This post might be observed as a continuation of The Cold Call. As I’ve previously discussed, whether you are a studio, production company or independent filmmaker, you need investors to realize your projects. As I stated in my opening remarks at the world premiere of Justice Is Mind, without them you don’t have a project. It doesn’t matter how great it is.
Over the last few weeks, I have discovered a not so pleasant revelation of investors (hedge funds, private equity, etc.) that used to be involved in the industry but aren’t any longer. The reasons stem from lack of returns, revenue transparency or, worse, misrepresentation. These investors that used to invest millions now invest elsewhere, and for good reason.
As filmmakers we are creators, visionaries that can illuminate a project without showing one frame on the screen. It’s what we do. It’s not only the investor we have to sell; but the actors, crew, location, marketing partners, distributors, etc. But there is also a business side that needs to be observed to make these dreams happen in the first place.
The one thing I have learned with investors over the years from publishing to filmmaking is what I call an alignment of common interests. Yes, you want funding, but you also want some sort of engagement. When I was publishing magazines, my investors had a vested interest in the industry we covered. In filmmaking it can be anything from the subject of the film, the mechanics of the process or simply a pure investment play to generate a return. But in my view, it just comes down to being honest and, to be blunt, not a bullshit artist.
Yes, I will tell you point blank that I can make $1,000 look like $50,000 on screen and back it up with the talent involved and technology shop talk. But I will not tell you that we will get selected for Sundance and all rights deal that includes a wide theatrical release. But what I will state is how I accomplished a theatrical run and VOD distribution for Justice Is Mind. I’ll then mention the various companies I would use to facilitate this process for the next project. In other words, transparency.
As I filmmaker I couldn’t have asked for better investors in Justice Is Mind. First, as they are in business for themselves, they were realists and enjoyed both the excitement and challenges that come with any new business. And a film, even a low budget indie, is a business.
The one area they found particularly interesting was distribution. Rightly so, they wanted to know how Justice Is Mind was going to market. While the business plan spelled out our primary method at the time, during the production of Justice Is Mind a company I was going to work with changed their business model that didn’t align with ours. This is when it comes down to adaptability and looking for new avenues. Those avenues led us to a limited theatrical run, an international premiere on the Queen Elizabeth ocean liner, solid media coverage and VOD distribution. Yes, we all want more, but the one thing this industry takes is time—time to build relationships, new projects and getting them to market.