AFM Success (so far) for Pre-Sales on Feature Film

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Adamo P. Cultraro: http://www.imdb.com/name/nm2149571/?ref_=fn_al_nm_1

Cuba Gooding Jr. is the star attached to 'Hangar 14' project.
#1 direct-to-DVD action star.
http://www.the-numbers.com/people/CGOOD.php
Hmm... that doesn't reconcile with his IMDB credits. http://www.imdb.com/name/nm0000421/?ref_=nv_sr_1
Guess the-numbers numbers are just for theatrical releases. :(

$4m budget
$1m pre-sales at AFM
$1m x 2 "outstanding offers"
$1m tax credits (These credit money spent, which means he's still a mil short.)

Hoping someone else will come in with an equity offer.
Talks of MGM output access deal they have access to.

Told pre-sales people they don't write a check until principal photography begins to reduce their risk.

'Hangar 14' title itself sounds like a reuse of the same setting for 'Tactical Force.'
http://www.imdb.com/title/tt1458915/?ref_=nm_flmg_dr_1
"A training exercise for the LAPD SWAT Team goes terribly wrong when they find themselves pitted against two rival gangs while trapped in an abandoned Hangar, armed with nothing but blanks."​


Writer/Director: Tactical Force (2011)
Ratings: 4.6/10 from 3,812 users
Budget: $8,400,000
Direct-to-DVD, no thetrical release: http://www.imdb.com/title/tt1458915/companycredits?ref_=tt_dt_co#distributors

Writer/Director/Producer: Bad Ass (2009)
Ratings: 3.2/10 from 266 users
Budget: $1,100,000
Direct-to-DVD, no thetrical release: http://www.imdb.com/title/tt1193473/companycredits?ref_=tt_dt_co#distributors

Director/Producer: The Ensnaring (2006)

Writer/Director/Producer: Believe, Obey, Fight! (2008)
Doc
 
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rayw said:
Adamo P. Cultraro: http://www.imdb.com/name/nm2149571/?ref_=fn_al_nm_1

Cuba Gooding Jr. is the star attached to 'Hangar 14' project.
#1 direct-to-DVD action star.
http://www.the-numbers.com/people/CGOOD.php
Hmm... that doesn't reconcile with his IMDB credits. http://www.imdb.com/name/nm0000421/?ref_=nv_sr_1
Guess the-numbers numbers are just for theatrical releases. :(
Click to expand...

Thanks for putting the audio interview info in text, rayw!

Yes, I thought you could only list films on imdb if they are released, not in pre-pro. Said he plans to shoot in February, so that's what, summer before it's (possibly) released?

Two big take-aways for me:
1. He has name talent and must've guaranteed Gooding some $$ from his "equity guy" in case it all falls through. Would love to see the contract on that aspect.
2. He went to AFM with an experienced sales agent, which is also his producer. Wondering how he found him... Seems like a really wise move.

Since he's gone a number of times, would love to get directorik's take on all this (or others on the forum who've gone, pitched there).
 
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This interview is actually from a couple of years ago.

I believe the title of Hangar 14 was changed to Tactical Force by the distributor, and Cuba Gooding Jr. dropped out at some point to be replaced by Steve Austin.

The movie was released two years ago.

I think I listened or read a followup interview with the director, and he said that the final budget was a little over $3M, and that it was the most succesfull movie Steve austin has made.
Austin BTW is a big name in DTV action, in America especially he has a big following because of his WWE background. Most of his recent movies have sold well from what I have heard.
 
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@EuropeanDistributor
Thanks for the actual interview and film dates. Guess I missed it, oops.

So now I'm wondering if his strategy has current value for this/next year's AFM?...
 
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kjones said:
@EuropeanDistributor
Thanks for the actual interview and film dates. Guess I missed it, oops.

So now I'm wondering if his strategy has current value for this/next year's AFM?...
Click to expand...

Well, it's been some time time since I listened to it, but if I remember correctly, the "formula" was basically part pre-sales, part tax credits and part gap financing and/or equity?
If so, then yes, that is still relevant. In fact, a combination of those is how most indies budgeted $1M-$2M and up get financed, only the ratio will change depending on the package you have.

You can get pre-sales on a lower budget production too, but it will be harder to monetize them, since in order to get an entertainment bank to finance your pre-sales, your production needs to be bonded, and bonding companies don't usually deal with movies budgeted under $2M.

Of course it's also important to remember that things change in the business all the time. Some things stay the same, action, thriller and horror are still sellable genres, and they always will be, but the names that were highly bankable even two years ago might not be today.

Also you can make these deals outside of AFM and Cannes. If you have an action movie with Jason Statham attached, I guarantee you will be able to pre-sell it no matter what time of the year it is.
 
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rayw said:
'Hangar 14' title itself sounds like a reuse of the same setting for 'Tactical Force.'
http://www.imdb.com/title/tt1458915/?ref_=nm_flmg_dr_1
"A training exercise for the LAPD SWAT Team goes terribly wrong when they find themselves pitted against two rival gangs while trapped in an abandoned Hangar, armed with nothing but blanks."​
Click to expand...

EuropeanDistributor said:
I believe the title of Hangar 14 was changed to Tactical Force by the distributor, and Cuba Gooding Jr. dropped out at some point to be replaced by Steve Austin.

The movie was released two years ago.
Click to expand...
Very nice. :)
Makes perfect sense, now.
Thank you, ED.
 
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EuropeanDistributor said:
Well, it's been some time time since I listened to it, but if I remember correctly, the "formula" was basically part pre-sales, part tax credits and part gap financing and/or equity?
If so, then yes, that is still relevant. In fact, a combination of those is how most indies budgeted $1M-$2M and up get financed, only the ratio will change depending on the package you have.

You can get pre-sales on a lower budget production too, but it will be harder to monetize them, since in order to get an entertainment bank to finance your pre-sales, your production needs to be bonded, and bonding companies don't usually deal with movies budgeted under $2M.

Of course it's also important to remember that things change in the business all the time. Some things stay the same, action, thriller and horror are still sellable genres, and they always will be, but the names that were highly bankable even two years ago might not be today.

Also you can make these deals outside of AFM and Cannes. If you have an action movie with Jason Statham attached, I guarantee you will be able to pre-sell it no matter what time of the year it is.
Click to expand...

@EuropeanDistributor
Thanks for the follow-up and your thoughts!
 
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