A licence fee is a payment made by someone to a government agency in order for them to provide a service. (BBC Films)
Personal Investments mean that the party (individual person or company) have made an investment into making this production, they essentially fund all costs needed for everything needed to do with the production. This could include things such as, the camera's (lenses) camera men , light stations , hire or buy editing software. An Executive Producer who in the context of making a film for instance is in charge of overseeing things like the budget and if it is under/over, if the film is completed on time etc. Therefore, some executive producers can sometimes fund their own productions, without any grant or loan from anyone else. They're are in one of the top positions in the pre-production process and because of this they often have tones of money to spare, for which they can fund a whole production piece.
The next method of film funding is done via the National Lottery. The British Film Institutes gets regular funds from them to make and fund films, help fund short films for promotion and for small projects such as young people's film ideas. On the left is a screen grab of the film fund team at the BFI, the director of lottery film fund is responsible for overseeing the BFI's investments and keeping a check on the income they get from the National Lottery. This method of film funding I would say has more benefits than drawback because as a major organisation the BFI are quite lucky to have the financial support from the National Lottery. Also they often hold young people's events where they get the chance to meet people within the industry and express their ideas. This is an advantage to us teenagers because as film is a difficult industry to get into, learning about it from now will increase those chances of finding a space. Also, I personally have been taking part in a work experience program with a film company called 'Creative SparkWorks' who are funded by the National Lottery through the BFI. Without this opportunity I wouldn't of been able to use industry equipment or have tutors who work in the industry.
Crowd sourcing has become a common method of film funding. It is a way of coming together as an audience or crowd of people and collectively funding a production, which is posted through a pitch on the kickstarter website.
There are several options for people to contribute to for example , video games, Art, Food, Music, Journalism, Dance and so on. For this blog I will focus on the funding for films. Every week the kickstarter website is updated in accordance of the statistics for each pitch, so when someone posts their film idea people/ the public can hit like, and send off a fund this can be any amount. The example to the right shows that the film 'The missing ingredient' has reached $10,631 dollars. There are many advantages we could draw with this way of funding films, for example as you're getting financial support from complete strangers, it is a way of enhancing your personal confidence , because this way you're no directly asking people to fund your film. Another advantage would be that people can put in any amount of money as there isn't a limit to how much someone will need to contribute, this is good for people who simply want to socialize and don't mind giving money and helping something develop. It gives people of a regular background or those who have never had any film experience an opportunity to explore their likes/hobbies/talent etc. The down fall to this could be that someone may steal your idea, because once you've posted it and everyone has seen it, the likely hood is that if it isn't successful , someone else may tell it better and therefore steal it. Another disadvantage to this is that although you may be able to raise a lot of money, this doesn't mean you'll be able to fund your film well because, for example if you wanted to hire a camera man instead of buying equipment, it will take a huge amount for only a few days worth of filming.
An example of a film that has gone over budget is the Disney animation 'Tangled'. This film was first released on January 28th 2011, the reason for it being over budget was because the development of the film kept started and stoping many times, where costs include writing, story boarding and making versions of Rapunzel. Also, the CGI and animation that went into the film to make the characters look as realistic as possible and lastly staffers charging for the production in its early stages.
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