Funding

Currently

The majority of investors for Australian TV dramas are from the film and TV industry itself – ie. production and distribution companies, commercial broadcasters, ABC and SBS and also pay TV. For many film or TV productions, their first step to getting funding is approaching their relevant government funding bodies. At the moment, these include the Film Finance Corporation (FFC), the Australian Film Commission (AFC) and also state funding bodies, such as Film Victoria. An application for funding is submitted to these organisations, and each application is then assessed. A summarised version of the AFC submission and assessment process for drama productions is as follows:

- Submit your application before the closing date – there is always a lot of competition for funding, so make sure that you have filled it the correct forms relevant to your project

- The AFC will give you written confirmation within 2 weeks time of your application

- Staff will then check whether your project is eligible for funding (those that aren’t will be notified by letter or email).

- The assessment begins, and projects are shortlisted. Interviews with shortlisted applicants may occur after this, before the assessments are finalised and sent to the Director of Film Development, where the final decisions are made.

The not so distant future

Screen Australia will be introduced from July 1, 2008. The new funding body will merge and replace the current FFC, the AFC and Film Australia. According to the Arts and Culture page of the Australian Government website:

The new agency will continue the work of these three agencies by supporting productions of national significance and public interest and providing practitioner and industry development, access programs and promotional activities.

The agency will have a strong cultural focus and will support development of a sustainable Australian screen industry by strengthening screen businesses.

Funding for our project

Our project needs initial funding to get off the ground – mainly for the production of the shorts. When I interviewed Ross Matthews, Melbourne Investment Manager for the FFC, he stated that Screen Australia would be more interested than current government funding bodies in supporting our type of project. However, he did add that receiving funding from them would not occur immediately after Screen Australia is established – the likelihood is that there will be a gradual shift in funding trends, and it would be easier to receive funding about 6-12 months down the track.

After research and speaking to industry professionals, we’ve decided on the following approach to gain funding for our project:

• To raise the initial funds required, we will hold fundraising campaigns. Our goal is to launch a professional website and create a good quality trailer for under $10,000. The website will clearly specify what we plan to do, will feature the trailer and also contain a page where audiences cans submit their favourite ideas.
• We show the trailer and website to potential investors – relevant advertisers or production companies (including government funding bodies) and explain our idea. The likelihood is that more advertisers will get on board at the initial stage than investors or production companies.
• With money gained from advertising, we will start generating buzz through viral marketing.
• Whilst the marketing is occurring, members of our team will have generated ideas and scripts.
• With the success of our marketing campaign, we again approach investors, this time highlighting the fact that we already have an established fanbase. This time, the investors are interested, and we are able to begin production on the shorts.
• The completed shorts are uploaded to the website, with people able to comment on the character or the episode.
• With everything up and running, we approach a broadcaster, who takes us on board.

Another option is to produce our TV series in collaboration with another company, one that is releasing a product that may be relevant to our theme. For instance, MTV teamed up with Doritos to make a short series that promoted both companies, and also allowed consumers to be involved. Michael Madigan, Sales Executive, Southern and Western States for 20th Century Fox, said that getting funding for our project, “though difficult, is not impossible.” We believe that with the research we’ve done for viable comedy in Australia, and the application of these techniques, we’d definitely be able to launch the project.