By Jeanette Guaman
Earlier this month, founders Katherine Winston and Amy Baker hosted an incredible lineup of speakers at the 12th Annual Entertainment Finance Forum on February 13th at the Skirball Cultural Center in Los Angeles, CA. Sponsors included Akin Gump, BDO, Fifth Third Bank, Ramo Law PC, and West End Capital and Advisory.
The event started with intimate and highly interactive workshops led by content financiers, production companies, venture capitalists, agents, brands and influencers.
During the VC workshop we learned that:
There's more capital than ever before (yay)! This is the time to raise capital.
When evaluating whether to invest in a company or not, investors ask themselves "is this company recession-proof?"
There are more technology tools to validate an idea – so use it!
Proof of concept demonstrates the value in the marketplace.
Startups must be able to demonstrate the ability to adapt to market changes.
The Straight to Streaming workshop broke it down:
When you agree to have a streaming service distribute your film, most will also have the license to distribute the film to other companies such as airlines and others. So read up on that contract or don’t be surprised if you see your film on an airplane!
Streaming companies don't provide you with raw data for the amount of traffic your show is receiving. For the most part, all you’ll get is a thumbs up or thumbs down on how well your show is performing. And that can be frustrating!
Most streamers prefer to distribute a film when it's been completed. So go find your own financing!
From Left: Marissa Román Griffith, Partner, Akin Gump; Lyndsay Harding, CFO, UTA; Mark Lebowitz, CFO, Bunim/Murray; Louis Santor, COO, Village Roadshow; Darrell Cross, CFO, MarVista; Effie T. Brown, CEO, Gamechanger Films; Alex Iacobelli, Partner, BDO; and Vince Totino, CEO, Revolution Studios.
State of the Industry panelists revealed that:
Companies that finance independent films are partnering up more than ever with each other to reduce risk and cost of loss.
Netflix prefers to cancel shows going into Season 4 due to production costs. Since the production cost increases after each season, Netflix usually prefers to cancel and utilize that amount of money to fund a new show that can finance two seasons of that new show. Oh dang.
So much more was revealed at the Entertainment Finance Forum – but you would have had to be there to get the inside scoop!
If you missed it, check out Winston Baker’s next event in New York City on April 23rd. More details on the Script to Screen Summit are here.
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Jeanette Guaman began her career at United Talent Agency where she facilitated IT services for Agents and high-level executives. During her short but meaningful stint at UTA, Jeanette found her passion for creative development. This led her to her next role at RACE FILMS where she currently develops a slate of projects as an independent producer. On a day to day, Jeanette secures meetings with agents, talent, directors, and financing partners. As a native of San Fernando Valley, Hollywood was a close but distant dream. Jeanette forged her path in the industry through hard work and perseverance and spends some of her time giving back working with organizations like Women in Film. She enjoys finding new voices and championing creative projects with writers and directors.