The film industry is one of the most expensive and profitable in the world. A movie, from start to finish includes various players and aspects that require a great deal of money to be shoveled out. From a star-studded cast to the marketing tactics, when broken down, it is easy to see why a movie production can cost well over $100 million.
The promotional and marketing budget for a film is often the most expensive as it often sets the tone for its success. Think about it, if a production company didn’t spend the money to make a trailer, pay for commercial slots, and promote across social media, would anyone even go to watch it? The answer is, probably not. Unless there was some way that films could be promoted like wildfire through word of mouth, marketing is a major key for a movie to flourish. On average a production company will spend close to $40 million on marketing. This includes the creation and distribution of trailers as well as TV and social media ads. A film typically sees a majority of its success within the first two weeks, which is why a strong advertising and marketing campaign must exist.
When it comes to movies with big names such as those mentioned in a previous blog, their paychecks contribute to a major part of the budget. Along with the stars being paid the big bucks, directors, and producers don’t leave with their pockets empty. Making sure to maintain a solid relationship with production companies and all of the others involved in the movie. When you combine all of the estimated salaries of the top earners from a film, you already have about $50 million.
The film industry remains wealthy beyond compare. Plenty of the professionals involved in the business seek work that will compensate well. When it comes to budgeting for a film, there are so many prospects to consider. Look out for more blogs in the future about film budgeting and how production companies stay cost efficient!