Budget?

Owen

Owen

Hi guys.
I'm making a surf film over the next 3 years. I'm being asked by people (mainly music record companys) what the budget is. I have no budget worked out. I' m basically throwing money into this as it comes.
How do i answer this question? I'm guessing total costs could be around $200k but thats just a wild guess and it could triple that or anything if it gets some good backing.
Do i just answer low budget?

Any suggestions?
Thanks
Owen
 
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Welcome to IndieTalk!

If the only information you have is that it's a surf movie being shot over three years I'm not surprised. Is it just you and your camera, shooting every other weekend? Or are you planning on using the Phantom HD Gold every day over three years with thousands of extras in elaborate costume? I don't know, but you must be able to take an educated guess, even if you just work out who you're paying and what equipment you're buying and/or renting.

Even if they're only asking out of curiosity (i.e. not planning to finance you/distribute the end product), if you give them an actual number it might make you look bad if your estimate's way off. And even if they weren't asking, it still sounds like you could do with working out how much you're planning to spend.
 
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Yes i have added very little info here sorry. My main concern like you noted is if my educated guess is way off. So rather than give an exact figure could i use a $200- $500k range or would i be better to say that the "budget has yet to be finalised"? Or is there a better way the industry professionals would word it?

Thanks
Owen
 
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I'd give them what you are currently projecting because whether or not they decide to finance you or whatever havng a budget (in my experience) makes a huge difference because they see not only that you are serious about your film but that it has a direction.
 
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I'm going to go out on a limb and make an assumption:

These music company people are asking about your budget
because you are asking about music rights. Am I right?

If I am, the answer to their question is "Under $200k. Maybe
well under." Music companies won't be able to answer your
question about rights with a ball park figure. And if I'm correct
I wonder why you are asking about music rights so early.

If I'm wrong then I wonder why music record companies are
asking about your budget. I might be able to help you answer
them better if I knew why they are asking about your budget.
 
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Are you asking about how to make a line item budget?

If so, the short answer is to line your script for locations, actors, props, special effects, makeup, anything that you will need.

Then you do what is called a break down where you create a sheet for every scene which lists all of these supplies/people/resources needed. Then you put that into excel or similar software and consolidate it.

From there you can organize a shooting schedule so you know how many days it will take and therefore how much each location will cost, how many days you will have to pay individual crew members for, and all the supplies you will need.

I've read that after you have broken all of that down and have your budget, to add 10% or so as a buffer.

Hope that helps. :)
 
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Here's the budget, as I imagine it --

Camera and equipment: $5000
Airfare: $20,000
Car rentals: $20,000
Surf equipment rentals: $10,000
Per diem: $30,000
Hotels: $50,000
Craft services: $40,000
Using your endless-vacation expenses as a tax deduction,
by shooting a video, and calling it a business expense: PRICELESS!

I'm just kidding, man. Sorry, I don't have an answer to your question,
I just couldn't resist the smart-assery. Sounds like a really fun project.
Best of luck.
 
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Documentary Alcove. Yes directorik i am speaking to them regarding music rights, yes a little early but was just trying to get an idea on what it would cost for the rights for this film. I'll take your advice and pick a figure under $200k though. I also thought if i came in with a high budget they would over charge the rights and if i came in too low they may not give the rights due to making their music look bad in a low budget film? Maybe i'm just thinking too much. No probs cracker, way off with your budget but thanks for the laugh. And no dready not asking that thanks.

Thanks for all the quick replies guys i'm sure i'll have many more questions to come over the years

Owen
 
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Owen said:
Yes directorik i am speaking to them regarding music rights, yes a little early but was just trying to get an idea on what it would cost for the rights for this film. I'll take your advice and pick a figure under $200k though. I also thought if i came in with a high budget they would over charge the rights and if i came in too low they may not give the rights due to making their music look bad in a low budget film? Maybe i'm just thinking too much.
Click to expand...

You aren't thinking too much. You need to have all this in
mind as you shoot over the next three years. But publishers
aren't going to be able to give you a quote without all the info.
They rarely quote a range based on your total budget. In other
words, they don't have one price for "low" budget and another
for "high". They will offer a quote based on many factors.

They may not offer the rights to some music at all. You never
know until you ask and you really need to ask after the film is
complete. I understand that this creates budget issues for a
movie maker, especially if you have specific cuts that are essential
to your project. The harsh reality on a project like yours is you
may not be able to afford some of the cuts you really want. The
good news is there is so much amazing music out there that you
will be able to find and afford some really good stuff after you have
finished shooting.

It can't hurt to ask - but as you have already seen, the publisher
wants to know more than you are ready to submit. It might be
better to wait.
 
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Thanks Directorik you've been very helpful. Yeh goober i've always used unsigned and locals in previous films without charge, i've even had a few well known songs free. Like Diretorik said you never know until you try, just got my heart set on a couple.

Thanks
Owen
 
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