Micro Market Returns with Opportunities for Completion Funding
Date posted: 11.06.2014
The Film London Micro Market will take place alongside the established and successful Production Finance Market (PFM) on Thursday 16 October.
Following a successful pilot in 2013, it is a film finance market for projects budgeted under €1m and connects UK filmmakers with financiers seeking micro and low budgeted features, as well as providing crucial training. Micro Market is now also open to projects seeking completion funding. Deadline for applications to Micro Market is 7 July.
"I am thrilled we are able to connect filmmakers with potential completion funding - this is a rare and important opportunity for the UK's filmmakers," says Adrian Wootton, Chief Executive of Film London and British Film Commission. "I am also pleased to welcome producers and financiers from Ireland and mainland Europe to the Micro Market. We want to ensure this event is dynamic and responsive and delivers for the industry."
What is Micro Market?
Modeled on the PFM, the Micro Market aims to meet rising demand for micro and low budgeted feature projects. Supported by Creative Skillset, it will provide filmmaking teams with the chance to pitch to financiers looking to source projects budgeted at €1M and under. To prepare for the Market, the scheme provides successful applications with comprehensive training in negotiating, deal-making, packaging projects and delivering a winning pitch.
The inaugural Micro Market had many leading financiers in attendance including:
- Ingenious Media
- Bob & Co
- Coffee & Cigarettes
- Creativity Capital
- D5 Entertainment Ltd
- Independent Film Sales
- Vertigo Films
The Market will be expanded in 2014 to accommodate 25 teams and 25 financiers (up from 20 in year one) and will include producers from Ireland and mainland Europe for the first time. Film London will ensure an expanded list of financiers will be available to support these teams.
Teams will have the chance to discuss their projects with selected financiers including representatives from sales companies, investment funds, post houses, online and VOD platforms and public agencies.
A full day of training in negotiating and deal-making is followed by a half-day focusing on pitching the day before. Each team has a mentor to support them as they develop how their projects are packaged for the future and a final debrief training session will take place following the Market for film teams to reflect on the learning and experience as they develop their packages for the future.
From the 20 projects pitched at the inaugural Micro Market in 2013, three have secured funding. Dartmoor Killing starts shooting this month, and a further two are closing investment deals.
"The Micro Market really helped us think about the future of our film," says Peter Nicholson, the writer/director of Dartmoor Killing. "Not just getting it made but the crucial journey the film takes into marketing, sales and distribution and who the potential partners for that journey may be. As first time feature producers, we came out of the process a good deal stronger and with key industry contacts for the future."
Can You Apply?
In order to attend the Micro Market, filmmakers must be based in the UK and have a fully-scripted first or second feature ready to be financed, with a production budget of up to €1m. Up to 25 places are available. Deadline for applications is 7 July.
Film London is encouraging applications from producers with near finished projects, which require additional investment to be finalised for delivery. It will only consider projects that require a further 20% of the total production budget.