The thing is if you're gonna make a 100k movie you're probably gonna make more. So why spend 7k on renting when for 25k you can buy it and have it for you next 5films. I'm just saying but then again right now I've got 20quid and ain't gonna be buying anything.
The reason you rent for film production is because technology advances so fast that for features you don't get your money out of it.
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The other factor is the way the film is budgeted. Are your investors going to want to buy you a Red.. um... no. They are going to want to rent one, or maybe buy it with the intention sell it as soon as the shoot is finished. Those are the much more typical ways it's done.
"hey guys, spend 30K buying me a camera that I get to keep (money right out of your profits) instead of spending 7K to rent one!'
That plan will go over like a lead balloon.
It really just depends on the situation.
I have finally come to the point where I am buying some gear (my 5DMK2 should be here tomorrow), but on my first two films I rented everything, from the camera, to the lights, to the c-stands, to the apple boxes. I had 5K to make a movie, I couldn't buy gear AND make the movie for 5K, so I spent $1500 renting gear (which is less than the camera would have cost) and made the film. If you're starting a production company, or intend to crank out a lot of work (as I now plan to do) then owning is better.
My big problem with renting is that after it's over, you are back to square one, and have to come up with 7 grand again. Let's counterbalance that against a 5 year loan at 10% interest. Now you pay about 450 a month for your red camera. Since supplies are limited and rental is 500 a day, you can very likely rent out your camera at least an average of 1 day a month.
Here's what I've done. I called a local rental store and said "do you rent red cameras" NO. "would you like to?" YES. Ok camera store, why dont we strike up an agreement where you can call me when you need it, and I'll rent it to your store for 300 a day, and you can charge 500. OK, tell us when you have the camera.
To my boss "hey, lets quit spending 2k at the rental store for each contract, buy the equipment, and pay ourselves those rental fees instead" Boss: I like it, let's do it.
My final thought, quit budgeting for A film, and start budgeting for filming.
I see myself paying 0 dollars a month after counterbalance income, and paying off the camera in 2 years. That is cheaper and better than rental in every way.
I probably didn't mention that I shoot as a full time job, so that's probably why I see owning as better. It's all about your situation.
You know, CS5 allows you to edit with proxy footage. Meaning you can create the res and bitrate your decks can handle in real time, make your edits, then swap in the real footage for non real time processing.