RESEARCH: CULTURAL VALUE OF FILM

What is the Cultural Value of Film?
The value of film is huge. In the most recent report on film it found that film had contributed £3.67 billion to the UK economy. Studies on the cultural impact of film have shown that apart from the being popular leisure activities and being social gatherings they also carry powerful personal and political messages that reflect our own personal beliefs and views back to our-self. Therefore film has a huge amount of significance within the lives of the people who watch it and can influence possible life decisions.



Why Film matters to the economy

  The UK makes many independent films such as: Pride, Paddington, The Inbetweeners and The Imitation Game- in these famous actors are cast despite the films being of lower budgets than of films produced by the Big Six. Again, despite these films having lower budgets they were still well received at the box office and were still nominated for many awards at the BAFTAS. The locations in which films are shot are becoming increasingly important. Approximately £840 million of tourism spending by overseas visitors can be attributed to film-induced tourism. The USA take most of the takings for films. The UK took 16% of film takings in 2014, for such a small country the UK is the biggest rival to the USA. The UK explore a wider array of genre's than the USA. This is because of the fact that the USA always go for the 'safe' options, for example superhero movies and action.

The benefits of inward investment
The benefits of inward investment are huge, they help fund the distribution of a film, the advertising and promotion of a film . For example, Tortoise in Love was given money by the BFI allowed their film to get notice and gave it its success.



The Value Chain
"the term ‘value chain’ is used to describe the series of steps that run from the first creative spark that starts the film-makers thinking about the project to the end of the commercial life of the completed feature film." The producer is the only person who goes through the entire life of the film, from when the concept of the film is just under discussion to the distribution of the film.
Development- This is where a lot of the money is spent due to the paying of the directors to the hiring of locations.
Finance-Many of the sources of finance for an independent film will be internal sources, savings. However some of the larger films will have secured external sources of finance, for example long term investments.
Pre-Pre_production- This is where the film is under tight time frames and is therefore very stressful. The money is not yet offiicially financed however money still needs to be spent on cast and crew. This is the most risky stage in the value chain.


Production- The most simple stage of the value chain in which the process is very much the same for every film.
Distribution- This is where the film has to be handed over to certain theater's and broadcasters. In general a producer uses a sales agent to license a film to distributors outside the producer’s own country.
Exploitation- This is where the consumers actually watch the film, the most important and first exploitation market is the cinema and the companies that run cinemas and cinema chains are called exhibitors. A major source of finance is from distributors and sales agents paying for the rights to the film before it is made.
1.12 Task
Development - Find Ideas, Hire Writer, Secure Rights, Secure Development Finance, Hire Casting Director, Secure Key Cast.
Concept- Find Ideas, Hire Writer, Secure Rights.
Creative Packaging- Certify as British.
Finance: Option Agreement, Prepare Estimates, Preliminary Budget, Secure Pre-Sales.
Production: Pre-Production, Principal Photography, Post-production
Distribution: Video/DVD/VoD Licensing, Broadcast License
Exploitation: Cinema Exhibition, DVD Rentals and Sales, Download to Own.