A UK Independent Film Tax Credit (IFTC) has been created it was announced today. The increased Independent Film Tax Credit will apply to United Kingdom films with a film budget of £15m ($19m) or less.
The UK Independent Film Tax Credit rate will increase to 53%, which is capped at 80% of core expenditure costs. This will result in a net film tax credit rate 42.4% for UK indie films. TV shows will not be eligible for this tax credit.
UK films with a movie budget exceeding £15m will remain eligible for the existing 25% tax credit for film and high-end television (HETV).
Full details have yet to be released as of this writing. Updates will be included as they are likewise announced.
Additional changes will see Studios receive a 40% tax credit, designed to continue the build-out of the UK Studio and Stage infrastructure boom. Further changes included a 5% increase to the VFX tax credit, and removal of the 80% cap for visual effects costs in the audiovisual expenditure credits.
Read the Hollywood Reporter article on the announcement.
Head to our Main Page for additional information on our film budget services. We are film budget and schedule experts with over 25 years experience as a Major Hollywood Studio and indie film producer in the UK, US, and worldwide for film finance, film tax credits, film budgeting, film finance plans, and Producer Consulting Services.
Title | Film Budget | US Box Office | International | Total Box Office
The Holdovers — $19m $7m $26m
American Fiction $20m $8m — $8m
The Zone of Interest — $1.6m — $1.6m
Barbie $145m $636m $809m $1.44b
Oppenheimer $100m $327 $626m $953m
Poor Things $35m $21m $13m $34m
Past Lives $12m $11m $12m $23m
Anatomy of a Fall $6m $4m $20m $24m
Maestro $80m $.4m — $.4m
Killers of the Flower Moon — $67m $89 $156m
The film budget of the Oscar nominated movie, domestic box office, international box office, and total box office worldwide to date of the 2024 Oscar® Nominated Best Picture movies are listed above. Ticket sales are based upon figures to-date and are being updated.
While some the the film titles were released earlier in the year, some movies were only released in theaters in the US in 2023 in order to qualify for an Academy Award nomination. Where data is not listed this is because the information is not currently, or readily available it is denoted as “–“.
Film Budget of Oscar Best Picture Nominees 2024
A full list of the Academy Awards 2024 Nominees can be found via Oscars.org
For further information on how to be a professional filmmaker with a film budget to get you to the Oscars® visit FilmBudget.com for more details.
To compare the film budget and box office of the top 10 notable Sundance Film Festival films, FilmBudget.com analyzed the list over the first four decades. We first listed the film budget for each, in inflation adjusted US Dollars to correspond with 2024.
We then compared each film with Domestic US box office (US and Canada) and its International box office, likewise using inflation adjusted US Dollars. (Note: All figures are approximate estimationsand for comparison purposes only.)
The Film Budget of the Top 10 Notable Sundance Film Festival Films (adjusted for inflation)
Whiplash (2014) $ 3,857,668
Reservoir Dogs (1992) $ 2,366,643
Get Out (2017) $ 5,080,171
Little Miss Sunshine (2006) $10,980,159
Memento (2001) $14,061,547
Sex, Lies, and Videotape (1989) $ 2,677,742
Before Sunrise (1995) $ 4,539,042
Boyhood (2014) $ 4,675,961
Y Tu Mamá También (2002) $ 3,076,153
Blood Simple (1985). $ 3,857,342
The Box Office Gross of the Top 10 Sundance Film Festival Notable Films
Here we have listed the U.S. Box Office and International Box Office Gross for each Sundance Top 10 Notable film, inflation adjusted to 2024 U.S. Dollars, strictly for demonstration purposes to provide the film budget and box office of these Sundance Film Festival favorites.
There are numerous types of film finance providers for film and television production finance. Each of these types have different business models.
What are Film Financing Requirements?
Each film financing entity has separate requirements which they look for in a project in deciding to provide funding. The most common element required is the film budget for the project, but equally or more important may be the screenplay, international sales contracts, or film tax credits availability.
How Important is the Team Behind a Project?
Likewise entertainment funding companies will look at your team – who is behind the project and what value do they bring to the production. This provides them with a sense of security, if they determine the filmmakers and stakeholders involved are experienced, have a track record, or have engaged with those whom do.
What are the Different Types of Film Finance Providers?
Among the various types of film financiers which provide capital for the film business, the general categories in the sector are:
Debt, Gap, and Film Tax Credit Financing
Entertainment Companies (providing equity investment)
Film & Television Production Companies (acquire intellectual property to produce and/or distribute)
Individual Equity Investors
Some companies provide a combination of the above forms of film and/or television production funding.
All except perhaps the third category on the list, acquisition of IP to exploit have as a fundamental item required to consider a project a professional film budget as well as a well developed film finance plan.
