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Why Sales Forecasts Matter for Indie Filmmakers
The success of your indie film may depend on this one thing.
The success of your indie film may depend on this one thing.
Independent filmmakers often struggle with securing funding for their projects, making every penny count towards the final product. As a filmmaker myself, I understand the importance of making informed financial decisions to ensure the success of my projects.
WHY IT MATTERS:
Accurately forecasting sales can make or break the success of your independent film, influencing funding decisions, marketing strategies, and ultimately, the longevity of your filmmaking career.
THE BIG PICTURE:
Sales forecasts are crucial for filmmakers because they provide an estimate of how much revenue a film is likely to generate, allowing filmmakers to make informed decisions about their budget, marketing, and distribution strategies. Without accurate forecasts, filmmakers risk overspending on their productions or underselling their films, leading to financial losses or even project cancellations.
ZOOM OUT:
For example, the film "The Florida Project" (2017), directed by Sean Baker, had a budget of $2 million and grossed over $10 million worldwide. The film's success can be attributed to its accurate sales forecasting, which informed its marketing and distribution strategies, allowing it to reach a wider audience.
ZOOM IN:
By accurately forecasting their audience size and revenue, the filmmakers behind "The Florida Project" were able to tailor their marketing and distribution strategies to reach their target audience effectively, ultimately leading to the film's success.
ACTION ITEMS:
👉 Use online tools to research and estimate your audience size and revenue potential.
👉 Set realistic goals for your film's success based on your sales forecasts.
👉 Reevaluate and adjust your strategies as needed throughout the filmmaking process.
SEE IT IN PRACTICE:
🎬 "The Farewell" (2019), directed by Lulu Wang, with a budget of $3 million.
🎬 "Fruitvale Station" (2013), directed by Ryan Coogler, with a budget of $900,000.
🎬 "Hereditary" (2018), directed by Ari Aster, with a budget of $10 million.