Production film budgets differ from television and commercial budgets. While episodic television often use the same budgeting software and overall structures they must separate series costs from individual episode budgets. Commercial and non-film short form projects most often use AICP or a similar structure.
Budgeting softwares like Movie Magic and AICP can cost a pretty penny. If these softwares are cost prohibitive for you and you need a film budget, we’ve got you covered.
film production budget
1. Film Budgeting
Budgeting a short or feature film can be a challenging process. You want to seek a balance between these four distinct categories. Here are the categories with explanations.ATL or Above the Line
Writers, producers, director, main talent, development and travel
Production Budget (includes all BTL – Below the Line)
All production costs, equipment and labor including pre production labor for all positions not included in ATL and its subcategories.
Post Production
All post production costs, equipment and labor.
Other
Publicity, festivals, distribution, attorneys, insurance and any general costs for the production office.
Contingency and Bonds
Contingency amounts and Completion bond costs are usually on their own line on the top sheet and not a part of the above categories.
Pro Tip
Contingency amounts is the overall padding added to a project. It is most often determined via percentage. A 10% contingency is a solid number assuming that you have also slightly padded/inflated major costs to account for the unexpected.
production budget
2. Film Budget Basics
The specifics of a film budget template can vary as much as the resulting film project. The kind of project you are budgeting for has the greatest bearing on the details and accounts you need to consider Project types that can affect the overall structure and detail of the budget.
- Horror
- Action and Stunts
- Animated
- Sci Fi
- Heavy Visual Effects
- Period Pieces (anything set in the past, historical)
Budgeting for a short film is very much like budgeting for a feature, the main difference is the duration and distribution budget. A short film can be equally complex depending on the genre and budget amount.
Budgeting occurs in two different phases, the first budget is created is for the purpose of raising financing.
The second budget is created when the financing is secured and the project is greenlit for pre production.
The first budget is less specific, many times only the ‘top sheet’ or first page totaling the accounts is distributed. The (second) budget becomes very specific once you go into pre production. It is at this point that the numbers become more realistic because they can be based on actual quotes and hires.
Remember many things can affect an individual budget. There are a lot of moving parts and considerations. Experience is the best teacher, if you don’t have experience find a mentor that does.
Pro Tip
If you are the providing budget breakdowns for departments or hiring crew, don’t give the full number. Withhold some of the full rental or purchase totals. If you can hire someone for 500 less that the identified flat or 25 less for the day rate you will thank yourself, later.
‘Nine times of ten’ your keys are going to go over the budget you provide and crew is going to work longer than anyone expected. These small pads will give you the room you need to make sure everyone is taken care of and paid on time.
structure film budget
3. Film Budget Tips
Actors get sick, crew gets hurt, weather doesn’t cooperate, things get broken, damaged and lost. If you haven’t properly accounted for these mishaps you can jeopardize the overall project.
- Account for overtime for your crew.
- Include pick up days. (extra shoot days to get things that were missed during production)
- Include a contingency fee.
- Account for loss and damage (should equal deductible amount) in a few departments.
- Budget for production insurance.
- Include errors and omissions if distributing or selling.
film budget software
4. Film Budgeting Softwares
There are many production budgeting softwares and resulting budget templates. Movie Magic budgeting is the most well known in film and TV. Showbiz and Gorilla and others are also used to budget.
We have provided a production film budget template but it cannot do everything the softwares can. Here’s some things you need budgeting software (or excel genius) to accurately manage. Advantages of a film budgeting software program.
- Accounting for fringes and caps for union cast and crew
- Accounting for multiple currencies
- Grouping accounts
- Generating variances between budgets
- Generating percentage based fees while excluding accounts
AICP is used in the commercial world. While this format works great for all short form projects, like promos and music videos it is not ideal for film budgeting. This is the most expensive budgeting software, which considering the budget per minute for commercials, it makes sense.
If you need help actualizing or managing your PO log download this template. Go here if you need help booking cast and crew and tracking their details. Traveling your crew?, no problem. These templates will rock your world!
First, Download Your FREE Film Budget Cashflow and PO Log
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5. Free Film Budget Template
We looked online for free budget samples. The offerings were less than effective even for a small project. This lead us to create our own. We have followed a generic movie budget to provide the necessary accounts. Remember projects vary greatly, so no one budget can account for everything. As a result, you may need to create additional accounts or sub-accounts to customize your budget to a specific project. No one needs all the sub-accounts.
Once you ‘make a copy’ of the template you can make any changes. Delete what you don’t need, add what you do. Then recheck that all your formulas are working properly. Go to google docs forum if you have any questions about working with sheets. The great thing about using google docs, drive or sheets is that the budget can be shared. Download the production film budget template.
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Wrapping Up
Film budgeting is not something that can be quickly taught or fully covered in a single article. This is just a starting point. We created it for those new to the process that need a useful production budget template as well as those with experience. We hope you found this article and the free budget template helpful. Did we miss anything? Have any other tips or suggestions? Let us know in the comments, below.
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