THE MUSE #97
In this edition: Celebrate the streaming debut of Jurassic World Dominion (now on Peacock) with the ultimate Jurassic Park quiz. Plus, check out Nine Muses’ breakdown of indie film budgeting basics.
From the Howard Archives
“The Jurassic World Dominion Cast Takes A Jurassic Park Trivia Quiz”
To celebrate the premiere of Jurassic World Dominion, BuzzFeed had members of the cast take the ULTIMATE Jurassic Park trivia quiz! So, how did Chris Pratt, Bryce Dallas Howard, DeWanda Wise, and Jeff Goldblum do? Watch the video above to find out.
Let’s Talk About Indie Budgets: Part I
by Saralyn Armer, Nine Muses Production Executive
Welcome back to Production Muse, a space for getting creative about the business of entertainment. Every month, Nine Muses Production Executive Saralyn Armer shares practical advice for “making it” as a multi-hyphenate artist in the industry and essentials for navigating a career in the arts.
Let’s say your script is in a really good place and is ready for the next step — making it into a film! Now all you need is money… but just how much do you need and how do you get it? Before you can ask anyone for money, you need to make a budget.
“The budget” is a huge topic with a lot of facets, so over the next few weeks, I’ll do a deep dive into a few specific budgeting topics like:
Film budget basics, including essential line items (also known as expenses) as well as expenses that can be overlooked at first.
Tips on researching pricing, how to save money and trim your budget;
And best practices for crowdfunding and raising money
For this weekend, we’re going to focus on film budget basics like how to make a script breakdown that organizes all the elements that need to be budgeted, essential and frequently forgotten line items to include in your budget, and recommendations for budgeting software.
As a producer and filmmaker, you need to know just how much (or little) money the film will cost. Maybe you’ve heard the phrases “above the line” or “below the line” while working but don’t quite get what that’s about? “The line” refers to how the budget is split and where all the costs for the production fall; all expenses are either above that line in the budget or below it. Check out Studio Binder’s “Intro to Film Budgeting” blog post for low, mid, and high tier budget examples.
The Breakdown
In order to figure out which cost tier your film falls into, you need to create an accurate budget based on an initial breakdown of all the elements in the script. This way all the nitty-gritty details of what to budget are accounted for and you can figure out roughly how many days it will take to shoot — a good rule of thumb: look at your overall script page count, then depending on the work at hand, typically shooting 4-5 pages a day is a full day. The Film Fund has a great video from High Concept (Breaking Down a Script) and an article that tackles this topic a bit more in depth.
Essential Line Items
A few of the essential line items you will budget for are: principal cast, all crew members, department gear and tech, art and design, props, locations, permits, production insurance, parking, special effects, and stunts. Don’t forget about prep days and post-production days, and most important, food. Please feed your crew well! Don’t skimp here. Good food can be a morale booster. If it’s an indie, set aside some funds for some festival submissions too. Those tend to add up fast when you are trying to get your film in front of an audience, and isn’t that the point?
Forgotten Line Items
There are some pesky line items that can be forgotten… until they aren’t. Remember to budget for background actors, specialty actors and gear (like stunt doubles, stand-ins, crash pads or rigs) and look at what kind of props are in each scene. Are there “hero” or specialty props or any vehicles?
Is there anything in the script that requires production/ graphic design or specific art details? For example, back in 2014 when I was shooting the indie film Always Worthy (Amazon), the visionary director Marianna Palka had a specific mural she wanted on our heroine’s apartment wall. Our incredible production designer, Megan Greydanus spearheaded this undertaking to bring the vision to life as well as fit it in the production design budget we had earmarked.
Do you have a set photographer and/or a dedicated social media manager? Those BTS (behind the scenes) images will be crucial down the road. Make them good.
And nobody wants to think about this, but understand the expense if damages to any rentals or locations happen. Know the fine print for what you would owe or lose if damages happen during production (repainting walls, scuffed floors, broken ANYTHING!)
Make every line item count but don’t short change the production. Going over budget is the last thing you want. Even the largest productions build in 10% for contingencies. Changes, overruns, and rescheduling always come up and it gives you a little wiggle room to pay for those unexpected expenses.
Budgeting Software
There are numerous budgeting softwares out there that you can pay for if you aren't grandmothered in with someone or a company that passes them down, but they will either cost you in money or your time. Big shows tend to use Entertainment Partners Movie Magic or Media Services Showbiz Budgeting, but they can get pricey (both offer free trials ranging from 10-30 days). There are less expensive options like Celtx as well as free templates you can track down like Studio Binder’s free film budget template for video production or Google Sheets’ Film Budget Template.
The bottom of the barrel option is to use plain-old desktop Excel and painstakingly build out your own (I highly encourage plugging in formulas to do the math for you). The size and scope of your script will help guide you on which option is right for your production plus what you can currently afford. WrapBook did a comprehensive breakdown of 2022’s 6 Best Film Budgeting Software that can help narrow down the search plus there’s a quick paragraph on budgeting when working with SAG-AFTRA (as working with unions is another beast altogether!).
In conclusion, the budget is like caring for a toddler. It needs constant detailed attention so it doesn’t get into trouble and burn the place down. The initial overall budget you create for investors will be your guiding light so as you move into prep and production, make sure your production budget doesn’t vary too far from the course you’ve set. Just as a day's plan can shift in a heartbeat, the budget will need to be consulted and adjusted accordingly. But the budget is there for a reason; don’t spend money you don’t have.
In Part II of this budgeting series, we’ll do a deep dive into how research on pricing is your friend, where to save some cash, and if there’s a way to find money in your budget out of thin air.
Newsworthy & Opinions
Accessible Festivals launches a free access ticket program for disabled concertgoers to attend the country’s biggest events like Lollapalooza, Austin City Limits, Stagecoach, and more.
Venice Film Festival jury president Julianne Moore this afternoon extolled the importance of keeping art top of mind when talking about the future of cinema.
“Writing is total grunt work. A lot of people think it’s all about sitting and waiting for the muse. I don’t buy that. It’s a job. There are days when I really want to write, days when I don’t. Every day I sit down and write.”
Newsletter run by Nia Farrell, Director of Development & Production at Nine Muses Entertainment
