Production Incentives Pain Point #1 (ugh!)
Sound familiar?
You’ve spent months developing a great series.
You’ve poured countless hours into crafting the concept, tracking down the right characters, and cutting the perfect sizzle.
Finally, it’s time to pitch.
Meeting after meeting…call after call…when (YIPPEE!), a streamer finally shows interest.
Oh happy day!
But there’s a catch. They say your budget’s too high.
Is anyone NOT hearing that feedback these days?
You labor to tighten the budget as much as possible…but you still can’t hit their budget target.
Then the streamer asks if you’re leveraging production incentives.
“Err…sure,” you respond, secretly thinking, “Ugh, production incentives. What a headache. All that research… all that record keeping and reporting. Are they really worth the effort?”
We’ve heard that before!
To guide you through the morass, we’re dedicating the next several issues to addressing the most common production incentives pain points. That includes incentives research, record keeping/reporting, and the mysteries behind the auditing and tax credit brokering processes.
If those topics give you hives, this series is for you!
And if it can help someone you know…well, you know what to do…
Pain Point #1: Incentives Research
So many incentives…where does one even begin?
For those new to the process, there are some basic FREE TOOLS that help take the pain out of researching incentives. Of course, rules, requirements, and funding around incentives are constantly changing, so always verify, verify, verify!
PSST! Read to the end to score a *hot deal* on a shortcut to becoming an incentives expert!
RELIABLE & COMPREHENSIVE: The Olsberg Global Incentives Index
“Old Reliable,” Olsberg’s global production incentives bible is updated twice a year. The May 2024 edition covers over 100 jurisdictions, with details on the incentives offered, requirements, budget/annual caps, deadlines, links for each program, and more.
While it’s one of the most reliable and comprehensive sources, unscripted producers may be frustrated by the lack of specifics about what types of unscripted content qualify in each jurisdiction (given that some extend incentives to, say, documentaries but not reality shows). Obviously, since it’s released twice a year, it won’t have the most up-to-date changes to programs. Regardless, the Olsberg Index offers a wealth of information, available for FREE—you just have to register to download it here.
HELPFUL FOR UNSCRIPTED PRODUCERS: Entertainment Partners (EP)
We love Entertainment Partners’ global online incentives search tool for the level of detail it offers unscripted producers. Where the Olsberg Index falls short, EP breaks the unscripted category down to indicate if an incentive applies to a variety of individual categories, including reality, game shows, animation, talk shows, post only, commercials, and video games.
The easy-to-read format details at a glance if/how the incentive applies to resident v. non-resident labor, if there are any uplifts, if a credit and audit are required, and if loan outs have to register and pay local taxes. Like Olsberg, the EP online search tool also lists contacts and websites for each program. We’ve occasionally encountered outdated information, but it’s a great starting point, especially for unscripted content. They also have a URL that’s easy to remember: productionincentives.com.
BEST FOR SIDE-BY-SIDE COMPARISONS: Cast & Crew
Wondering if the incentive is more competitive in Georgia or Illinois? Want to compare the incentive in Alabama v. Connecticut v. Arizona? The Cast & Crew site is for you.
Their unique tool enables users to quickly compare incentives in up to six jurisdictions in the US and Canada. The tool doesn’t, however, indicate which categories of content qualify in each jurisdiction. For that information— as well as details for jurisdictions outside North America — turn to its comprehensive Tip Guide (downloadable here). We love the combination of at-a-glance details and full-page breakdowns for each jurisdiction, and the introductory section is great for beginners.
REMEMBER: incentives change constantly. Don’t assume any rebates and tax credits are still valid until you verify it with the incentives administrator directly.
Have more incentives pain points you’d like us to dig into?
Still daunted by the incentives research process?
We don’t blame you.
We’re always here to help. Just drop us a line here.
We promised you a *hot deal* on becoming an incentives expert, and here it is:
The wonderful Association of Film Commissioners International (AFCI) is dedicating an entire in-person, hands-on workshop to the topic during their big AFCI Week event this August.
The 90-minute session, Working Through Taxes Incentives for Film Commissioners & Producers, will help producers connect with film commissioners and successfully navigate the incentives application process effectively.
It will be held Sunday, August 25th, 2024 from 4:15pm -5:45pm at the UCLA Meyer and Renee Luskin Conference Center in Los Angeles, followed by a cocktail hour from 6:00pm - 7:00pm
If you register here now, you can score a 50% DISCOUNT using the code VIPCARRIE. Space is limited (when I last checked, only 18 seats remained!).
Interested in expanding your knowledge and networking opportunities even more? Consider attending more of AFCI Week!
Purchase a two-day pass and be a part of the inaugural “Film Industry Challenge” - an interactive session where you and fellow industry participants play a role in identifying solutions to hurdles affecting all aspects of the production industry. One- or two-day pass purchases using the code VIPCARRIE receive a 40% discount. Register here - and let me know if I’ll see you there!
Production Companies: Need help navigating the production incentives puzzle? We can match your company’s production and development strengths and slate to locations that offer incentives.
Just reach out to us at carrie@globalcontentstrategies.com, or via our website.
Film commissions: Need help luring unscripted productions? Want to brag about your own incentive in this newsletter?
Give us a shout at carrie@globalcontentstrategies.com.
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