FILM BUSINESS

The film business strategy and finance



The film business strategy and finance

Problems with investing in film production and development in the United Kingdom and independent marketplace

The media and film industry is the most rapidly changing sector than any other sector within the industry. It is due to the technological advancements and other changes brought about by the 21st century into the film industry. The production of films and the development of film industry in several parts of the world have become challenging tasks for the stakeholders involved in the business of films. More specifically, in the United Kingdom, the producers are facing immense challenges and issues that have redefined the standards, opportunities, practices and activities related to the film business in the United Kingdom. The distribution of film has also become a major problem for the film makers, producers and the independent market place. In addition, the rapid fluctuations in the currency has resulted in the severe challenges for the independent film makers and producers and they face issue in forecasts of cash flows obtained through the release of the films (Adams, 2011). Some of the trending challenges faced by the film producers specifically independent film makers in United Kingdom are discussed as follows.

The digital revolution in the film industry

The recent digital revolution in the media and film industry has changed the preferences and the methods of film business all over the world. In the United Kingdom, it has a huge impact on the production of films. The cheaper and less expensive digital production material is available in the market that has assisted in the creation of a number of products related to film making equipments and procedures (Finney, 2010). This has resulted in the development of more buyers in the market and even the products are abundant in the market as compared to their buyers. It shows that the accessibility of people towards film making has increased. Various people with a little or no knowledge of film making have entered into the film making business due to the potential profits in the industry. The quality of film making is compromised due to this reason that impacts the overall business of films in the United Kingdom. The development of business of films seems difficult under these circumstances. The challenge has demoted the high spirits of the British film makers and producers specifically focusing the independent film makers possessing the knowledge and passion for making films. However, this challenge can be taken as opportunity by the film makers and independent producers in the film industry of the United Kingdom. The genre specific movies are still in demand that requires high quality digital equipments and processes to create a film. The genre of the film plays an important role in motivating the distribution company, buyer of the film and marketing managers because they can instantly visualize the trailer, movie poster and marketing or promotional campaign of the film. The distribution issue arises but it can be tackled with the strategy to focus ...