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EntertainmentIndustry.net
Another strategy studios have employed is to follow the cue of other large corporations in other industries and test various models of out-sourcing, joint ventures and every conceivable variation of virtual creative teams to minimize their risk and control the distribution of rewards.
Whereas in the golden days of cinema, the development, packaging, financing and production of a film were activities all conducted in-house, each of these activities is increasingly undertaken by a constantly changing constellation of independent contractors or partners. Studios have found it far more economical to hire, on a film-by-film basis, the professionals who once comprised much of their permanent staff.
As a result, a whole community of film professionals has evolved outside of the studio system, willing and able to partner in the production of feature films. These professionals are equally available on the same very favorable terms to independent production companies, which, to a certain extent, has leveled the playing field.
By and large, independent producers can be broken down into two major categories: those with a studio (or other financing or distributing entity) deal and those that are truly independent.
Many studios offer what are called “first look” or “housekeeping deals” to A-list or up-and-coming screenwriters, producers, directors or actors with excellent track records or promising material.
Some examples are: Morgan Freeman’s Revelations Entertainment has such a deal with Paramount Pictures Motion Picture Group; Drew Barrymore’s Flower Films has a deal at Warner Bros. Pictures; Jennifer Love Hewitt’s Love Spell Entertainment is set up at ABC Entertainment Television Group, Sydney Pollack's former Sony shingle Mirage is now hung at The Weinstein Company.
The terms of these deals vary like everything else in the entertainment industry, but by and large, they typically involve the “independent” production company locating their offices on the studio’s lot and essentially coming in under their wing. The studio covers (advances) some or all of their overhead expenses (receptionist, readers, parking, office supplies, copies, couriers, etc. — sometimes even development executives) against future profits in exchange for the studio’s “first right of refusal” to any project they develop under their auspices.
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