan a film project: Imagine that you are developing a feature film project as part of the slate for Optimistic Productions, aimed (as stated above) at the independent marketplace. You must choose not an original story but an adaptation of a novel or play (affordable to buy or out of copyright), or a remake of a TV programme or series or a minor film that this company might be able to get the rights to (not a studio blockbuster, but an old film or a film from another language). This should not be a project that has already been remade by another company, or is in the advance stages of being made – so that you can find information about it online. It should fulfil the needs and targets of the business plan above (for example: targeted primarily at the UK audience, with some international sales to key European territories). Note that the aim of this question is to demonstrate your understanding of the industry, not to demonstrate your ability as a screenwriter adapting an idea. Answer the following questions:
1. The pitch: You must include the following headings:
a. Title: (this does not have to match the source material title if you do not want to)
b. Logline / strapline: (a pitchy single sentence advertising the feel of the film, such as you might see on a film poster)
c. Three line pitch: (a succinct summary of the film, as it might be pitched in a listings magazine or on a site like Amazon)
d. Source material: (novel, play, remake of TV or film)
e. Genre (for example: thriller, comedy, romantic comedy, drama, teen, musical, period drama, coming-of-age, horror, sci-fi, etc.)
f. Locations: (list major external and internal locations, and percentage in studio)
g. Period: (modern? 19th century? Stone age?)
h. Production budget (not marketing) in pounds sterling: (very approx.)
i. Detailed pitch and rationale: Pitch the basic storyline in a way that explains the story and could encourage the Managing Director of the company to agree to invest in developing it. Why should it be made now, for today’s audience? How does your proposed adaptation differ positively from the original? (section 1 word count: circa 750 words, of which only about 300 words max should describe the story)
2. What genre of film is it and what type of film (specialist / arthouse, conceptual, or Anglo-Hollywood), and therefore explain what are the potential funding sources for development and production? Which are the funding sources you would probably not approach and why? (1000 words)
3. And then either
a. Produce a distribution plan describing which UK distributors you would approach to buy the completed film, or invest at production stage. What are comparable films? Which territories abroad (if any) would be key territories for the film, and why? Are there any key distributors in those territories who you would approach? (1000 words);
or:
b. What is the target audience? From the point of view of the distributor, produce a marketing plan explaining how the audience will be targeted and grown during the release of the film, across all windows in the next two years; including theatrical cinema, video-on-demand, download, DVD, and television (and specify which of these are likely to be the biggest sources of income for this project). Which methods of advertising and marketing will be used and why? How many cinema screens and in which areas? (1000 words)
Note: this is not Hollywood:
Please note that the film case study above refers to a British company, and so the Hollywood context is less relevant than the UK and European context. American studios are not in direct competition with this fictional company (only in that their distribution companies control a large market share of the mainstream audience).
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