Post #15- SkyDance Sports Funding and Budgeting

 Budgeting and funding is a significant step when trying to plan for a production. Production companies may do things such as fundraisers to ensure there is enough money to fund the film. In this blog we will dive deeper into how funding and budgeting work so that Pridgen Productions is aware of the techniques used to successfully budget. 

SkyDance Sports is a well-known production company that produces sports films and docuseries that are backed by a "parent" company. To produce these successful films, funding and budgeting had to take place, and this is how they did it.  

SkyDance sports collaborates with major companies such as Netflix and ESPN. This collaboration ensures proper funding because these major companies are willing to invest large amounts of money into quality content. This provides a sense of security for SkyDance because there is no cloud looming over producers regarding money issues. Because of this, they can focus on other important aspects such as new locations, better technology, and better costuming which all aid in creating a successful film. 

Another example of proper budgeting and funding techniques is the use of sponsorships. Major brands such as Nike and adidas may be willing to sponsor documentaries about notable athletes such as Michael Jordan. By obtaining these sponsorships, necessary money is granted in exchange for a logo appearance within the final product. Sponsorships may also aid in the marketing process of the product. The media company and brand may create a video advertisement where both products are featured at little to no expense for the media company. This is immensely significant because it allows companies to fund necessary things such as paying actors. 

Skydance sports utilize international marketing to help raise money for their productions. International marketing is when a company sells the rights to broadcast their product to certain countries before the product is released. This ensures initial funding for the film, allowing them to get a jumpstart in the process. 

After researching different techniques used to fund a film, I have understood what i must do to ensure my company is successful and enabled to gain profit rather than lose money. If it became necessary, I would have the ability to reach out to platforms like YouTube and ask if they would be willing to collab with me. Another option would be to have the cheer brand, Nfinity, sponsor my product.