Co-Chairs:
Warren Nimchuk, PricewaterhouseCoopers LLP
Liz Skoler, MTV Networks
David Zitzerman, Goodmans LLP
Tuesday, September 23, 2008
7:45 AM Conference Registration & Continental Breakfast
8:45 AM Conference Welcome and Co-Chairs Comments
9:00 Review of Emerging Trends in Film & TV Finance
- What’s Hot – What’s Not and Trends for the Future
Patrick Russo, The Salter Group LLC
9:30 Structuring Financing from Hedge and Private Equity Funds
- Amount of funds available and preferred size and genre of films preferred
- Types of deals completed and for whom
- What attracts hedge funds and institutional investors to film finance-uncorrelated risk issue
- Split between senior debt, mezzanine and equity-rate of return sought for each
- Successes and problems encountered
- Single films versus portfolios of slates
- Financing studios or independent producers-importance of track record
- Syndication opportunities
- Controlling P&A expenses to improve ROI
- How investment bankers structure hedge fund financing
Moderator: John Burke, Akin Gump
Panelists: Laura Fazio, Deutsche Bank
Patrick Russo, The Salter Group LLC
Mark Pinkerton, Paramount Pictures
Andrew Grapkowski, Lehman Brothers
10:30 Break for Refreshments
10:45 Attracting High Net Worth Equity Investors to Film Financing
- Is it “stupid money” or can an individual investor make money in Hollywood
- How and why do individual investors typically get involved in film financing-what’s the motivation
- Role of the investment banker in tapping into their client base
- Size, cost and preferred genre of film financed by private equity investors
- Advising private investors on tax, legal and accounting issues involved
- How to anticipate, “what can go wrong, will go wrong.”
- How to structure a deal with these investors to improve chances of success
Co-Moderators: Warren Nimchuk, PricewaterhouseCoopers,
Andrew Hurwitz, Schreck Rose Dapello Adams & Hurwitz
Panelists: Marilyn Haft, Duval Stachenfeld LLP,
Warren Fergus, Magnolia Lane Financial
Vinca Liane Jarrett, FilmPro Finance LLC
11:45 Structuring a Financing Plan for an Entertainment Series
- Sharing the financial risks in developing the series
- Alternative financing structures
- Taking advantage of soft money incentives to reduce costs
Moderator: Liz Skoler, MTV Networks
Panelists, John Morayniss, Blueprint Entertainment
Bill O'Dowd, Dolphin Entertainments
Jerome D. Blake, Sundance Channel
12:30 Q&A Session
12:45 Luncheon
1:45 Current Developments and Availability of US State Film & TV Production Tax Incentives
- Why are states competing to offer film production incentives?
- What’s available for TV productions, made for TV films and mini-series
- What type of incentives are available –rebates, subsidies, grants, transferable tax credits, others
- What types of production costs are covered and which typically are not
- What percentage of a film’s or TV production costs can be financed using these credits
- How do you sell or transfer tax credits-what’s left after fees and commissions
- How long does it take to get your money
- Getting opinions on what would be available from tax incentives and using this to obtain advances from banks
- How to apply for these credits
- Are funds unlimited or do they run out each year?
