As the
overall economy continues to stumble along, times remain tough generally, and with
independent film. But how tough exactly,
and how are filmmakers managing? We all
know our own individual situations and those of friends and co-workers, and
people we hear about through the media—but what’s the bigger picture? How have things changed, or not, in the
production, marketing, and distribution of independent film? Has anything gotten better for filmmakers in
recent years? Where are things going? Someone should study this stuff and get back
to us.
Well,
someone is, and he wanted to share his research with us. Craig Puller is an
MBA student at London South Bank University
researching the impacts of the economic downturn on independent film, with a
view to where it’s all going. He’s researching
what’s been written so far on the subject and doing his own interviews and
surveys with industry experts and people in the trenches. We asked him to share some of his ideas and
findings here. He, in turn, would appreciate
hearing your thoughts and experiences anytime via craig.puller@gmail.com.
One of Craig’s
hypotheses is that independent films with smaller budgets could be safer bets for
investors in times of prolonged economic recession than big-budget Hollywood projects.
If movies with big and small budgets are
all very unpredictable commercially, then smaller investments mean less is at
stake per project, and it doesn’t take huge box-office returns to recoup the
investment and even profit. And, if
investors generally have less money to put up in the first place, wouldn’t this
point them toward projects that require smaller investments? What do you think?
However independent
films are financed, in good and bad times what attracts their audiences? How best to build audiences and maximize the
return on investment? Securing a
distribution deal prior to the commencement of production is a huge factor,
but, as we know, many independent films are not so fortunate, being completed without
distribution and struggling to reach audiences.
Whether or not you have a distribution deal, marketing is
essential. This can include traditional
methods or more innovative e-marketing techniques, or perhaps ideally a
combination of both. Also, having a known
actor in a film can make a big difference in securing distribution and reaching
audiences. These are some of the key
factors Craig is investigating. What do
you think of them, and are there other things he should be looking at? How has the economic downturn shaped these
factors? How has it affected marketing
and audience turnout, for better or worse?
Related to
this, Craig is looking at the current and future role of film festivals. His sense is that, even in hard economic
times, there has been an increasing number of films made and submitted to
festivals, thereby making the festivals more selective and making it more
difficult for filmmakers to gain attention for their work. Festivals are imperfect for filmmakers in
other ways, such as their wide geographic dispersion and their tendency to pack
many films into a compressed timeframe, making it more difficult for
distribution agents to see and properly assess the films. And yet festivals remain among the most
successful ways for independent filmmakers to grab the attention of distribution
companies, obtain audience feedback, and generate buzz for their films. So, are film festivals more or less effective
today than they were previously, and what could they do to better serve
filmmakers and audiences in tough economic times? How can a film increase its chances of being
featured at a festival, and then leverage that success to achieve bigger things?
Have you
heard of prediction modeling software? Craig
is looking into what this technology does and how it works. For example, what factors it uses to form the
basis for its models. What are its pros
and cons for filmmakers? Is it
cost-effective? Does it work at
all? If you have any direct experience in
this area, Craig would appreciate hearing about it.
Craig is also
investigating the growing use of other new technologies, especially online media,
for promoting and distributing films. Some
films, such as Paranormal Activity, have
benefitted greatly from the ability of new technologies to reach audiences with
efficiency and effectiveness. Digital
distribution companies are emerging, as well as streaming video on demand. But how well are they all actually
working? How do you see these
technologies being used effectively (or not) today, and how will they likely be
used in the future by the independent film community?
To sum up,
Craig is investigating how independent film has managed during this extended
economic crisis, and what its future looks like. Is it bright, or will more films be made with
weaker prospects for commercial success?
What do you think? Let Craig and
all of us know with your comments below, or send him an email (craig.puller@gmail.com).
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The VFF is
accepting submissions for this year’s edition until mid-July. From May 16th to June 30th,
the submissions fee is $75 per film (short or feature). For more on submissions and the VFF generally,
visit our website
or Facebook page.
Also, if
you’re involved with independent film and interested in possibly being interviewed,
or otherwise contributing to our blog (like Craig did), contact us anytime at info@valleyfilmfest.com
