Graduates of a film studies program have a new opportunity in film and video production. Of course, with every opportunity comes a challenge, and in this case, the challenge is finding funding for your projects or those of your employer.

With the advent of digital equipment, the scope of film and video production has expanded. Regular Hollywood-style film production is no longer the only path to a career for film graduates. There are a multitude of opportunities in audio and visual applications in business, government and the entertainment industry. That means OPPORTUNITY for the most enthusiastic graduates to produce their own film and video projects, or to land the most exciting positions at leading film and video production companies.

Financing has been a dirty word for years in the film industry. The ‘blue suits’ and the cold heart of the banker are synonymous with the enemy of the creative. However, in this new era of opportunity, you have to be both the ‘blue suit’ and the creative.

How do you find a way to learn about movie financing, movie budgeting, etc.? Let’s first take a look at film studies syllabi.

There are so many film studies programs available now that it is confusing for me, and I have worked in the film industry for over 20 years. Universities are adopting a liberal arts degree approach to their curricula, and colleges / schools are primarily adopting a practical technical approach. In any case, it is indisputable that film studios are big business. The following excerpt from The New York Times Company, published
On March 6, 2005 © made it clear to me how big a Film Studios business really is:

“Some 600 colleges and universities in the United States offer programs of film studies or related subjects, a number that has grown steadily over the years … At the University of Southern California, whose School of Film-Television is the country’s oldest film school (established in 1929), half of the university’s 16,500 college students take at least one film / television class. “

What college, school, or university will best prepare the graduate for a career in film and video? If a student has invested 2-4 years of his life in this degree, how can he make it a worthwhile career?

Let’s see what universities say about their own programs and what kind of results they expect – that is, what the graduate will be capable of upon entering the workforce. This promo letter, posted on a university website, says it all:

“A major in Film Studies is not an occupational or professional degree. However, a good program of study in this discipline should qualify a student for a variety of vocational possibilities. Obviously, a person should employ their knowledge of film in either a creative or practical capacity and, in any case, exercise the judgment and initiative that a rigorous search for a specialization in Film Studies must develop “.

Using ‘should’ twice in three sentences tells the story – it’s up to you, Bud!

Film studies programs (at any level) do not address, or do not address strongly enough, the main force behind all film and video production – MONEY! If the word money is mentioned, it is just a handshake and a nod. Most undergraduate programs have very little mention of the movie budget, and things like cost reports and business plans are treated as completely unrelated topics. Master’s programs are only slightly better.

The reason for the information gap on things like movie budgets, cost reports, etc. in academia it originates from the great Hollywood production machine. Perpetual negotiations with the big three unions (SAG, DGA and WGA), as well as with the IATSE and Teamster staff unions, have forced the production studios to be extremely confidential.

That era of complete confidentiality is not over, however, there is a great demand to know more about movie financing, movie budgeting, etc. The new generation of independent film and video makers want to do their own projects, find their own financing, and budget for movies and report production costs. It is even more and more possible for producers to distribute their own projects over the Internet.

Trust me, the film school graduate who has a deep understanding of your film studies program and understands the basic processes of film budgeting, cost reporting, and business plans, is light years ahead of the rest. A film studies graduate who can help put together a financing package (that is, help put together a film budget and a simple business plan) would blow the mind of any independent film and video production company. Can you imagine an Independent Producer who WOULD NOT LOVE getting help preparing and submitting a financing package?

I used to assume that film students had a lack of interest in the budget and costs of the film (of any kind). Not anymore. I recently did a survey of film students at a respected film school. These are the results of the survey:

More than 80% of the students said they felt it was important to know more about the budget and how it affected their careers as filmmakers.

Film and video production is one of the largest industries in the WORLD (alongside weapons manufacturing, of course). The widespread use of digital media has created a new opportunity. That opportunity, while less expensive than the Hollywood-style film productions we’ve grown accustomed to, is still expensive and requires funding. How do you get that financing? Where do you start

Answer: Start with the basics of movie budgeting, cost reporting, and very simple business plans. If you can calculate a focal point or learn how to operate a video camera, a film budget is a piece of cake.

Based on my experience over the last 20 years in the film industry, I can confidently say:

1. Graduates of film studies programs who know the basics of film and video production money (budgets, cost reports, and business plans) will find that they can take on more responsibility for their film and video projects, and

2. As a result, they will have more successful careers than their peers who have not learned to budget for movies, who do not understand the cost report of any production, and who have never seen a simple business plan.

So how does a film student get acquainted with budgets, cost reports, and a simple business plan? I have been a Production Auditor for 20 years and have NEVER shown a crew member a Final Budget or Weekly Cost Report (the universally standard financial report that is sent to Financiers and Producers each week) in that entire time. They are considered sacrosanct by Studio Executives, Producers and Financiers everywhere.

Well, I’m about to bother you with some relevant articles that will open the door just enough to let you through. They are written for beginners, so be patient if you have already been exposed to budgeting and cost reporting.