SXSW 2012 Panel: Financing an Independent Film

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By Noelle Schonefeld

Tuesday marked the end of the panels and conferences for SXSW Film. That morning, Garrick Dion, SVP of Development at BOLD Films and Katie McNeill, VP of Production at Electric City Entertainment sat on the panel "Making it Happen: Financing an Independent Film." Aaron Kaufman of Troublemaker Studios served as moderator for the panel and also had great insight on the topic.

The main focus of the panel was the role of an independent producer, specifically related to movies with a target budget of $15-20 million. For low-budget films, the information was topical, but did not get into the specifics of selling the project or finding funding. The panel was most useful for someone who is or plans to work with an already established independent producer.

Topics covered included the types of projects to look for, working with first-time directors, and the role of "name" actors and foreign sales on securing funding. Each production office is different, but when you are talking about independent producers like BOLD and Electric City, they have to be savvy about what types of projects they choose to greenlight. Though they don't choose the same types of films and they approach the process of selection in different ways, the common thread of what they look for is a good story told in an interesting way that people would pay to see at any budget.

Having a really unique vision is essential in the world of independent filmmaking. Dion stressed the point that "Material and filmmaker are the only strength you have as an independent." They find filmmakers who are personable, whom people want to work with, and who can make a great film for nothing. The greatest trick in indie filmmaking is to make a low-budget film look and feel like it was made for millions more than it actually was.

The value and marketability of a project can be very fluid based on many factors. When you are talking about lower budget projects, producers have to determine if there are meaty enough roles and strong enough material in order to attract name actors even with a smaller budget. They not only look at whether a project will be profitable in this country, but, more surprisingly for indie films, how will it sell with the foreign markets. In many cases, the foreign markets are where a decision is made on whether or not it will receive funding.

Producers have to look at how a film will play internationally, and some name actors and material don't mean what you think they'll mean abroad. For McNeill, it's often about who can the movie be made with. It doesn't mean compromising on the creative vision of the film, but on finding someone who works creatively for the director but who also works financially for the film.

Noelle Schonefeld is the Development Apprentice at the Austin Film Society.