Budget

A budget is essential for films as they list all of the costs involved within the film such as actors, assistants, equipment and even the food provided throughout days of shooting. They are important to analyse during the process as it enables the film company to be in financially stable position leading up to the production stage. Film budgets can be divided into four sections, which include above the line (creative talent), below the line (direct production costs), post-production (editing, visual effects, etc.), and other insurance. The budgets can be acquired from things such as private investors, sponsors, product placements, film studios, entertainment companies, and/or out-of-pocket funds. The first time you budget a film, you should include everything that is crucially needed during the production stage. The budget will be a constantly changing document, as ‘essentials’ can become redefined, deals come up and certain elements could to be too expensive for your budget. But there comes a point, when you have raised all the cash and made all the deals that you possibly can, when you have to decide to go-ahead with what you already have.

When budgeting here are some of the things you should think about including...

Cast and Crew - you might not have to pay anyone, but make sure you clarify this early on. If you are not paying crew then it is customary to offer to cover their expenses. Note - funded films generally require the equity minimum pay for cast and particularly crew.

Travel – an unavoidable cost.
Catering – food is not to be underestimated, if you can feed your team well they will be much happier to work for you.
Location - it depends where you are shooting, but again make sure that this is thoroughly researched ahead of time.
Camera and Lights - and other equipment needed.
Insurance - there are legal guides for this.
Post-production and Marketing - important areas, most first-time filmmakers do not budget adequately for these.

Short film budgets are usually quite low due to them being produced by independant film companies. These independant filmmakers can make their films much more cost effectively than the majors. Also, because the budgets are relatively modest, independent filmmakers can afford to make a movie that fails unlike the big conglomerates, such as Walt Disney. Firstly, the location of the movie can have a huge impact on the budget of the film. For example, moving the cast and crew around a lot can be time consuming and expensive so typically in short films they tend to stick to using only one or two locations within the film. Short filmmakers are able to get cheap or free scores by composing or performing it themselves. But there are three music copyrignt streams: composers, lyracists and performers. Or, by getting an unsigned band to perform, or to acquire the movie rights to an existing band by contacting them through their agent, or estate if unable to contact. When the budget is low for short films the distributors can use social media to gain an audience and advertise the film. Also, they can create their own name for the production company and title of the film, which can save money.