Financing / Crowdfunding : Ask Me Anything (AMA) from Tuesday 1/30 to Wednesday 1/31- How To Attract Financing by Emma Louise Smith

Hi Emma Louise Smith - Looking forward to this and thank you for offering to share your experience with us! Check it out folks.

Hi, Emma Louise Smith. Hope your year's off to a great start. Thanks for having this AMA. How important is a pitch deck and a lookbook when trying to get funding?

Hi Emma Louise Smith , looking forward to your expertise answering some of our questions! I have been making a documentary (in post waiting for funding to complete) and I know that it would also be a wonderful scripted feature film. But I have not gotten it in front of any investors/producers - I know documentaries are necessarily money makers but would really like to know if somehow pitching the combo is every done, could it be done, what would you recommend. Thanks for any guidance tomorrow! (Unless it's the 30th sooner where you are!)

Thanks so much for taking the time to do this AMA for us Emma Louise Smith. When pitching to investors, how important is it to them for the project to have built in IP meaning, an already established audience vs a screenplay never produced in any other form? Thanks in advance!

Hi Emma Louise Smith , thanks for doing this! When looking for funding, how does someone know if it's a good idea to include international options?

Hi Emma, thank you for doing this. I wonder what you personally look for in a pitch before accepting it to recommend to your clients? Specifically I have pitch decks, script, sales/distributor attached and thus a plan for sales, I usually have a wish list actors in my deck but sometimes have LOI from actors willing to be involved and a budget. Is there anything else that would impress you? Should I have some money in? Should I have made films before ie have a track record? (I have) Is a slate of several films more attractive than a single film? Can you mix tv and film in a slate? Last in my questions can you please give contact details of any of other people like yourself I can pitch to?

Hi Maurice, likewise to you! & thanks for your question - How important is a pitch deck and a lookbook when trying to get funding?

It's a really good point and having those materials available is an important aspect. You want to communicate to the people you're meeting with that you've developed your project, that's it's been thought through beyond a concept or initial script. When you invest time into doing this it will also support your own understanding of the plan and what you're asking for. The more clearly you communicate the better your chances are of sparking genuine interest hopefully that keeps a conversation going to a positive end. Hope that helps!

Hi there Xochi! Thanks for being here and for sharing your question: I have been making a documentary (in post waiting for funding to complete) and I know that it would also be a wonderful scripted feature film. But I have not gotten it in front of any investors/producers - I know documentaries are necessarily money makers but would really like to know if somehow pitching the combo is every done, could it be done, what would you recommend?

So, I don't know the subject of your documentary - maybe you're thinking of making a doc-drama after the documentary? Whilst they are different genres, obviously, the initial project can definitely support your follow up film. If you have the opportunity to receive funding to finish your doc I recommend focusing on this first with an investor. It will be a great proof of concept and if you get it distributed you're able to prove an audience's interest in the subject and you're own track record of delivering a success. With that success you may find your initial investors or partners want to support you in the next project. My personal opinion is that pitching too many things at once can have a detrimental effect - unless in the conversation you uncover an interest in say a scripted feature in which case that's your cue to tell them all about what you have in the pipeline! Good luck with your next step Xochi!

Hi Leonardo - my pleasure to be here and thanks for sharing your question with us: When pitching to investors, how important is it to them for the project to have built in IP meaning, an already established audience vs a screenplay never produced in any other form?

I'm not totally clear on what is meant by a screenplay never produced in any other form - is that to say an original idea/story rather than an adaptation? I'll take it as this for now and if you mean something else you let me know, OK?

