Nice press release to keep indie producers feeling okay, but entirely unworkable. SagAftra and indie producers know that talent of any marketable level won't commit to any project unless it's VERY quick and very limited at this time. Also... no completion bonds available to anyone, no institutional finance available. So it's possible but unlikely.
Thanks for sharing, Joe Orlandino! While it may require some specific work to thread this needle, as Shadow points out, it is positive that the guild is trying to support artists in this specific lane. Obviously every step should be discussed with, and approved by, the guild if anyone tries this. Always good to work with the guilds directly and especially during this time.
Smaller budget indie productions aren’t likely to finance through lenders, so they likely won’t need to be bonded. Also, they’re probably not casting A-listers. This strike isn’t ending soon IMO. Once it does, studio content budgets will be lower than ever as they recover from the economic toll. It may give indie producers a chance to find financiers and distributors for a market that will be eager for content.
Nice press release to keep indie producers feeling okay, but entirely unworkable. SagAftra and indie producers know that talent of any marketable level won't commit to any project unless it's VERY quick and very limited at this time. Also... no completion bonds available to anyone, no institutional finance available. So it's possible but unlikely.
1 person likes this
Thanks for sharing, Joe Orlandino! While it may require some specific work to thread this needle, as Shadow points out, it is positive that the guild is trying to support artists in this specific lane. Obviously every step should be discussed with, and approved by, the guild if anyone tries this. Always good to work with the guilds directly and especially during this time.
1 person likes this
I believe Shadow's earlier comment rings true. As streamlined, secure payment systems continue to develop and disintermediation spreads we'll be hearing more and more about guild/union members going financial core. https://www.washingtonpost.com/business/2023/01/19/union-membership-2022/
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Smaller budget indie productions aren’t likely to finance through lenders, so they likely won’t need to be bonded. Also, they’re probably not casting A-listers. This strike isn’t ending soon IMO. Once it does, studio content budgets will be lower than ever as they recover from the economic toll. It may give indie producers a chance to find financiers and distributors for a market that will be eager for content.