MORE MARKET, LESS CASH FLOW: KEY FINDING OF STI FILM FINANCE SEMINAR
In November this year, Film Board CEO Mark Woods convened a panel on the role of national film agency support in the co-financing puzzle for independent films.
In a lively discussion, Woods and Scottish Screen CEO Steve McIntyre both noted the importance of the local film agencies' initiating investment in local films, but concluded that the cultural remit of the agencies now extended to ensuring the films were not only made but also seen. This objective would be greatly advanced by the attachment of sales agents and local distributors at a much earlier stage than has been common practice to date, they said.
Producer David Collins and MEDIA DESK's Cait Barden also participated in the panel, noting that the MEDIA program has substantial funds available not only for the much-accessed development funds, but also for distribution support.
Another issue was cashflow for pre-production of films with multiple financing sources, including tax breaks. Scottish Screen's McIntyre announced that his agency would be most likely be following the lead of the UK Film Council in no longer cashflowing pre-production for films that had not yet closed their deals.
Other sessions included sales agents Fortissimo and Beyond - both of whom agreed that sales agents were looking to become involved with scripts at an earlier stage for the right projects. Indeed - tying in with the Woods-McIntyre concerns - they noted they were becoming less likely to pick up completed films.
The day concluded with information sessions on various other financing sessions, including participation from Ingenious' Duncan Reid and Royal Bank of Scotland's Heather Mansfield.