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Celebrities
The
two uniquely important celebrity producer attributes
are ironically polarized in nature. The first allows them to be the
most powerful production forces in the industry: this is their relationship
with and access to the most powerful A-list directors and actors, as
well as heads of studios and private and commercial funding sources.
The other unique quality is their typical lack of global business expertise
and experience behind the camera. The chasm between these two qualities
renders star producers the most vulnerable as well as the most sought
after producers in the industry. Because of this potent combination
of power and vulnerability, star producers, more than any others, must
develop a thorough understanding of all the vital aspects of the global
business of motion picture production, distribution and finance. This
understanding would protect them from poor decisions, enable them to
move on opportunities with confidence, facilitate their discernment
to select and direct a crack development and production team, allow
them to establish achievable short and long range goals and financial
projections and empower them to organize the entertainment empire of
their finest vision.
Shed
the burden of introduction or demonstration of value, a star talent
can generate instant responses from other creatives, producers, studios,
and investors. In some cases a production company lot deal is arranged
with a studio against the offset of acting services, future pictures
or both. There are no free lot deals. Unquestionably it is "way
cool" and may fulfill a fantasy, but at what cost? There are good
lot deals--but you must know the criteria by which to evaluate these
deals.
Unfortunately, there is a natural tendency for those with lots of power to be over confident. We suggest Arnold Schwarzeneggar's credo, "Stay hungry." Stay lean, in shape, bright, informed, and ready to make the pictures you like, in the manner that is accountable to equal parts creative and business sense.
Often a celebrity producer will assemble the talent and resources of their peers, and will launch into projects with significant creative heft, only to find after substantial money and precious time have been spent that the studios are not interested in distribution. The unavoidable impact of this misfire is the loss of credibility among their creative contemporaries and awkward future relationships with studios and funding sources.
This process allows them to build confidence in or discover embarrassing traits about their pictures in the privacy of their own shops. Knowledge is power.
Have you pondered the industry's small core of independent production companies that are consistently successful in securing distribution through a major studio for EACH of their pictures, arranging credit facilities from banks for EACH picture's production financing, who fully fund their own development and pre-production advances for EACH picture?
These same production companies earn a profit on every one of their pictures. Not just some or most of their pictures, but EVERY picture. Why is that? Do they have more creative craft than the rest of the independent production community who generally struggle to sustain operating stability? There are other elements at play in addition to being creative.
A careful
study reveals there are seven principles and practices employed by this
small nucleus of powerful producers. These are in addition to basic creative
abilities common among seasoned producers. They are all business related.
They are all substantially easier to master than the creative. Using them
will dramatically increase a star talent's creative freedom, distributor
relations, and profit share.
The seven principles and practices can be found in a more expansive form
in The Producer's Business Handbook, available at major bookstores and
libraries. They are also taught once a month at Producer's Business Seminars.
If you suspect you could benefit from personalized help preparing or more
importantly engaging them into your organization, you are invited to schedule
a preliminary meeting with us.
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