Film production in the context of "Film budgeting"

⭐ In the context of film budgeting, what is the primary distinction between a film's 'gross budget' and its 'net budget'?

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⭐ Core Definition: Film production

Filmmaking or film production, is the process of creating a motion picture. It involves a number of distinct stages, including an initial story idea or commission, followed by screenwriting, casting, pre-production, shooting, sound recording, post-production, and screening the finished product before an audience, which may result in a film release and exhibition. The process is nonlinear, in that the filmmaker typically shoots the script out of sequence, repeats shots as needed, and puts them together through editing later. Filmmaking takes place in a variety of economic, social, and political contexts around the world, and uses a wide range of technologies and cinematic techniques. While originally films were recorded on photographic film, most modern filmmaking is now digital.

The production of a film typically consists of five major stages. The first is development, where the initial idea for the film is explored, rights to intellectual property may be secured, the screenplay is written, and financing is obtained. This is followed by pre-production, where all the arrangements and preparations for the shoot are made, including hiring cast and crew, scouting and securing locations, and constructing sets. The third stage is production, which is when the raw footage and other elements of the film are recorded.

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👉 Film production in the context of Film budgeting

Film budgeting refers to the process by which a line producer, unit production manager, or production accountant prepares a budget for a film production. This document, which could be over 130 pages long, is used to secure financing for and lead to pre-production and production of the film. Multiple drafts of the budget may be required to whittle down costs. A budget is typically divided into four sections: above the line (creative talent), below the line (direct production costs), post-production (editing, visual effects, etc.), and other (insurance, completion bond, etc.). For productions distributed by a third party the budget excludes film promotion and marketing, which is the responsibility of the film distributor. Film financing can be acquired from a private investor, sponsor, product placement, film studio, entertainment company, and/or out-of-pocket funds.

When it comes to reporting the budget of a film, the amount of the budget represents the gross budget, which is the grand total of actual spending to produce the project and not to be confused with net budget, which represents the final out of pocket for the producer after government incentives or rebates ("If you pay $50 for something but have a mail-in coupon for a $10 rebate, your gross spending still amounts to $50."). One of the consequences of the Sony hack was the release of budget information of many films or TV shows, including the 2015 Adam Sandler film Pixels. The actual cost to produce Pixels, or the "grand total", was $129.6 million and the net budget for Sony came to $111 million after they received a government rebate in Canada that covered a portion of their gross spend (cost) in the amount of just over $18 million. Even though Sony's out of pocket for the film was reduced because of the incentive, it does not negate the fact that the actual cost (amount spent during production to make the film) was still $129.6 million.

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Film production in the context of Soundtrack

A soundtrack is a recorded audio signal accompanying and synchronised to the images of a book, drama, motion picture, radio program, television program, or video game; colloquially, a commercially released soundtrack album of music as featured in the soundtrack of a film, video, or television presentation; or the physical area of a film that contains the synchronised recorded sound.

In movie industry terminology usage, a sound track is an audio recording created or used in film production or post-production. Initially, the dialogue, sound effects, and music in a film each has its own separate track, and these are mixed together to make what is called the composite track, which is heard in the film. A dubbing track is often later created when films are dubbed into another language. This is also known as an M&E (music and effects) track. M&E tracks contain all sound elements minus dialogue, which is then supplied by the foreign distributor in the native language of its territory.

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Film production in the context of Film industry

The film industry or motion picture industry comprises the technological and commercial institutions of filmmaking, i.e., film production companies, film studios, cinematography, animation, film production, screenwriting, pre-production, post-production, film festivals, distribution, and actors. Though the expense involved in making film almost immediately led film production to concentrate under the auspices of standing production companies, advances in affordable filmmaking equipment, as well as an expansion of opportunities to acquire investment capital from outside the film industry itself, have allowed independent film production to evolve.

In 2019, the global box office was worth $42.2 billion. When including box office and home entertainment revenue, the global film industry was worth $136 billion in 2018. Hollywood is the world's oldest national film industry, and largest in terms of box-office gross revenue.

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Film production in the context of Independent film

An independent film, independent movie, indie film, or indie movie is a feature film or short film that is produced outside the major film studio system in addition to being produced and distributed by independent entertainment companies (or, in some cases, distributed by major companies). Independent films are sometimes distinguishable by their content and style, and how the filmmakers' artistic vision is realized. Sometimes, independent films are made with considerably lower budgets than major studio films.

It is not unusual for well-known actors who are cast in independent features to take substantial pay cuts for a variety of reasons: if they truly believe in the message of the film; they feel indebted to a filmmaker for a career break; their career is otherwise stalled, or they feel unable to manage a more significant commitment to a studio film; the film offers an opportunity to showcase a talent that has not gained traction in the studio system; or simply because they want to work with a particular director they admire. Examples of the latter include John Travolta and Bruce Willis taking less than their usual pay to work with Quentin Tarantino on Pulp Fiction.

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Film production in the context of Co-production (media)

A co-production is a joint venture between two or more different production companies for the purpose of film production, television production, video game development, and so on. In the case of an international co-production, production companies from different countries (typically two to three) are working together.

Co-production also refers to the way services are produced by their users, in some parts or entirely.

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Film production in the context of United Artists

United Artists (UA) is an American film production and distribution company owned by Amazon MGM Studios. In its original operating period, it was founded on February 5, 1919 by Charlie Chaplin, D. W. Griffith, Mary Pickford and Douglas Fairbanks as a venture premised on allowing actors to control their own financial and artistic interests rather than being dependent upon commercial studios.

After numerous ownership and structural changes and revamps, United Artists was acquired by media conglomerate Metro-Goldwyn-Mayer (MGM) in 1981 for a reported $350 million ($1.2 billion today). On September 22, 2014, MGM acquired a controlling interest in One Three Media and Lightworkers Media and merged them to revive the television production unit of United Artists as United Artists Media Group (UAMG). MGM itself acquired UAMG on December 14, 2015, and folded it into their own television division.

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Film production in the context of Film school

A film school is an educational institution dedicated to teaching aspects of filmmaking, including such subjects as film production, film theory, digital media production, and screenwriting. Film history courses and hands-on technical training are usually incorporated into most film school curricula. Technical training may include instruction in the use and operation of cameras, lighting equipment, film or video editing equipment and software, and other relevant equipment. Film schools may also include courses and training in such subjects as television production, broadcasting, audio engineering, and animation.

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Film production in the context of Film producer

A film producer is a person who oversees film production, from finding and selecting promising material for development, through to post-production, marketing and distribution of the film. They plan and coordinate various aspects of film production, such as selecting the script, coordinating writing, directing, editing, and arranging financing. The producer supervises the pre-production, principal photography, and post-production stages of filmmaking. In some cases, the executive producer may hire and delegate work to associate producers, assistant producers, line producers, or unit production managers, to assist the main producer(s).

A producer hires a director for the film, as well as other key crew members. The producer must ensure the film is delivered on time and within budget. The producer typically manages logistics and business operations of filmmaking, while the director makes the creative decisions during the production, although some directors also produce their own films.

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Film production in the context of Amblin Entertainment

Amblin Entertainment, Inc., formerly named Amblin Productions, is an American film production company founded by filmmakers Steven Spielberg, Kathleen Kennedy, and Frank Marshall in 1980. Its headquarters are located in Bungalow 477 of the Universal Studios backlot in Universal City, California. It distributes all of the films from Amblin Partners under the Amblin Entertainment banner.

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