Filmmaking as a business: a breakdown of the process

Hell'o, Akhil here!!!

Today I will be discussing about "Film as a business" Film as business is a complex, intriguing platform. It is a high-risk, high-reward industry in which fortunes can be made or broken in a flash on one film.

The Film Production Process

The filmmaking process can be shortened into five main steps:

Production is the stage during which the script of the film is written. The producer acquires the rights of the film's story, while the scriptwriter comes up with the film idea. Also, the producer gathers the filmmaking crew such as the editor, director, and cinematographer.

Pre-production: This is the phase where detailed planning is done. The script is finalized, the budget is set, and the shooting schedule is planned. The cast and crew are hired, and locations for shooting are scouted.

Production: During this phase, the director and cinematographer collaborate with the cast and crew to create the screenplay.

Post-production: Here, the movie is edited, the sound is mixed, and special effects are added.

Distribution and marketing: This is the phase in which the public distribution of the film occurs. The distributor works with the marketing department to create a campaign that will create interest in the film.

Monetary Flows

Movies earn money from various sources, which are:

Box office earnings form the most traditional source of income for movies. The total money return for a movie at the box office is determined through the number of tickets sold.

Home video consists of video-on-demand (VOD) services and DVD rentals and sales.

Television: Films are licensed to be broadcast on television networks.

Merchandising: Movies can make money from the sale of merchandise such as toys, apparel, and video games.

Export to other countries: Movies can be exported to other countries for distribution.

Expenses

Films' production costs can be quite varie, based on the budget. However, some of the typical costs are:

Development costs are the cost of scriptwriting, acquisition of rights to the script, and hiring the creative crew.

Production cost is the monetary expenditure incurred in producing a film, such as on the crew, cast, location, and equipment.

Post-production costs include the costs involved in editing the movies, sound mixing, and adding visual effects.

Distribution and advertising costs are the costs of making the movie accessible to the viewers, e.g., the costs of advertising and promotion.

Profitability

The profitability of a film relies on several factors, such as its budget, performance at the box office, and income derived from other means. In general, films with large budgets stand a better chance of being profitable compared to low-budget films. But it must be remembered that there are exceptions.

Case Study: How "The Blair Witch Project" Was Successful

"The Blair Witch Project," a 1999 horror film, was produced on a comparatively low budget of just $60,000. The film unexpectedly achieved a great deal of commercial success and earned more than $248 million at the global box office. The massive success of "The Blair Witch Project" can be traced back to several reasons, such as the film's creative marketing strategy and the film's novel found-footage aesthetic.