How Much Does it Cost to Make an Indie Film?
Some of the most successful indie films actually did start out with extremely low budgets, but rarely do we see successes like this come to fruition. What’s more common are indie films that come backed with substantial investments into a budget and often lavish use of production resources.
If you’re considering making an indie film, you’re probably wondering, “How much does it cost to make an indie film?” While it’s impossible to place an exact figure, we’re looking at the various ways that budgeting an Indie film can help you cut costs and achieve successful results.
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Realistic Indie Film Budgets
First, let’s consider what a realistic cost for an indie film might be. How do we determine that — it depends! What’s realistic for you may very well not seem realistic to my needs.
The same holds true in independent filmmaking. A common scenario that comes up for directors or indie filmmakers is that they have these ideas, these desires to create independent films, but they know that immediately there is no possible way they will be able to secure the budget needed for the project — at least not without first building a name and reputation in the industry among investors. So instead, many start small and work their way up to the more expensive, lavish indie films.
This is called, setting realistic budgets for an independent film. Perhaps you know that your film is going to be in the range of $3M to produce. As a newbie, you’re probably not going to gain much support for a $3M investment. It’s time to work small — and sidesteps that big film for the time being.
Live, and Learn
Young filmmakers have a similar underlying “problem” in common — they lack experience. It’s time to live and learn. Before asking someone for a cash infusion of several million dollars, consider taking some time to study all you can about low budget films. Learn how some of the most successful, low budget indie films have found their successes and see how you can apply those same principles to your own independent filmmaking. There’s also a lot in the filmmaking industry that you really just need to go out and do and learn, for yourself.
More Ways to Cut Indie Film Costs
There are several additional ways that you can keep your indie film costs low-budget. For example, consider areas that you can do the work rather than hiring people to take over. Wearing multiple hats and getting your hands dirty can save you tons! Equally important, is to stick to your plan and focus. Don’t let your desires for a successful film cloud the overall focus on the purpose of the film. Do you really need that crane shot? Is a multi-location shoot with an elaborate setup really necessary?
Most independent films still maintain a budget of about $1,000 per finished minute, although a few notable indie film successes have occurred at substantially lower budget (think El Mariachi and Paranormal Activity). A Sundance film study found that the majority of Indie films had budgets close to those of feature films which leads one to think that maybe indie film costs are excessive due to poor planning or a lack of understanding as to how the budget can best be allocated and/or reduced.
So, “how much does it cost to make an indie film?” The answer really is, as much as you invest to produce the film. A great indie film can be produced at less than $500 per finished minute or well over $10,000 per finished minute. Just like all filmmaking, the production budget is skewed by a wide range of factors that are uniquely dependent on the indie film itself.
