Last year Jim Horwitz and I met with some officers from the independent film production company, The Film Department. They were gracious and forthcoming about the issues facing independent producers. At the time of our meeting, they informed us that only about 25% of the independent producers were still in operation (about 11).
I'm sorry to say now there is one less, because The Film Department, despite making over $90 million dollars could not obtain financing to continue in operation. They were left with a film starring lovely Catherine Zeta Jones that was still looking for a distributor and might have to go direct to DVD. What a shame, they were the brightest and the best, and found it impossible to wring the necessary dollars out of the money-men to keep on making good and entertaining movies.
What is wrong with this picture. Everything! (I think that was a pun, but we'll let it pass.) They had to film where they could receive the best tax incentives, and guess what, it wasn't California. So we don't have to worry about their productions running away from California, because there is no longer a production company.
Oh, these talented people will find a way to make movies, or not. Maybe its too darn hard. What do you think?