The film and media industry is taking growth leaps every year. In 2016, the Kenyan film industry revenue earnings were reportedly 200 billion shillings. In 2017, the Kenya Media and Entertainment Industry were estimated to be worth 216 billion shillings and were expected to hit 309 billion shillings in 2020. The reports point to increase in value of the film and media industries.
These
industries have immense opportunities and production companies are coming up to
exploit the hidden treasures of the ever-growing creative economies. As a
filmmaker or media producer, you may wish to start a production company. It is
a tricky industry and you need to learn the ropes before you venture into the
industry. We have hacks for you.
The Idea
This is the
most difficult stage as you need to figure out what you want to do. You may
decide to venture into films, commercial or industrial. It’s advisable that you
pursue a path you’re skilled in. A media trainee may take the commercial or TV
dramas route while a film producer is highly likely to be successful in film
production.
Write your
short-term and long-term goals and identify your strengths. Conceptualizing the
idea is important before you start developing your company.
Study
the Market
Do a lot of
research in your area of interest. If you choose to do commercial production,
then research your area to gauge the market and other players in the industry.
Pay attention to services offered and fees charged by other companies so that
you find ways of competing in the market.
If you opt
for the film industry then seek areas you are talented in. A skilled artist may
offer pre-visualization services while someone skilled in promotions may be
involved in film marketing. Review the history of established production
companies to learn more about the industry.
Creative
Name
The name
you give your production company is as important as your services. This will
become your brand so come up with a relevant tag. Your company name should
stand out.
One of
Hollywood’s accomplished directors, Steven Spielberg has named his production
company, Amblin Entertainment. He named it after his first completed film,
Amblin.
Legalities
Starting a
production company involves trade-marking your name. You need to acquire the
services of a lawyer to help you file your trademark. Before this, you must
come up with a unique name. Having a name close to another production company
won’t get you a trademark.
Type of
Company
Figure out what type of business your production company will be. This will affect the tax fillings. This information will be required by the registrar of companies. Your company may be a sole proprietorship, Limited Liability Company, Cooperative, Corporation, or Partnership.
Certified
Public Accountant
Find a
Certified Public Accountant. He will be in charge of all accounting relating to
your business. A CPA will help you fill in your taxes and set financial goals
for your business. A CPA is crucial to your business so you may need to find
the right person for you. Do your research so that you get the right person for
the job.
Business
plan
Every
company must have a business plan to operate. This is the blueprint of your
business as it stipulates your company’s functions, policies, and goals. Include
a mission statement that contains your mission and ethics. This will guide
your daily operations. For example, your plan may carry how you will make money
from your films.
A business plan is vital for a production company. If you don’t have a background in business or law, you may seek the services of a business lawyer. The plan should include your research and market analysis. It helps you to gauge the performance of your production company.
Attorney
Consult an
attorney when starting the operations of your business such as hiring staff so
that you adhere to the rules and regulations. An attorney helps you to deal
with copyright issues such as protecting your work from copyright infringement
and intellectual property.
Finding a
good corporate or company attorney is essential for your business because you
need representation. This is a costly venture so you need to research and
choose the ideal attorney you can afford.
Capital
Getting
start-up capital for your business is an uphill task. You will need money to
buy quality equipment. When it comes to film production, pre-production is the
cheapest stage. You can float this stage and come up with an idea which you can
present to potential investors to seek funding for your film.
If
necessary, you may take a business loan.
Work
After all
the development and planning, get down to work. You need to network with other
industry players. In this age of the Internet, maintain a presence online such
as establishing a website and social media accounts.
Hire staff
depending on the scope of your project. Hire only the people you need, from
scripting, technical to casting and editing.
When you’re
starting your production company, consider producing shorts, basically short
films that you can submit to film festivals to build your brand.
Take advantage
of the Internet. Share your content on digital platforms such as YouTube as
this gets your name out there.
Some of the
production companies in Kenya are Blue Sky Films, Protel Studios, Moonbeam
productions and many others. Kenya has hundreds of production companies and
most of them are individually owned, so you can own one too.