- Practical tips, pitfalls and traps for the unwary in using state tax incentives
Moderator: John Hadity, Hadity and Associates (formerly EVP of Miramax)
Panelists, Joe Chianese, Entertainment Partners
David Molner, Screen Capital
Tom Adamek, Stonehenge Capital
Mary Ann Hughes, Disney
Nicholas Paleologos, Massachusetts Film Office
George Norfleet, Connecticut Film Commission
Sharon Pinkenson, Greater Philadelphia Film Office
Antonio J. Sifre, Sein Toro Colon Mullet
Kevin Segalla, Connecticut Film Center
Pat Kaufman, New York State Film Commission
3:15 Break for Refreshment
3:30 State, Federal and International Tax and Accounting Issues in Relation To Film Financing
- State and local tax issues affecting the production company-sales tax, etc
- State audits and financial reporting requirements
- Federal tax treatment of rebates versus transferable credits
- Federal tax treatment of development costs
- Film amortization issues
- Tax structuring strategies when planning to use state tax credits
- Tax issues in doing a foreign production-VAT, currency issues, PE issues
- Using Sec. 181 tax credits
Moderator: Warren Nimchuk, PricewaterhouseCoopers
Panelists: Jonathan Isle, PricewaterhouseCoopers LLP
Tom Nardozzi, PricewaterhouseCoopers LLP
5:00 Summary and Q&A
5:15 Conference adjourns –Networking Reception begins
Wednesday, September 24, 2008
8:00 AM – Continental Breakfast
8:45 Co-chairs Review of Day one and Preview of Day Two
8:50 Keynote and Welcome
Pat Kaufman, New York State Film Commission
9:00 Developing and Financing Cable TV Documentaries
- Networks and cable channels as sources and seekers of finance
- Economics of made-for-TV documentaries
- Acquiring documentaries for cable channels
- Short versus feature length documentaries
- Theatrical release versus needs of pay channel subscribers
- Tax credit incentives available for documentary films
- US and foreign partnerships with U.S. public television
- Partnerships between TV and cable networks and independent film companies
- Generating revenues through alternative distributing channels
Moderator: Victoria Cook, Frankfurt Kurnit Klein & Selz
Panelists: Molly Thompson, A&E,
Sandra Stern, Lionsgate
9:45 Structuring a Film or TV Production Financing Using Brand Integration and Product Placement
- Which type of consumer products companies provide funds for brand placement or product integration
- Do you compromise the artistic integrity of the film to take this money?
- How much money is typically available
- Examples of when brand placement works and when it doesn’t
- Who specializes in arranging these sorts of deals
- Have branded companies set up their own film companies
- Legal and tax issues in structuring a brand integration deal
Moderator: Candice Kersh, Frankfurt Kurnit Klein & Selz
Lori Sale, Paradigm
Kevin McAuliffe, NBC Universal
Guy McCarter, Green Room Entertainment
Robert Driscoll, Davis Wright Tremaine LLP
10:30 Break for Refreshments
10:45 International Film or TV Production Incentives- Update on What’s Available and How to Access Production Tax Credits outside the U.S.
- Canadian Incentives
- German film credits
- United Kingdom film production incentives
- Ireland tax incentives
- Australia and New Zealand film benefits
- Co-production treaties between these countries
Moderator: David Zitzerman, Goodmans LLP
Panelists:
Jonathan Loughran, Irish Film Board
John Graydon, Tenon Group
Karen Robson, Pryor Cashman
12:15 PM – Summary and Q &A
12:30 Luncheon
1:30 New Emerging Digital Distribution and Internet Platforms for Distributing Films and TV Productions
- Latest update on available digital platforms and new technologies
- Downloads to handheld devices and computers
- TV programs or films on demand to computers or TVs
- Can film financing be obtained utilizing digital distribution
- Demand for content-what type, length, genre, etc
- Scripted TV series pilots direct to media platforms-webisodes
- How digital revolution is likely to change entertainment industry and financing strategies
Panelists: Salil Gandhi, Joost
Kraig Baker, Davis Wright Tremaine LLP
2:30 Refreshment Break
2:45 Economic and Business Revenue Models in the New Digital Media World
- Digital business models utilized
- Direct to DVD model similarities
- What revenues can be generated with digital distribution
- Subscriber versus advertising supported
- Fee to stream versus download to own
- Affect of recent WGA strike settlement on digital media economics
- Revenue sharing guidelines
- MPAA member views on digital media versus guilds member requirements
- Legal issues on intellectual property rights and piracy
- Legal copyright issues and piracy – how to combat
Moderator: JD Tengberg, Deloitte Financial Advisory Services LLP
Panelists: Bill Zuckerman, Kauff McClain
Beth Matthews, MTV Networks
Kraig Baker, Davis Wright Tremaine LLP
3:15 Case Study for a Multi-Country Made- for- TV or Feature Film Co-Production
- Co-production legal and practical issues
- Role of co-production treaties- how many are there?
- What makes a good co-production
- Choosing partners to open financing opportunities
- Complications that might arise-what can go wrong
- How long does it take and what does it cost
- Should independent film makers avoid co-productions
- A case study on how a co-production was completed
Moderator: David Zitzerman, Goodman’s LLP
Carolyn Stamegna, Goodman’s LLP
Joan Fisher, Decode Entertainment Inc
Anne Loi, Decode Entertainment Inc
4:15 Summary and Q&A and Closing Comments
4:30 Conference Ends