Create your budget by assigning a dollar value estimate for each activity based on the cost of the activity and the length of time involved for the completion of the task. When providing the budget breakdowns to department keys or crew, do not disclose the full number. in communications technology, as well as significant work towards an M.B.A. in finance. More and more people are flocking to the small screen to find daily entertainment. The documentary film budget template captures and provides rough estimates of these unique expenses. Don’t forget all SAG hires, like the stunt team and studio teacher. in information systems, an M.S. Do you usually lump this in with overall contingency? You will need to pay the deductible if an expensive piece of equipment is involved. This week I have teamed up with Bruce Nash from The Numbers for a research project originally commissioned by the American Film Market. Determine the costs by checking with movie industry trade papers on average costs per activity given the scope of your film. Due to the secretive nature of Hollywood accounting it is not clear which film is the most … 63. While a film production budget template can help organize your pre-production, sometimes you need film budget software. Actors get sick, crew get hurt, locations fall through, weather doesn't cooperate, things get broken, damaged and lost. Before we dive into the first steps of how to create a production budget and start populating a film budget breakdown, let’s jump right into the basics of film budgeting. The contingency amount represents the financial padding set specifically aside to handle unknown issues. List the length of the activity. These small savings add up and help ensure everyone is paid on time. 65. Master the art of visual storytelling with our FREE video series on directing and filmmaking techniques. Each film budgets is unique. The longer shoots have more pick-up days budgeted. Since film budget software like Movie Magic Budgeting, Showbiz Budgeting, and EP Budgeting can run on the pricey side, we’ve created a free film budget template. Your email address will not be published. Film budgeting usually occurs in two different phases. And with a workers comp policy attached, the crew is also covered in the case of any injuries. Low estimates for the film placed the budget at north of $215 million, but in 2o12, Deadline estimated the film's budget to be between $225 million and $300 million. Film budget breakdown accounts and sub-accounts encompass these four categories: This category includes development costs, talent, and crew generally involved in development phase. Determine the costs by checking with movie industry trade papers on average costs per activity given the scope of your film. Overtime hours on a job are usually cheaper than adding another shoot day and that’s why we usually push through to get it done. And you will realize that making movies and making money making movies is possible. It’s more than likely that your keys will spend more, and crew will work more than budgeted. Decide whether or not you really want to make a movie. Any thoughts on how to take weather contingency into account? If you unsure what to use, find out what your team or peers are using. Add the totals for each phase with a calculator, and note them in a logbook. This is the fourth article in my series looking at the financial side of the film business. Pick-up days occur after the scheduled shoot days in order to shoot something that was missed during principal photography. For example, if you need the AD for 2 prep days, include 3 prep days. The thing to remember is long term perspective. Beyond the project type, the genre or specifics of the project also affect the accounts especially in the production and post categories. Optimism is great, but you must prepare for anything and everything that can go wrong. More data and/or additional revenue can result into this movie making more profit and moving up on this list. This film shows independent filmmakers that there trials and tribulations of making a film could be a lot worse. Production insurance covers the production in case of loss and damage. Some common reasons are: There are many film budget softwares available, Movie Magic Budgeting is the standard for film and TV. Sooner or later, you will figure out how to jump-start your next project. "Download StudioBinder's (excel-friendly) film budget template calculates all your film budget needs.". You’re calculating percentage-based fees. A film’s budget plays a dominant role throughout the film’s life cycle—with implications going far beyond the mere cost of the film. Create a post-production budget that includes all costs associated with finishing the film from the end of shooting. Whereas, a feature film shooting 30-45 days usually has at least 3 pick-ups days budgeted. Mark down everything you anticipate having to spend money on during this phase, and then assign costs individually to each activity to prepare the pre-production budget. Everything from the day you begin the film to the day you begin shooting. Larry Simmons is a freelance writer and expert in the fusion of computer technology and business. Movie budgeting contains the key information that you must have for your production. Assign all costs related to gearing up for the actual filming to the above-the-line budget. A visual medium requires visual methods. For filmmakers who have purchased our Film Financial Projections Template, this sample movie budget template will show you what number to use as your “Film Negative Cost, “ entered into Line #42, usually as the Medium Scenario.The number to use comes from Line #66 of the Budget Top Sheet, “Total Above/Below (Film Negative Costs).” The project type and genre play a big role in the structure of your accounts and sub-accounts on your film budget breakdown. That way you’re covered! Anyone vaguely thinking of a career as a producer needs to know how to make a film budget. Film budgeting is an essential part of the filmmaking process. The Texas Chainsaw Massacre (1974) Budget/B.O. Due to the extraordinary events late last year in the movie industry, there are now sources available online where you can find real VFX budget data for the first time ever. Calculating the costs for your budget is mostly a matter of splitting your film project into budgeted items, then assigning a cost to each.