For all except perhaps the first category on the list (Lenders, and increasingly even those) an outstanding screenplay or teleplay is a critical factor in determination if the project will be considered, and approved, for production financing.
This form of funding is primarily a lending vehicle. This might be a bank or finance company engaged in providing loans against collateral. The collateral can take the form of international film sales contracts, distribution deals, or film tax credit contracts from a local US State or foreign country.
In addition to these forms of collateral, these lenders will review the film budget which is the basis for the production’s film finance plan. The film budget is likewise a requirement for determining the film tax credit net benefit (payout.)
These types of companies are engaged in the production and/or distribution of film and television content. Providing equity investments in productions is the core of their business. These are the true film financiers and bring different sources of funding together.
These can include production companies, mini-studios, lenders with an equity contingent arm. Investment in film and tv may be driven by commercial goals; profit driven.
Alternatively they might be an artistic or social themes driven entity, engaged in high end television or independent film investing, production, and releasing.
These firms prioritize the script, the film budget, and the film finance plan to determine viability. The creative and production team, along with strong name talent attachments, are key considered elements.
Film and Television Producers and Production Companies
Even more numerous than the above, a large amount of film and television producers and companies are in the business of acquiring intellectual property. These companies will option the IP and develop the properties through packaging and arranging financing through their known funding sources.
Many of these types of firms will have output deals with distributors, studios, streamers, etc. They know what their buyers are looking for and what their requirements are to provide financing and/or distribution.
The screenplay, film budget, and film finance plan are the basis for consideration. Additionally the team behind the project and any cast attachments are crucial however they are unique in their development of the package as a business model.
Individual Equity Investors
Individual equity investors are high wealth persons engaged, or seeking to be engaged in the financing of indie films and tv series. Their aims might be their passion for cinema, specific topics, social causes, celebrity and the lure of showbusiness.
As with all investors they intend to make a return on the capital, while some might wish for a more active role in the creative and production process.
For these types of investors the screenplay, film budget, and film finance plan are basic requirements in addition to cast being a substantial bonus factor.
To create a professional film budget or tv budget requires the craft of designing the shooting schedule. This applies to both movies and television productions. Following the screenplay breakdown process, generating the shooting schedule, and the stripboard schedule, is critical to producing a successful budget.
The Shooting Schedule for Film and TV
The film and tv shooting schedule comprises multiple documents (see list below.) The main document for a movie or television production is the stripboard schedule. Once the stripboard is generated the other documents in the scheduling package can be made.
The key to a quality shooting schedule is the experience of the person making it. A highly experienced producer or assistant director use their knowledge of production to make it. Knowing how a production works, what are the best practices for filming, and in what sequences is extremely important. This impacts not only the schedule but the budget and the entire production.
The Stripboard Schedule
The stripboard schedule creation can begin once the script has been read and the screenplay breakdown has been executed (this entails breaking down and listing every element required to facilitate the production. With the breakdown in hand, each scene of the movie is given a dedicated “strip” to represent it. Each strip contains the slug line (INT., EXT.), the set (Country Farm House), the page length of the scene listed in 1/8 of a page (3 1/8), a brief synopsis of the scene (They enter the country farm house), and the characters I.D. # generated from the breakdown (1. Bob 2. Carol 3. Ted 4. Alice.)
Following the generation of all the strips, which are now in the order of the screenplay, the producer, line producer, production manager, or A.D. order the strips for utmost financial and creative efficiency and practicality. They then create day breaks representing the end of a days work. Day breaks contain the date, shooting day #, and the total pages to be filmed.
What Order Should I Shoot the Scenes of the Movie?
Deciding what order to shoot the scenes of the movie is where the expertise, knowledge, and experience is foremost critical. Knowing which scenes to shoot first, which last, which to hold back for unexpected scenarios, etc. is the important factor in the production of the film. A schedule that is not very well designed and perfected can cause complete chaos and failure of a production. On the other hand, a well designed schedule can make for a very smooth film or television production.
What Documents are Included in a Film or TV Shooting Schedule Package?
Once the stripboard schedule is created the following documents are generated to represent the shooting schedule:
The Stripboard Shooting Schedule
The Master Shooting Schedule
The Day Out of Days
The Locations List Schedule
The One Line Schedule
Additional documents may include: Picture Vehicles Schedule, Stunts Schedule, Props, SFX, Armory schedules, etc.
For a complete list of services offered by FilmBudget.com please visit our film budget and schedule production services page. Likewise head to our home page for full details on our complete services and for a free consultation on your film and tv series production requirements for launching film finance and to prepare your production.
Additional details on creating a shooting schedule can be found via this Linkedin post.
