Preparing Pitch Materials to Secure Financing for Your Feature Script
Preparing Pitch Materials to Secure Financing for Your Feature Script
By: Grace Santos
September 6, 2024
Whether you’re a seasoned filmmaker or just starting out, creating the right pitch materials is crucial to securing financing for your feature film.
With over 14 years of experience in the industry, working for finance companies, production companies, and distribution companies, and working across departments such as business affairs, legal, creative development, production, and operations, I’ve seen firsthand what works when pitching to studios and investors.
Below, I’ve broken down the essential materials you’ll need for two common scenarios:
- Pitching to an established company that has a positive track record in producing films
- Pitching to Investors/Financiers and you retain more control of your film
Scenario 1: Pitching to Established Production Companies
When pitching to established companies that have a proven track record in producing films, you need to make a strong first impression with polished materials. These companies typically handle all the heavy lifting once they option your project, so you don’t need to worry about providing a full financial breakdown. Here’s what you’ll need:
- Screenplay: Your script should be polished and reviewed multiple times. Consider hiring a professional script doctor to refine your work. Simple issues like typos, lack of structure, or one-dimensional characters can turn off a potential company. While some companies may have development funds to work on scripts with potential, most will only respond to high-quality, ready-to-shoot material.
- Logline, Short Synopsis, and Character Descriptions
- Writer’s Bio: A brief introduction to your background and relevant experience.
- Director’s Materials (if applicable): If you have a director attached who hasn’t yet helmed a successful feature, include:
- Director’s reel
- Director’s bio and resume
- Director’s statement
- Director’s lookbook (a visual guide showing how they envision the film).
- Producer’s Bio and Resume (if applicable): If a producer is attached to the film, and the producer is still building a track record, include these.
- Actor’s Reel and Bio (if applicable): If an actor is attached who is not A-list or B-list, provide their reel, bio, and resume.
You do not need to include a full analysis of the financials of comparable films, a business plan, pre-sales, a budget breakdown, etc. If the company likes your project, they will likely ask you to sign an Option Purchase Agreement and take over from there.
Side note on attachments:
Be selective on who you attach to your project. Some companies might be reluctant to take on a film with too many producers, a director who can’t attract A-list actors, or actors who don’t trigger pre-sales or negative pickup deals.
Scenario 2: Pitching to Investors/Financiers and Retaining Control
When you’re pitching to private investors and you wish to maintain business and creative control over your film, the required materials are much more detailed. You’ll need to convince potential backers not only of your story but also of your film’s financial viability. Here’s what you should prepare:
- Pitch Deck:
- Short Synopsis
- Summary Page (logline, a brief casting summary, and an overview of the financial plan) (1 pg)
- Target Audience
- Character Descriptions, Attached Cast
- Director’s Bio and Links to the Director’s Reels
- Director’s Statement
- Director’s lookbook (a visual guide showing how they envision the film)
- Bios of Key Team Members (producers, writers, key crew)
- Timeline for financing, casting, pre-production, production, post-production, delivery, and distribution
- Financial Plan:
- How much funding are you raising?
- What will the funds cover? Are the funds only for production or also for marketing and other costs?
- What’s the minimum investment required for each investor?
- What are the investor’s returns (premium, backend split, etc.)?
- The Waterfall (Detail how and when investors will get paid. The “Waterfall” refers to the order in which profits are distributed among stakeholders).
- Distribution Plan
- Marketing Plan
- Are there pre-sales or a negative pickup deal already in place?
- Screenplay: Ensure your script is polished and ready for production.
- Production Schedule and DOODs: Investors that have invested in films have an eye for making sure the production schedule makes sense.
- Line Item Budget: Investors that have invested in films have an eye for making sure the budget can actually deliver a quality film; they also want to see that the budget is not top heavy (i.e. have the budget going to one producer rather than for the whole film)
- Phase II Documents:
- Once you attracted serious interest from accredited investors, you’ll need to prepare legal documents such as a more detailed Business Plan, Private Placement Memorandum (PPM), Operating Agreement, and Subscription Agreement.
- Be prepared for the costs associated with these legal documents—initial preparation can cost a minimum of $20,000. Then additional legal fees (the time it takes for attorneys to attend investor meetings with you, send documents to investors, obtain signatures, etc) can range from $500 to $1,500 per hour.
- Business Plan: This document expands the pitch deck, offering more detail about the film’s concept, audience, market analysis, financial projections, and risk mitigation. It details how much money is needed, how the funds will be spent, and how investors will potentially profit. The goal is to present the film as a viable investment opportunity, explaining how it will be made, marketed, and monetized.
- Private Placement Memorandum (PPM): A PPM is a legal document given to potential investors that provides detailed information about the investment opportunity, including the risks involved. It outlines the terms of the investment, the rights of the investors, and the potential return on investment. The PPM protects both the filmmakers and the investors by clearly defining these terms and ensuring transparency.
- Operating Agreement: This document governs the relationships between the investors involved in the film project. It outlines roles, responsibilities, and financial rights (such as profit distribution) within the production company or LLC formed for the film. It’s crucial when multiple parties are involved in the financing and production of a film.
- Subscription Agreement: A legal contract between the film production company and an investor. It’s signed when an investor decides to invest in the film, confirming the amount of their investment and the terms outlined in the PPM. It essentially binds the investor to their commitment and confirms their understanding of the risks and rewards.
Please note that there are other materials needed if you’re raising funds for a slate of films, rather than just one film, or if you’re raising funds for a company, rather than just one film.
By tailoring your materials to your audience—whether it’s a large studio or a private investor—you’ll increase your chances of success. Well prepared materials not only demonstrate professionalism but also give potential backers confidence in your ability to deliver on your vision.
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