07/29/2016
Straight answers for independents from investors and industry executives re: funding/licensing TV projects
Posted on June 25, 2016 by BSI Media Consulting Group/a Subsidiary of BlueStar Studios Inc.
I recently was invited by our executives to attend an event attended by investors from different parts of the world, and had a candid conversation with investor Syd Shaffer from Europe and two of his partners. They have been funding U.S. projects for years, including two major projects our executive producer S. Anecheko has worked on. Syd and his team have helped raise funds for some of the world’s top grossing films and agreed to answer a few questions I had about funding independent projects.
My name is Elyse and I am a producer and new member to the digital team at BSI. This is the first of many blogs I will be writing that speaks openly about how independents can compete with other industry execs for funding and licensing of their projects.
Our conversation focused on a variety of topics regarding independents and options they might want to consider if seeking funding for films or getting a TV project licensed. At times his comments were blunt and direct. However, he assured me it was not personal.
Please note; Syd has a very foul mouth, so my exec suggested I use my power of censorship to edit some of his responses.
Q: What is the first step an independent should take to get their film funded or TV project licensed?
A: Basically, start by putting a team together that has a f****** clue to how this process works. No one in this room has ever given millions to someone they don’t know, who has no credits and only a script to show us. However, given how the industry has digitized itself and the number of platforms that exist to distribute content on, independents can make a deal work for them…if they’re willing to take the time and effort to follow the plan they put together.
I recognize putting a team together has it challenges, the biggest one is getting the right people to help you. But keep in mind, it’s not as difficult as it is to secure help from studios, networks, accredited production companies or getting an agent. If you don’t have contacts to call upon, there are professional writers, producers and even production companies you may be able to retain to assist you. News flash, they’re not going to do this sh** for free. But whatever you do, don’t retain just anybody to help you. There are a lot of good people in this industry that can do what they say, unfortunately there are also a lot that can’t do a damn thing. Look at their credits (IMDB) this is a good place to start.
Q: Do most investors recommend these step?
A: Hell no! But those that don’t, tend to lose a lot of money. Nearly everyone in here makes decisions based on a variety of factors, that are specific to what they’re looking for. So I have no f**k*** clue what everyone else does, but I do know if you only show up here holding only a script, drink quickly, because security will be escorting you out.
Q: What kind of people are critical to have on my team?
A: I suggest the first person to reach out to is a producer, show runner or someone that has actually produced a film or TV project and has credits to prove it. This person should have the creative, production experience and business knowledge of what it takes to get a project produced and the ability to outline options for how to go about getting it done.
Q: If having only a script is not enough to get your attention, what will?
A: Myself along with more than half the people in this room, haven’t read a script in years. Most investors I know are very busy and don’t read scripts. They have writers and editors that know what the hell they’re doing to do that for them. Basically I want an overview of what the project is about, what it cost and who’s producing it. If that gets my interest, I will start asking more questions. Most of the answers should be in the package you give me.
But I tell independents all the time, go with the flow and provide whatever is ask for. Let me ask you a question. I know most of your execs; do you think they have time to read scripts or do they have you do it?
Look, when I ask someone to send me what they have, typically they will email me a producer’s package. Once I receive their package, I will look at the top-sheet budget first (if you can’t explain how you’re going to spend our money, our conversation is over), then the log line, maybe read the synopsis. By the way, whatever you do don’t hand us a budget and “above the line” represents 60% or more of your budget! Last time that happened I laughed my ass off, then kicked them out of the office. Therefore, if the budget, log line and synopsis makes sense, then I’ll ask my team (writers, editors and financial people) to go through the script and the rest of the package. Based on their recommendations, and the discussion we have will determine if we go to step 2.
Q: What’s step 2
A: If you can’t do step 1, what’s the point of discussing step 2. If they don’t find out what’s expected before they meet with me, they already have one foot in the grave. Keep in mind I’m not a writer or producer. I’m a business man so I have different priorities. I want the basics, how much, who’s in it, how you will protect my investment and how will I make a profit. If you’re looking for someone to kiss your ass because you got a script, I can tell you now you’re in the wrong room. I’m not trying to be mean, but it’s just how the people in this room think. If you can’t get step 1 right, there won’t be time to discuss anything else.
Before leaving he said he was only joking and asked his team to answer any additional questions I had, including details about step 2 and their process. For the record, based on his tone and demeanor, I don’t think he was joking.
In my next blog I will tell more about their process along with other steps independents can do to get their project produced.
If you have questions, comments or need assistance with development or production of your film or TV project, please email me Elyse to speak with our executive producer.
Elyse, Producer
BSI Media Consulting Group / a subsidiary of BSI
#}