Things the film industry has overlooked and how it is failing our film industry
7/25/2012 1:31:22 PM -
Recently there have been so many concern rose in the film industry especially one that has to deal with FIPAG and new producers in the film industry. Today I don't want to attack any film body but I want us to look at some of the things the creative minds in the film industry has overlooked and how it affecting or failing our industry. There are so many things that we need to look or tackle in the film industry in Ghana but because of space we will talk about just a few. It is very sad we work any how when it comes to film making because some production houses think they have their audience and no matter how bad the movie is, they will sell. It may appear ok for you now but we should think about the future, your children. What legacy are we leaving for them? Today because of the attitude of some movie production houses, approach for house and areas for location are being shunned. Imagine if all the worthy guys in the country decides not to give their houses or hotels out for movie shooting again. What will be the future of our film industry? Remember that is the only place for us to shoot our movies...anyway I don't want to talk much about this. Now let proceed with today's biz,
Do you know our 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. Hollywood was not built in a day or just any how as perhaps we see it. 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 funders and those who fee those deals? We could build something that works far more efficiently and offers far more opportunity.
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 some class of people which is very bad and dangerous to the health of the industry. 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 Dansoman or Spintex is not affordable for most people starting out. We get more of the same and little progress without greater diversity.
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 recoupment 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
Independent Filmmakers (and their Industry advisors) build business plans based on faces and colour. 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' behaviours 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. Why can't our Industry develop more stars? The talented actors exist, but they don't have 'value'. Why is it that we don't have more serious actors who are worth something financially? Isn't it just about giving them the roles that help them build audiences? Why don't we encourage more actors to take more risks in terms of the characters they portray? Audiences, filmmakers, financiers would all be better served by industywide initiatives to launch more talent. Say what you will about the system of old, but they were damn good at developing new talent. So few of us have determined what we love, not just in film, but also in the world in general. Let all think the future of our film industry.