An investor is going to look at several aspects when assessing a project - the creative team, cast - is the core team solid and showing an ability to deliver, track record/experience? The budget versus returns; is there a sales and distribution strategy that's been defined, is the finance plan strong? And yes, for sure what the audience for the film is, that doesn't have to necessarily mean that you have to replicate to an existing audience. There are a lot of niche genre films with an audience. What I think is important is that you've defined an appropriate budget for the film and it's audience accordingly. Sometimes you'll find a niche is way more able to crowd fund for example as you know where your audience 'hang out' to target them and find support. More so than a wide appeal rom-com for example. These are all the details for you to ask of yourself whilst you develop your overall strategy before targeting investors. I hope that answers your question Leonardo.

Where do you suggest hopefuls look, when seeking investors?

It surely does, Emma Louise Smith - and yes, I did mean an original idea/story, rather than an adaptation. You are very kind to share your knowledge and experience with us, Emma. This helps tremendously! Thank you!

Hi Niki, thanks for being here & thanks for your question: When looking for funding, how does someone know if it's a good idea to include international options?

Would you mind expanding on what you're meaning by international options please? Do you mean sales outside of N. America or funding options outside of N.America?

I'll go with funding for now and if this doesn't answer the intended question just let me know!

For sure looking at international co-productions is a great idea if your film fits into the criteria for soft money from another country. You want to review this with the film commissioners outlines online where you can find the criteria required to qualify. If your story or documentary is telling a story based elsewhere or if you have key crew or producers from overseas you should definitely review that country. When you're building your finance plan you want to check if there is a fit for you to create some of your project internationally. The presence of soft money in your FP is going to give you a really good start if your project suits the requirements and I highly recommend looking at it. Aside from the finances working with a strong overseas co-producer could have multiple benefits from say, just staying within your own territory.

Hope that answers your question!

Thank you for sharing your time with us today, Emma Louise Smith! At what stage(s) do you feel its best for filmmakers and producers to begin approaching investors?

Hi Emma, thanks for taking the time to answer all our questions.

I’m the producer on a short film (UK/GERMANY/SPAIN) and our budget is 25-30k€. I’ll be looking at private investors for part of not most of the money. The chance that they will see a return in their investment is rather slim. My question is, in your experience, what has made investors say yes to a project when they know that there is little (if not nothing) in it for them?

Thank you for your time.

Thanks for the answer, Emma Louise Smith. What's the biggest mistake you see when people try to get funding?

Hi Emma, thanks for your time on this AMA! When it comes to domestic shoots and utilizing available tax incentives/rebates for filming in certain states and cities, is there any particular advice you might give to upstart producers just beginning to navigate putting films together? Thanks so much! (Oh, I just saw you are Monaco-based. Feel free to flip the question to US-based producers looking to film outside the US, perhaps as a US+Other Country/Producer/Co-Production, while still seeking tax incentives/rebates.)

Hi Emma Louise Smith - thank you so much for being here for this AMA! A friend off mine sold a project to a studio w while back and it reverted to her. There is a small lien against the property but not much. How would you position this with independent investors? The film clearly had enough potential for a studio to pick it up and develop it for a while but there is a sense that the money owed to the studio - again, not very much, may be a deterrent to indie investors. Would love any advice that I can share. Thank you!

Thanks Emma Louise Smith for giving us your time here. I would assume that investors are like anyone else and have specific genres or types of projects they prefer to attach to. How important is it to understand all there is to know about an investor, what they've supported in the past, and how they prefer to receive their pitches -- before sending them an ask?

Emma Louise Smith thank you for doing the AMA, Emma. It will really help the community here at Stage32.

I was wondering what the difference is in expectations between investors and philanthropists, in regard to dealing with them as a Producer, because I assume there is still the demand for a successful release of the film? Also how do you manage the philanthropist, and their relationship to the project?

hi Emma. Thanks for your time and doing this AMA to further our knowledge.

I’m a director/ writer and owner of Ksar production in Morocco. I’m currently in search for private fundings or co production for my first thriller/ horror feature film aiming for international distribution ( original content and cultural touch). my goal is to create even more content for the international market.

what would be your advice for:

1. Are there any wealthy individuals or organizations that have a history of supporting African film projects or independent cinema?

