Movies are some of the most exciting ways of getting entertainment. A good film can take us through a range of emotions. But to get such a movie, there are many people with very important roles to play to make it happen. One of such people is the Executive Producer.
What Is the Role of the Executive Producer?
The executive producer has the responsibility of finding and securing funding for a film project, whether through a studio, an independent finance business, or by self-financing. The executive producer's top priority is to ensure that there is sufficient funding to complete the production.
Executive producers serve as a link between the film's investors and the producers in charge of production and post-production. If the film is being funded by a studio or production business, the executive producer is usually a senior employee or an executive.
Because they manage (and typically provide) the film's money, the executive producer is at the top of the producer food chain. Discover what an executive producer does and how they interact with the other producers of a film.
Executive Producer's Key Responsibilities in Pre-Production Development
The Executive Producer's responsibilities come in the initial stage of the filmmaking process, when the executive producer(s) look for funding, find talent, employ producers, and set a budget. For a major movie, the executive producer must secure funding in one of several ways:
They must either finance the film themselves or seek money from others, such as production companies or film investment firms. However, if the EP is paid for by a studio, the EP must show the budget to the studio, along with any potential overage and anticipated profit, in order to receive financing approval.
The executive producer may recruit "marquee talent" for the project, such as A-list actors or a well-known director, to entice studio buyers or funders, including sometimes assisting in the contract negotiations for these celebrity talents.
The executive producer also often has the responsibility of hiring a producer for the production. Although the producer may sometimes already be onboard to employ the executive producer in some circumstances. But Producers report to the executive producer in any instance.
Another of the Executive Producer's roles is approving the budget. The budget is created by breaking down the script by the line producer, which they then pitched for approval to the executive producer and producer.
Important Responsibilities of the Executive Producer During Production
How involved an executive producer gets during the production process is entirely up to the EP in question. Some do not seek further involvement with the picture beyond signing the check, while others keep a close eye on the movie from beginning to end.
Some studio Executive Producers may stick around a little more to ensure that the film reflects the studio's image and brand values. Other than that, the only other reason why an executive producer may visit the set is to answer any high-level creative or budgetary questions. There's no actual demand for the Executive Producer to visit the set during production.
Important Responsibilities of the Executive Producer During Post-Production
During post-production, the executive producer's responsibility is limited, and the EP may already be working on another project. Usually, the executive producer is expected to join the other executives to watch the first cut of the film and provide criticism and notes to the director and editor.
Are There Differences Between a Producer and an Executive Producer?
Although the Executive Producer is the highest-ranking executive in a film production process; they, however, have to collaborate with other types of producers, whose responsibilities are different.
Their responsibility may include a first look at a script or a book to an option, then engage a producer to carry out the project; discussing the budget of the film with the executive producer, but not necessarily getting involved in the day-to-day operations of production like the Producer.
Is There Any Difference Between a Film Executive Producer and a Television Executive Producer?
An executive producer in the television business does not have the same obligations as one in the film industry. An executive producer for television is a high-ranking producer who oversees the production from the top, comparable to a film executive producer. The show's executive producers do not support it, and they are nearly exclusively focused on its creative efforts.
The television executive producer role is usually multifaceted. It includes that of the show's creator, writer, and showrunner, which means they not only created the show but also assisted in the screenplay writing and oversaw the day-to-day production activities.
To Become an Executive Producer, You'll Need These Three Skills.
Firstly, a smart executive producer has to have good business sense and knowledge of the film industry so that they can figure out how and where to generate money. And this is particularly so in such situations as when the executive producer is also financing the film. This is what is known as marketing insights.
Secondly, an Executive Producer has to have a strong network of actors, directors, and agents, allowing them to hire the greatest talent for each project. Thus, an executive producer must have the guts for making tough managerial and budgetary decisions to keep a production functioning.
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Oct 20, 2021
by Eguaogie Eghosa