How to start
You might have an excellent story and compelling characters but, ultimately, an audiovisual project is, in practice, a business proposal, and in the vast majority of cases, a risky one. A filmmaker needs not only a story worth telling but also one that it is feasible to tell the way he or she proposes to tell it. That is why it is important to identify and review certain elements that may not be immediately obvious but could make an audiovisual project unviable or unattractive. The three main elements to consider from a practical perspective are artistic, financial and legal. These are always interrelated as a change in one area may impact another area. For example, the choice of one song as the theme for a character can impact the schedule and script and the legal authorization needed for the song’s use.
The large list of needs for a project might be overwhelming, especially at the start when resources are not yet guaranteed. That is why strategic planning plays an important role in project development. This planning will help with attracting and managing partnerships, talents and funding. The first step is to think of the overall aspects of the project as follows:
Understand the entire process.
Have clear and defined goals.
Know what resources are needed to achieve those goals.
First steps: content and planning
You now have a clearer picture of what would you like to achieve at the end of your audiovisual project. You have also started to think about what you will need to do to achieve that. The next step is to start working on the details and transform your idea into a concept.
To help you advance, reflect upon six aspects that will eventually need to be included in your project:
Concept: what is your project about? This will be one of the most common questions when presenting or pitching your project, at least in the initial phase. Artistic elements of the project need to be reflected in a structured manner: central concept, story, characters, narrative and visual style.
Script: some projects don’t necessarily have a script at the very first phase and others start with a full script. Either way, ensure that your script is formatted as per industry expectations and standards and in line with the concept that you are presenting. With a finalized script in your hands, your planning and budgeting can be more precise. Do not forget about managing the IP rights over any script developed at an early stage as well.
Budget development: how much money do you need? Financial feasibility is a requirement for any project to become a reality. Any investor will need to understand the overall costs of the project, sources of financing, projections and how much the investment represents in terms of percentage of the total costs. A realistic budget includes the costs associated with production, including crew wages, production, equipment hire, postproduction, marketing and, of course, IP clearance.
Production planning: understanding the requirements of the production is crucial for the optimal use of resources, both creative and financial. The planning should be in line with the goals and, of course, the script and the schedule. It includes when and how you will use the resources to avoid surprises but also when the content will be ready for distribution. Contractual deadlines, periodical transfers of money from financers and postproduction time and cost should be kept under control. Think of stages and milestones, for example, the green light.
Risk management: risk is inevitable in audiovisual projects. While elimination of risk is virtually impossible, its management is a must for any production, small or big. A filmmaker might be asked to show that he or she has undertaken steps to manage specific risks, especially those that might affect distribution. The risks can be of different natures including financial, creative, contractual, logistical and so on. A range of insurance types is available for audiovisual projects to protect them from some of the larger risks. This should not only be considered but also included in budgeting and planning.
Viability assessment (green lighting): a “green light” or a positive viability assessment is a major milestone in most audiovisual projects with private financers. It is the final go and commit the financing necessary to make a film, series and so on. The condition for green light is normally established by a distributor of financer. Other elements of the contract with the financer might only be triggered in case the green light is given such as ownership, future payments and deadlines. Such conditions, payments or other elements should be reflected in the planning in terms of the requirements to achieve approval and the resources that will be made available only after the green light. It is important to incorporate these requirements as early as possible in the project to ensure the efficient use of resources.