Why you ABSOLUTELY MUST Become an Indiefilm Entrepreneur
The concept of filmmaking entrepreneurship has been coming into vogue for quite some time now but has really started to take hold in the zeitgeist of our industry in the last 3-6 months. The culmination of this was the launch of the Filmtrepreneur website, blog, and podcast. From Alex Ferrari (Best known for Indie Film Hustle.).
However, Alex is far from the first to advocate for filmmaking entrepreneurship, despite potentially being the loudest voice in the space. This blog at ProductionNext explores a lot of the most influential voices on this topic. I’m among although I didn’t have the foresight to brand it that way. I think the reason for this is that more and more people are catching on that if you really want to be an indie filmmaker, the best answer in the current state of the industry is to be an entrepreneur. Here’s why.
1. You’ve (Probably) got to
If you don’t have the ability to move to New York or LA and network your way into the studio system and don’t want to work for a local TV affiliate, becoming an indiefilm entrepreneur is your best way to make a sustainable living. Most of us would rather not have a side gig or a 9-5 in order to keep a roof over our heads, but if we don’t build a brand and a company around our work there isn’t going to be much of an option.
In essence, building your brand, leveraging that into a community, and leveraging both of those into creating a sustainable company is your best bet to building sustainable revenue for yourself from your work.
2. There’s no money in MAKING films, only SELLING them.
I’ve said it before, I’ll say it again. Any accomplished filmmaker will know that you only spend money when you MAKE movies. That’s fine, and it’s true for almost any product. However, you can’t pay your bills if all your money goes to buying lenses and camera equipment.
If you get investors, you’ll need to pay them back. If you put the film on your credit cards, you’ll need to pay those back too. (Also, don’t do that.)
3. If you want a sustainable career in film, you need to make money
I know I said this in the last point, but you can’t pay your rent with exposure. You also shouldn’t pay your crew this way. In order to make money, you need to sell your film. As such, you should consider this from the moment you start writing your script. You should think about your audience, your marketing strategy, and who is going to absolutely love your film to the point that they annoy their friends because they just won’t shut up about it. That segues nicely to...
4. The Notion that if you just make a great movie, people will find it is a fallacy.
We all heard it in film school, but while there are a few kernels of truth to it, it’s not even close to true overall. It’s definitely easier to sell a good movie than a bad one, and word of mouth is still the most effective form of marketing. That said, quality isn’t the only determining factor in selling a movie. (Check out the box office numbers for Transformers if you don’t believe me.) Things like Genre, recognizable names, and the amount of publicity you can generate also have HUGE impacts on the salability of a film.
Regarding word of mouth, it’s like a virus. If you don’t hit a critical mass, it won’t do you much good. In order to get your critical mass, you need to have a strong marketing strategy and a well-defined target market that is ideally made up of an underserved niche. The reason for the underserved niche is that it helps make it much more cost-effective to market the film.
Related: Why your film needs a niche market
5. It’s the best (and maybe only) path to true filmmaking freedom
If you want to make the movies you want to make, building a brand, a community, an audience, and a company is the best way to achieve that goal. If you work up through the studio system, you’re not going to be likely to reach the upper echelons before relatively late in your career (if at all) Even then, you’re likely to be subject to studio mandate which will make it difficult to make the films you really want to make.
As such, if you want to make films that really strike your fancy, the best way to do so is via becoming a film entrepreneur. I was speaking with Rob Hardy of Filmmaker Freedom about this shortly before writing this particular blog, and that’s a lot of the new direction for his filmmaking podcast, which you should check out. (I’ve linked it below)
CHECK OUT THE FILMMAKER FREEDOM PODCAST |Apple Podcasts|
Thanks so much for reading! If you want some help building your company, you should consider hiring a consultant with exits behind them. I’m one of those, learn more about my services in the services button below. If you’re not ready to do that, check out my free film business resources pack. You get the Entrepreneurial Producer E-Book templates to help you make an investment deck, festival brochure, track distribution submissions, and more. It’s free when you sign up for my email list.
