slingshot challenges status quo with innovative new film-making venture
A new all-digital independent film production and distribution company has been formed to offer British film-makers the environment to make innovative and critically acclaimed pictures that would otherwise not make it to the big screen.
Founded by Arvind Ethan David, Rachel Connors and Thomas Hoegh[i] the Ealing Studios based company will finance, produce, distribute and market a diverse slate of 10 low-budget feature films over the next three years, exploiting digital technology to revolutionise all aspects of film development and production.
Slingshot has secured financing from top tier venture capitalists Arts Alliance Productions and the Creative Capital Fund, both of whom are specialist investors in the media sector.
Slingshot’s financial structure is a unique profit share production finance model stemming from its belief in aligning interests between talent, audiences and investors. For reduced initial fees, creative and technical professionals receive a percentage of producer’s gross participation. This alignment of incentives reduces risk for all parties as well as ensuring that all receive financial reward from successful films.
Slingshot plans to majority finances its films, keeping budgets low and at a level that the market can support. furthermore, slingshot is leveraging all that digital technology is doing to radicalize the film industry – from production (shooting exclusively on HD and posting in an all digital environment); to distribution (distributing within the digital screen network, pushing the envelope on VOD) and marketing (embracing the internet as the most effective way to bring audience and talent into a relationship with each other). Investors benefit from both a rationalised initial investment and a more systematic exploitation of the filmic assets.
This model has already attracted a diverse and impressive range of talent including Aschlin Ditta, co-creator of The Catherine Tate Show, director Vito Rocco (Suburban Shootout) and producer Matthew Justice (Blade, The Russian Dolls). The first feature is set to shoot late summer 2006 with a second shoot slated for autumn 2006.