How to avoid the pitfalls of film finance.
Law firm Reed Smith have created a helpful guide for new entrants into the film finance market that aims to help avoid some of the pitfalls (click the button at the top right of the image to go full screen).
The team has long been active in the film finance sector and recently worked on Mr. Turner, The Riot Club, A Most Wanted Man, Dad’s Army, Our Robot Overlords, Belle and Ex Machina.
Michael Maxtone-Smith, partner at Reed Smith, said: “The film industry is increasingly geared to encouraging new talent and making it easy, or easier, to enter the industry. This is a priority for a number of trade organisations like BFI, Pact, NFTS and The London Film School. Rightly the industry wants to encourage young and innovative, but inevitably inexperienced, talent.
“But whilst the process of making a film and raising finance is exciting, it is also daunting - particularly for those new to the industry. There are lots of different issues to think about and pieces don’t always fall into place in a logical order. Even those who have been through it before can forget important points.
“Not getting it right or forgetting stops on the way can create delays and mean that finance isn’t raised in time, or at all, for the project. In our experience, having a simple, but comprehensive, roadmap in place when getting a film made can help to keep the project on track and contribute to the smooth running of the process.”