A professional film budget for film financing is necessary now more than before due to the current market conditions. Wall Street has taken a harsh stand on the big streaming services lately. Netflix set off a tumble in entertainment company valuations when they announced their first reduction in the number of new subscribers.
Cost Efficiency
This created an environment for cost efficiency. With reduced market valuations for the streaming companies, and media companies in general, the film and television industry was required to reevaluate their spending on each film budget, tv budget, and overall talent costs.
Lay-Offs
The result was the film business and Major Hollywood Studios had to demonstrate increased profits to appease the Wall St. markets. Layoffs ensued, with promises to reduce their bottom lines and increase profitability. This followed a wave of tech company workforce reductions which had previously occurred, mostly for different reasons (they had all over-employed during the pandemic.)
Big Film Budget and TV Series Budgets
As they raced to market share with ever increasing film budget and tv series budgets the streaming companies and Hollywood studios entered increasing competition. Netflix, the previous market leader, suddenly had the likes of Disney+, Warner Bros. Discovery’s HBO Max (now “Max”), Apple TV Plus, Paramount+, a few amongst many, to compete with. Bigger shows were ordered, increased spending and costs were deemed necessary to engage audiences.
Wall Street Had a Voice
Wall Street now had a larger voice in the boardrooms. Cost reduction, profits were now encouraged and required. The costs of movies and tv shows needed to come down. The streamers and studios reacted quickly to the enormous loss of market valuations.
The Cost of Film and Television Production – The Film Budget and TV Series Budget Had to Come Down
The cost of film and television production had to come down. A wake up call was answered. The ever increasing spending on content production had to be reigned in.
Likewise, staff reductions were necessary to create more efficiency. Billions of dollars had to be found to generate savings and increase profits.
The Film Budget in the Indie Film Sector
While consistently challenged to keep the film budget low in indie film production, these events have put even more pressure on the film budgets of independent films. As streaming and the Hollywood Studios sought more content to feed their subscriber growth, indie filmmakers had a fleeting moment of rising to the scale they had long desired. Alas, this euphoria did not last long.
The Indie Film Market
The indie film market is accustomed to this requirement. For years the independent film finance and production environment has demanded the highest production value at the lowest expense. Casting name actors at a profitable rate has always been a fundamental part of independent film financing.
A Return To Theaters
As audiences are showing a renewed penchant for a return to theaters, increasing opportunities arise for indie films. This is especially true in this current economic climate of film production. (A conversation in our next post.)
In Conclusion
Increased scrutiny on production costs for film and television production for the industry will benefit from the efficiencies of the long funding-restricted indie film finance pool of resources. The current markets for film and television will demand further scrutiny on the film budget and tv budget for internal cost control reasons. A professional film budget for film finance is therefore quite necessary and advised.
The previous period of unbridled growth in content spending was much less restrictive. A new focus on conservative film budgeting and scheduling, in the Major Hollywood Studio, streaming, and independent film worlds, will be requisite expectations for filmmakers for the foreseeable future.
Jack Binder is a Major Hollywood Studio, indie film, and high end television Producer of over 25 years. Binder’s credits include ‘First Reformed’ (Ethan Hawke, A24 Studios), ‘The Upside of Anger’ (Kevin Costner, New Line Cinema/Warner Bros.), ‘Reign Over Me’ (Adam Sandler, Sony Pictures) and many more. Jack is the Founder of FilmBudget.comJack Binder’s full credits and biography can be found here.
Producer Jack Binder – Founder – FilmBudget.com Worldwide
Film, TV, Arts & Entertainment Relief List | Stimulus & Tax Matters
Film Budget Inc. (FilmBudget.com) compiled a list of Film, TV & Entertainment Relief for the Corona Virus Shutdown. With millions out of work assistance from government, industry, companies and organizations is critical to help those in the arts and entertainment industry to survive.
Updating Daily:
Film Independent List of Film & TV Emergency Relief and Support Programs
Film Independent has put together a long list of programs helping those of us in the film, tv, arts and entertainment sector during these troubling times of the Corona Virus Shutdown. You can find the Covid-19 Support List Here.
TheWrap List of Hollywood Film & TV Workers Aid Programs
TheWrap listed agencies, companies and organizations helping film and television workers with support during the corona virus production shutdown. Here is a link to the list
Extensive list of ways people can help others, charities, grants and programs to help workers displaced due to the Corona Virus Shutdown. This includes theater workers, artists, actors, musicians, behind the scenes crew and writers, directors and producers.
ViacomCBS isn’t the only media company to support relief efforts. WarnerMedia committed $100 million to a relief fund, Comcast pledged $500 million to help workers impacted by coronavirus, and Sony launched a $100 million fund of its own.
