The traditional system has hit a snag. Streaming services have thrown a spanner in the works. The pandemic’s shockwaves are still reverberating. Hollywood is restless. AI is coming. The stakes are rising and the net result is that while there hasn’t really ever been a guaranteed way to make money off your film… it’s got a lot harder. Having so many options and living in a time where film-making technology has made it possible for anyone with a smartphone to go out there and make movies… it seems ironic that it’s also one of the hardest times to turn a buck from your film or film concept.
Maybe it’s the proliferation of technology that has created this situation, enabling digital services to undercut the more costly exercise of going to the movies. Or, reducing the costs of film-making to the point that there’s always someone who can do it for less. Or, creating a global market where you can outsource your film, crew or entire production to places where tax schemes or labour laws make it easier to get away with more for less.
The system may be in a state of flux but there are still some tried-and-tested ways to monetize your movie.
One of the first ideas that comes to mind is of course video-sharing platforms like YouTube or Vimeo. We can’t all be Mr Beast but generating revenue through ads can lead to a reasonable income stream for consistent content creators. While doable, the platforms have become more stringent with time, making this YouTube partner facility specifically for users who have a minimum of 1,000 subscribers with at least 4,000 watch hours per year. No one said it was going to be easy!
If you wonder why filmmakers send their movies to film festivals… there’s good reason. It’s not just so they can get a bunch of laurel icons to add to their posters to prove they are indeed festival material. It’s also to win awards, gain recognition, land a cash prize or possibly lure distributors or industry professionals to engage with them through their work.
When it comes to licensing, you can approach the likes of Netflix, Showmax or Hulu but it’s a very competitive market. For short films, platforms like Shortfundly or GudSho are a good bet.
Another smart way to attract funding or sell your film is to align with brands and businesses that tie into your film’s theme or message. You could feature their product or look at sponsorship deals in exchange for marketing their offering.
Having been around for a good few years now, crowdfunding is still a useful option when it comes to funding your project from future fans. Platforms like Kickstarter or Indiegogo ensure you can get your project off the ground if you can get enough people as excited about it as you are. Offer rewards, perks or even credits in exchange for contributions.
Attending film markets and conferences to network and meet possible distributors or pitch your work is another way of attracting business to your next production. It’s not an exact science but these days, it’s really whatever works. Much like making it as an actor in Hollywood, it’s not purely about talent… but luck and timing too.
Strive to do great work, put in the effort when it comes to realising your project’s true potential and get the word out there by building a strong online presence to boost your opportunities and chance of taking your film to the next level. Good luck!