2. What unique selling points does the movie has to have that might appeal to potential investors or donors?

3. What kind of budget do you need to produce the movie, and how much funding can you seek with no internal known actors or movie director?

4. Are there any wealthy individuals or organizations outside of Africa that have an interest in African cinema or horror movies that you could approach for funding? if so how to approach them?

thank you for your insights and expertise in that matter.

Hi DT - That's a fab question. There are a lot of online resources to give you information about state by state or county by country tax incentives. Go to www.thelocationguide.com/benefits/ for a global view and for the US a great start is to join up with filmusa.org. Film commissioners want you to know about how they can attract your production to their territory so definitely reach out and find a time to meet with them.

Hi Jane - thanks for your great questions! For me to represent a film I want everything you have listed to be in place! The added aspects you mention definitely impress and add weight to your goal - a track record for sure and if a Producer has invested it shows commitment and that they believe in the film. Other things that impress me is having things organised - it bodes well. If I ask to see the chain of title and the FP and someone shares a google drive link with the full due diligence docs and production templates, has a draft investor agreement for me to review... I'm impressed or rather I know we are on a professional footing out the gate. For slate vs. single project - know your audience! Share what is appropriate, if I'm repping a fund looking for returns a slate is great if you're speaking with a private investor (individual) then I wouldn't go with the wide approach.

Hi Annelies, in your example an investor is going to fall into a couple of categories:

- they want to support the subject matter of your art

- they want to support the career development of the artists in the project

This is if you're looking at a benevolent individual, one who supports the arts and loves film.

You may find a wealthy individual who wants to enjoy the experience of funding a film, visiting set, seeing their name in the credits etc. etc

Or you may find a way of creating a tax efficient structure with your film that benefits the rest of their investment portfolio and ticks all the above too!

Hi Debbie - you're welcome and thanks for your question. I always would research the person who's about to give me their time to meet up or sending anything. If you uncover someone has supported a genre before or supports a cause or subject/works in a certain field - for sure it's more likely on paper to be a fit. For delivery, if someone says no unsolicited scripts I wouldn't waste your time. Find a way to meet them or their team I someone approaches me after I've spoken on a panel I'm always going to give that person my time. If you send me your script when we've never met, it's less /unlikely to get my time.

Thanks for the great info, Emma. Appreciate ya! -- DT

Hi Maurice - that they don't have their ducks in a row yet and didn't do the housekeeping before asking someone to take a look! If you can't answer the questions you're likely to be asked or you don't have a plan and materials in place ( same thing almost) ... weak start to the conversation.

I have a question about going after a small investor to secure additional talent before taking a project out. I have a project with a name actor and director attached, but it seems we need to fill out the rest of the roles. Is there an existing strategy where initial money can be secured in order to get talent reads?

Hi Sam, tricky to know exactly how to answer this but broadly based on the info - I guess I'd ask you why the investor would take on that cost? If it's small then it can be deferred and paid out of the profits of the creative team who own the IP? I'm unclear if you're saying for her to sell it outright to an investor to develop and produce - in which case sell it for a fair price. Or, if you mean for an investor to fund and who'll take a share in the profits... then consider to take the lien repayment out from another pool if you want to incentivise your investors to commit. The risk of not looking at it, at least from this perspective as an option, is you inflate the cost and reduce the ROI. I'd rather see something happen and take less money amongst my Producers than I would offer an ROI that isn't appealing and wind up with no investment... or film made.

Hi Steven, if you're looking for individuals then look to the establishments you'll find wealthy individuals - yacht clubs, members clubs, collectors clubs. Art events, gala events or similar benevolently themed occasions. You can also try private wealth managers and family offices, private bankers who either themselves may have an interest or manage clients investments who could be keen.

Thank you for the answer, Emma Louise Smith. Thanks again for having this AMA. I learned so much! Have a great rest of your week and weekend.