Check out: http://www.livestream.com/thewrap Tonight 6PM EST. Sharon Waxman, Chris Hyams, and me, chatting about two things that go together better than peanut buttter and jelly.
Day: April 26, 2010
By now you’ve probably heard that the US Congress has approved two different film future exchanges, (i.e. commodity exchanges). Variety, among others, have been covering the story in what we have to recognize as an inflammatory way (then again, why should they not be like the rest of the media).
The press has uniformly been very biased in the way the story is told, always positioning the exchages as “a gamble” and a haven for speculation. Sure, I suspect that these exchanges will prove to be a very disruptive influence, but that does not mean they are shouldn’t be allowed. And yes, I am all in favor of far greater government supervision of our financial industries, but again that does not mean new mechanisms shouldn’t be given a chance. There is a great deal more to the story of these exchanges that needs be put on the table, as they offer us many benefits beyond what the press would have us understand is a simply another opportunity to gamble.
I am grossly disappointed in the lack of action from film industry leaders to do anything to help to establish a sustainable investor class for the entertainment industry.
If I had to state one of the most crucial things we need to focus on in the indie film world right now, I would say that working to establish a sustainable investor class ranks right at the top. If only it did not take a bit more than simply stating it…
I have made over sixty films in about twenty years. Each film is a new start up with a new structure and new investors. It is not a very efficient system. Folks from The Business Community often express interest in trying to bring some greater reason to our world. I hope they succeed and I am available to help, but it is not so easy a mission.
One of the reasons that each film has it’s own financial structure is that every film has its own needs. We are not making a standardized product, but we are working with artists who have developed unique talents for getting their visions and emotion up and out there. Filmmakers need a protected environment to work in.
At the same time, Investors need access to the process to trust their needs are being taken care of. These needs are most often quite different from the filmmakers’. How to provide trust, confidence, and comfort is part of what makes producing such a challenge (and pleasure).
