1. We cannot logically justify any ticket price whatsoever for a non-event film. There are too many better options at too low a price. Simply getting out of the house or watching something somewhere because that is the only place it is currently available does not justify a ticket price enough. We still think of movies as things people will buy. We have to change our thinking about movies to something that enhances other experiences, and it is that which has monetary value. Film’s power as a community organizing tool extends far beyond its power to sell popcorn (and the whole exhibition industry is based on that old popcorn idea).
2. The Industry has never made any attempt to build a sustainable investor class. Every other industry has such a go-to funding sector, developed around a focus on the investors’ concerns and standardized structures. In the film biz, each deal is different and generally stands alone, as opposed to leading to something more. The history of Hollywood is partially defined by the belief that another sucker is born every minute. Who really benefits by the limited options for funding currently available other than those founders and those who fee those deals? We could build something that works far more efficiently and offers far more opportunity.
3. The film business remains the virtually exclusive domain of the privileged. Although great strides have been made to diversify the industry, the numbers don’t lie. The film industry is ruled by white men from middle class or better socioeconomic backgrounds. It is an expensive art form and a competitive field — but it doesn’t need to be a closed door one. Let’s face it: people hire folks who remind them of themselves. These days everyone needs to intern and the proposition of working for free is too expensive for most. Living in NYC or LA is not affordable for most people starting out. We get more of the same and little progress without greater diversity. And although I essentially mentioned this last year, the continued poor economy limits diversity even more now.
There is no structure or mechanism to increase liquidity of film investments, either through clear exit strategies, or secondary capital markets. The dirty secret of film investment is that it is a long renouncement cycle with little planning for an exit strategy. Without a way to get out, fewer people choose to get in. Who really wants to lock up an investment for four years? Not investors, only patrons…
4. Independent Filmmakers (and their Industry advisers) build business plans based on models and notions selected from before September 15, 2008 when Lehman Brothers collapsed and everything changed. It is not the same business as it was then and we shouldn’t treat it that way. Expectations have changed considerably, probably completely. Buyers and audiences’ behaviors are different (those that still remain that is). Products are valued at different levels. We live in a new world. Our strategies must change with it.
5. The film business remains a single product industry. The product may be available on many different platforms, but it is still the same thing. For such a capital-intensive enterprise to sell only one thing is a squandering of time and money. Films can be a platform to launch many different products and enterprises, some of which can also enhance the experience and build the community.
We have done very little thinking or discussing about how to make events out of our movies. The list seems to have stopped at 3D. There’s only been one “Rocky Horror Picture Show” and the first one is very very old. Music flourishes because the live component is generally quite different from the recorded one, and the film biz could benefit from a greater differentiation of what utilizes different platforms.