It was recently announced that Rena Ronson will co-head the UTA Independent Film Group (along with Rich Klubeck), after being laid off by William Morris when it merged with Endeavour in May. Klubeck has headed the department at UTA since 2004. Ronson will focus on film financing, packaging, foreign sales and distribution strategies.
Ronson began her career in the foreign sales business and was originally at the helm of Lakeshore International (where she oversaw a 350-title film library), before joining William Morris in 1998. During her time at William Morris, Ronson secured financing and distribution for over 150 films. Some of the movies she worked on included “Monster’s Ball” and Jason Reitman’s “Thank You For Smoking”.
Most notably, in 2008, Ronson organised a partnership with Screen Capital International to form a film financing venture called “Incentive Filmed Entertainment”. This venture has assisted in raising funding for established production entities including Mark Canton Company.
Independent film financing and packaging has become a staple for the “big four” Hollywood talent agencies. Indie units can offer a project access to talent and credibility and they can assist novice producers to make vital connections in the film industry.
In 2006, Paul Haggis’s “Crash”, packaged by CAA’s indie division, received the “Best Picture” Oscar. The agency was involved with the movie from start to finish. CAA found the material, arranged attachments like Brendan Fraser and Sandra Bullock, arranged financing and sold the movie at the Toronto Film Festival.
However, the process is not all smooth sailing. Even with assistance from one of the “big four” agencies, it can still be a challenge to get a film made.
Three components that usually need to be present in order for a film to have a chance of being made are a good script, validation from a trusted professional, such as a manager, agent or attorney and at least one quality attachment, such as a director or lead.
When it comes to financing projects, the “big four” often won’t consider financing a project unless the budget is greater $1 million. ICM’s indie division head Hal Sadoff, who has a background in banking and finance, prefers a minimum budget of $5 million. He states, “it’s about time management and resources”.
There is a perception in the marketplace that packaging is only about attaching talent and locating financing. However, the process also involves developing, distributing and marketing the film. Indie agents also have to be mindful of opportunities in ancillary markets, such as possible sequels, TV applications, stage adaptations etc.
Gene Goodsell is the Director of Global Entertainment at aspire management. He is a practising lawyer and has a law degree with honours, a business degree and is currently completing a Masters of Laws. He is a member of the Beverly Hills Bar Association and is one of the only entertainment agents in Australia specialising in locating film financing for Australian and US clients. Prior to becoming an entertainment agent, Gene worked for a hedge fund financier in Mayfair, London.