The Struggle Independent Filmmakers face Post Covid-19

The global marketplace for independent film has been beset with numerous obstacles for several years. The once-booming DVD market has been in decline for over half a decade, resulting in massively reduced revenue streams upon which to bank on, and the big streamers (Netflix and Amazon) have started buying less, and paying less for what they do buy, as well as making more and more of their own content. Distributor's have also been eschewing MG's in favour of distribution deals, and therefore the concept of pre-sales has somewhat collapsed.

Some savvy producers latched onto the opportunity to have productions funded by the top streamers, and have been producing for them over the last couple of years, but producers are handing over finished films (and series) for a fee, rather than taking backend deals and are relinquishing control over how their films are marketed or released. It's more a form of surrogate parenting, but at least they are producing content that is well-funded and widely seen.

I have come into contact with a lot of scriptwriters and aspiring filmmakers over the last couple of years and most simply have the urge to make a film. There is often little understanding of what that means in terms of getting it packaged, financed and distributed in the current climate. Pre-sales, a once relatively robust method for gap-funding, have been in decline for a few years and with Covid-19 now playing havoc with the sales side of the business, who can really now rely on pre-sales to bridge finance plans in the near future? How will international sales estimates look over the next 18 months, compared with how they looked during a fully running sales market environment? Estimates from even a year ago must already look wildly out of date.

This causes a huge problem, as many fledgling productions - who may be able to bank on a tax credit, a post deal, and even some soft location funding remain stuck with this gap, a void which they simply can't bridge. And I think it's fair to say that times have rarely been tougher in terms of seeking private equity investment, which also has a lot to do with less attractive tax incentives since EIS funding rules changed.

Attaching cast can be the catalyst to unlock further funding, with the confidence that can bring to a project, but with the delay in productions resuming, actors are likely to opt for bigger, better paid, projects in order to make up for lost time during the hiatus, making it even harder for indie producers to attach bankable names to their projects, at least in the short-medium term - and who can afford to just sit back and wait without finding another day job?

It seems to me that working with established producers, production and funding entities - such as Film4, the BFI, BBC Films etc. or a well-established, integrated sales agent/producing and funding partner - a partner that can help you really package a film, is the only robust way forward for independent producers. Either that or go down the ultra micro budget filmmaking route. A leading distributor in the home entertainment space recently said they would look at picking up a strong genre film if the budget were around the ￡200,000 mark. Nobody earns anything upfront producing a film at that level, and it's incredibly tough to pull it off, as well as being hard on the crew, with everyone working all hours a day, on six day weeks etc.

Utilising co-production opportunities, attaching established directors, casting agents and producers and filming in areas with excellent tax incentive schemes, alongside collaborations with strong sales and distribution partners is possibly the only real way forward for indie producers and writers. And this involves a lot of development, which also needs funding. To ultimately get into this space you need to have truly outstanding original material, or be in possession of established and known, bankable IP.

There is, and always will be, a market for great content, but being in possession of a good screenplay alone is just the start of a long and arduous journey, and it's only worth embarking on that voyage if the material you're holding onto is nothing less than exceptional. If you're getting your script read and rejected, it may just mean that it's not strong enough and needs further development or you might have to consider moving onto something stronger instead.