Film production comes at a cost. Whether they are big-budget films or low-budget films; the fact is movie-making is an expensive venture. Big-budget films are so-called because they cost millions of dollars to produce.
The majority of people do not mention film production budget planning while discussing the glamor and glamour of the movie industry. Film budgeting is, without a doubt, one of the most important components of the production process.
Film budgeting is the process of preparing a budget for film production by a line producer, unit production manager, or production accountant. This document, which could be several pages long, is used to seek funding for the film's pre-production and production, as well as to lead to pre-production and production.
Although a pre-production film budget is mostly guesswork, some investors anticipate that production costs will be quite close to the final cost. The budget, in general, comprises all costs associated with a film's development, production, and post-production. As a result, the budget includes expenses such as screenplay acquisition, talent fees, and production costs.
What is Pre-production Budgeting?
Budgets for production must be submitted at least two weeks before any money is spent. The production budget has to take into consideration all the costs incurred throughout the project's life cycle, including pre-production, production, and post-production costs. A 10% contingency must be included in every budget.
How Do You Budget a Movie Production?
The first stage
Creating a film budget is determining how many pages you intend to shoot on each production day.
While there isn't a predetermined number of pages to shoot each day, on average, major Hollywood films shoot one page per day. While Indie films with a lot of money usually shoot four to five pages per day. On the other hand, films with a low or micro-budget may shoot eight or more pages every day. So, determine how many pages you'll shoot per day as you begin the financing process for your film.
The second stage is to make challenging scenes a priority
Dialogue is usually simple to film. Sequences with a lot of effects aren't.
Examine the page length for each challenging sequence. Double the page length for all estimations relating to that sequence if the sequence involves simple effects or moderately complex film blocking or movement.
Quadruple the page length in each scene breakdown if the sequence demands many effects or sophisticated blocking or movement.
Stage three, budget actors
Usually, a film requires a starring woman or man. One of the first components you categorize on your script breakdown form is the cast members. Look at each cast member's featured scenes and group them once you've broken down your script. Then use the earlier page calculation once each character has a count from your script breakdown.
Stage four, budgeting for contingencies
Contingency budgets are funds set aside in advance for things like reshoots, overtime, and other unexpected expenses. The majority of productions, however, do not use those funds.
How Much of a Film's Budget Goes to the Producer?
There isn't a set percentage. It's a charge that's been worked out. Some producers work for production companies and are paid a weekly fee while no work is being done and a greater price when a film is being made. Some people earn $30,000 every week, while others are paid $1, $2, or $3 million (or more) in one lump sum over some time. Some people may be offended by the image. Some people may be able to make money. It differs. It's based on what their lawyers and representatives have told them.
A well-thought-out film budget increases your film's chances of success in terms of both quality and earnings. Budget isn't just about having much money, especially if you're working on micro-budget short films; what counts is how you budget and use what you have.
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Oct 06, 2021
by Eguaogie Eghosa