Round 0

Overview
Overview
As a team of budding filmmakers, you have been presented with an opportunity
that many young filmmakers dream about. After years
of producing independent motion pictures, recent success and accolades have
garnered the attention of LIVE Studios, a major Hollywood film studio that has given
you the opportunity to oversee the development of a major motion picture.
Film production is a complex process that requires a great deal of planning, financial
commitment, and human resources. As such, it often takes years for a film project
to move from conception to release. Each team will be challenged to take on the
responsibility of all functional areas of business and will go headtohead against
other teams competing in the global film industry.
Step 1: Story Rights and Screenplay
At the beginning of the competition, teams will be introduced to the first step of the
pre-production process selecting and ultimately purchasing the rights to a story
and screenplay. Teams will have the opportunity to select from three different
genres.
Step 2: Budgeting & Financing
Upon selecting an actionable script, filmmakers must assess the financial
requirements of their motion picture. Production costs tend to correlate with
genre for a number of reasons. For instance, action films tend to demand high
profile stars and cutting-edge Computer-generated Imagery (which Horror films
do not use to the same degree). However, action movies also generate much higher
revenues on average. Below, you will find a breakdown of production costs against
average gross revenue in the first 12 months of distribution.

Revenue Across Genres

180000000
160000000
140000000
120000000
100000000

Average Gross

Average Cost

80000000
60000000
40000000
20000000
0

Action

Drama

Horror

Step 3: Accounting
The production stage is the most critical phase of the filmproduction process. During this stage, the film director oversees the creative
direction of the film while ensuring that the film follows the production schedule.
During the production stage, you must address the accounting issues that are
common among all businesses. Stakeholders require accurate revenue recognition,
assessment to capitalize on intangiable assets, and financial reporting on an
ongoing basis, and filmmakers must be able to provide this.

Step 3: Public Relations

Combating your efforts of promoting your new film is the media which scrutinizes
any controversy arising from the production and storyline of the film. During this
time of negative publicity, teams must create a strategy to address the growing
concerns of the public.

Step 4: Marketing

As your film continues to generate buzz in the entertainment world, filmmakers

must assess the potential for international distribution. Teams should expand
into the country that will yield highest revenue for their film. Consumer preferences
will significantly impact filmmakers choice in target country.

The Ultimate Winner

The success of a motion picture will depend on effectively managing each task from
inception to distribution. Demonstrating effective business strategy will lead to
strong margins in this industry, which will ultimately measure the success of your
film.

The ultimate winner will have taken their motion picture through each
step of the production process with the greatest success and be crowned
the LIVE FLC 2015 Champions!