Supported by Pink, Maria Bello and stars from ‘Grey’s Anatomy,’ the On Being Human 2020 campaign started by author Jennifer Pastiloff raises critical funds for people who need food during the pandemic.
Please send any programs which you feel should be listed via the Contact Form. Thank you.
For information on Film Budgeting and Producer Jack Binder click here
Let’s get back into production! Investors require a film budget to finance your film. FilmBudget.com International creates custom finance, bank, completion bond and camera ready film budget and schedule packages, film finance plans, and custom producer consulting services . We are offering substantial discounts and financing for our services including film budgeting and scheduling discounted packages to move your production forward.
FilmBudget.com put together our Annual Sundance Film Festival 2020 Distribution Acquisition Deals List as they occur, including pre-buys, pending, and signed deals. Sundance has seen a number of record breaking acquisition deals in 2020, with many selling for eight figures.
Film Festival Dealmaking at Sundance Apace for 2020
Sundance dealmaking started very slowly and then picked up at a rapid pace. At first it appeared to be a light distribution deal year for Sundance. Fortunately for the filmmakers the competition heated up toward the end to a voracious clip!
Sale figures are estimated based on sources and reports. Here are the major deals announced:
List of Sundance Film Festival 2019 Distribution Acquisitions Deals as they occur.
This week kicks off an active acquisition spree of indie films by distributors. The pace of Sundance Film Festival acquisitions has been steady with majority of top selling titles going for eight digits.
‘Where’s My Roy Cohn’ acquired by Sony Pictures Classics for mulitple territories, directed by journalist Matt Tyrnaeur adding to growing list of Sundance Film Festival distribution acquisition deals.
AFM is The American Film Market. With over 400 distributors, 1,000 production companies, and 8,000 industry professionals, it’s no surprise the American Film Market is the place to be come November. What makes this event so special? Unlike the numerous film festivals throughout the year, the AFM’s sole purpose is to offer seven days of world-class networking opportunities. And to add to that the AFM takes place in beautiful Santa Monica, CA overlooking the Pacific Ocean and the beautiful beaches of Southern California.
AFM Holds Valuable Film Industry Seminars & Conferences
Update: Security to be Tightened at AFM
Security will be tightened at AFM this year. Organizers have announced the Loews Hotel lobby will be accessible only to participants with credentials, expanding on the previous policy of closing access to the pool area. The main goal is to make the lobby of the central facility of the market more of a hub of activity for credentialed industry members, enabling those professionals to avoid the unsolicited approaches and nature of conduct in past years.
When Is AFM?
When: Early November
Where: Santa Monica, CA (Loews Santa Monica Beach Hotel & all 21 screens on Santa Monica Promenade)
Inside the Halls of the AFM
Online Registration: According to the official AFM website, passes fall within six different prices. On the low-end of the spectrum you have the Day Pass, which will cost you $275. On the high-end you can opt to pay $1,495 for the platinum “all-access” pass. According to the chart, the Executive Pass is the best value at $1,095. Make sure you head to the website in the next week, as the online registration window closes November 2nd.
On-site Registration: On-site registration will be available for all packages, though they will cost you on average $50 more than the online registration.
Badges & Prices – Full details on badges, packages and conference pass can be found Here
Reminder: Online Registration Closes Oct 26, 6:00 PM PDT “October 29th is the deadline to submit badge photos in advance. After this date photos must be taken on-site. Materials to be received at off-site warehouse to guarantee delivery to AFM offices prior to check-in.
Information for Buyers: Buyer accreditation has closed. Click here for more information.
Conference Series:
Another aspect of the AFM that makes it so special is its incredible conference series. Whether you’re an industry professional or not, you’ll want to attend at least one of these insightful events. Below are just a few of the ten separate sessions: Finance Conference, Marketing Conference. .
AFM Campus:
For a great, interactive map of the AFM campus click the image below.
Is AFM a Good Networking Opportunity?
Remember, this is “non-stop” networking with real film industry insiders. Whether you’re trying to sell your film or gain finance for a new project, AFM is where you want to be. Finally, if you need a finance and camera ready film budget and schedule package contact www.FilmBudget.com the international leader in worldwide film budget production services.
FilmBudget.com is the international leader in worldwide film & TV budget and schedule production services.
Be sure to follow us on twitter and FB for the latest AFM 2018 News, Conferences and Seminars. Contact us for a quote on our services for your investors.
Jack Binder is an American Major Hollywood Studio & Independent film & television producer (Producer, Executive Producer, Line Producer & Directors Guild of America DGA-UPM) with a career spanning over 25 years.
Jack is currently Producing & financing ‘First Reformed’ starring Ethan Hawke & Amanda Seyfried for Writer/Director Paul Schrader with Omeira Studio Partners Ltd.
Producer Credits
