The hour-long conversation opened with a recent news hook: A recent statement made by Steven Spielberg, during an appearance at USC, that the film industry is on the verge of implosion. With panelists currently embroiled in the process of addressing changes to the marketplace of independent film, the reactions to this statement revolved less around the veracity of Spielberg's statement and instead focused on what kinds of models may come next.
Indiewire editor-in-chief Dana Harris moderated the discussion, which featured innovators from across the landscape of independent film production and distribution (click their names to learn more about them): Emily Best, Founder and CEO of Seed&Spark; Nicolas Gonda, Co-Founder of theatrical on-demand platform Tugg; Chris Horton, Associate Director of Sundance Institute's Artist Services; Stephan Paternot, Co-Founder and Chairman of film financing platform Slated; Jay Van Hoy, producer; and David Wilson, Co-Founder of the True/False Film Festival.
The following edited transcript highlights some of the key exchanges from the panel.
STEPHAN PATERNOT: If there are enough artists who are all throwing darts at the wall, some of them are really going to emerge and blow up big. We just haven't seen that in the film industry quite yet. We're seeing a lot of noise being made by crowdfunding campaigns, but when you see one big, successful film get out there without going through a traditional studio, that's when everybody's lights will go off. We're waiting for that moment to occur.
JAY VAN HOY: What that doesn't acknowledge is the talent behind the actual marketers and distributors. There are some extremely talented marketers and publicists behind the success of these films who aren't acknowledged for what they do. They work with you, as a filmmaker, to help position your film to the public and understand what's exciting about it. I think that, more and more, distribution companies offer that service. It can be a full-time job and not everybody's the best at it. I don't know if every director is good at being a marketer or cuts their best trailer. Some of them are very gifted at it. But they may not have a relationship with a bright trailer cutter, whereas someone doing this exclusively for 10 years can make these connections really quickly.
EMILY BEST: The music business had an advantage: The creator and the product were never divorced from one another. You would associate the song you would listen to with the band's name. That's not true in the film business. The people in this room pay attention to who directed a film they like. For the rest of the universe, they think of the name of the movie or the name of the actors. The name of the creator is not usually involved. Therefore, creators are starting over from zero to create a new audience for each film. It's a highly, highly inefficient system. Every time musicians release an album, they build a fan base for the band; the next time they release an album, they build a new fan base for that album on top of the existing one from the previous album. From album to album, they're growing steadily. One of the most exciting things about crowdfunding is that it doesn't divorce the product from the creator. So you're building an audience from that film for your whole career.
By putting crowdfunding ahead of pre-production, you're pulling some basic inefficiencies out of the system. You used to have to hire all these super-talented people, but you have to spend a lot less money if you have a few thousand influencers who are already marketing your film ahead of its festival release. We have a lot to talk about around what day and date means. Does it happen at a festival? Could you do a Tugg campaign during a festival and leverage all that press? We haven't figured out the most efficient ways to combine all these things. I agree that we have to find a way to incorporate the experts -- maybe as producers. Maybe they're your social media producers.
SP: Once enough films go through this process, a new type of distributor will emerge that specializes in that, optimizes that and makes that their business. It's not like, "Can we make everything from the old guard fit into the new guard?" There's this groundswell of filmmakers finding new means to build audiences and investors online. At Slated, that's all we do. It's happening faster and requires a lot of work. It'll get easier with time. Honestly, we view it as a 10-year endeavor. In 10 years, filmmakers will grow up experiencing it this way. They will never know the pain that we've gone through before the revolution kicked in.
Next: An example of success.