Deferred Payment Solutions for Filmmakers
A Guide for Money Practices when Dealing with Cast and Crew
Oct 18, 2009
Many independent film projects are produced using alternative methods to pay staff members who work on these productions. The deferred payment is one alternative method applied often to bypass hourly and day rates for talent, production employees and contractors. Here are options that filmmakers can use when offering deferred payments to actors and crew members.
Send Periodic Updates
Monthly or quarterly updates can be one of the most valuable deferred payment solutions for filmmakers. They are most useful in circumstances where a film project does not automatically generate significant amounts of revenue upon release. Find out if actors and film crew are content with receiving updates on a production that has deferred payments attached.
Some staff members on film productions may welcome these updates while others consider it to be unnecessary. Sending non-monetary updates such as postcards and formal letters will likely disappoint actors and film crew who are only concerned with being paid. In these circumstances, it is best for filmmakers to wait until all monies owed can be distributed to those who signed deferred payment agreements.
Keep Track of Performance Statistics for Online Distribution
Filmmakers who distribute their films online through various video websites must carefully monitor how well their projects are performing. This is especially important when hosting a film on websites that only offer some form of revenue sharing as payment. Many of these online video websites are fairly new to their industry and may go offline and out of business without notifying their users. This can put filmmakers in a losing position because there is no way to retrieve statistical information from some websites that stop being hosted online.
Every filmmaker who uploads his or her video on a revenue sharing website should monitor the performance statistics on a daily basis. This will help keep track of how many views, votes and comments a film has received. Tracking films that are uploaded to online video websites will help to determine if any money should be distributed to cast and crew members, depending on the deferred payment agreement.
Use a Professional Payroll Service to Distribute Deferred Payments
Setup a distribution strategy for deferred payments in advance to prevent fraud, disorganization and disputes with cast and crew members. Payroll services are one option that can be utilized to pay cast and crew members and keep the process in order. There are professional payroll services that specialize in film and television, giving filmmakers a better alternative to making deferred payments in cash.
A payroll service also makes it easy to track cast and crew payments for tax purposes. While these services charge a small fee, they are also a better deferred payment solution than using personal checks and money orders.
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