Faith-Based Films as Investments

by Jon Speed

So Christopher Nolan had a public meltdown over Warner Bros.' decision to release all of their 2021 films simultaneously at the theaters (or what's left of them) and on HBO Max.

At issue is the fact that without theatrical releases, you cannot spend $200+ million on a big-budget film because they only work on big screens. No, not YOUR big screen. Think 90 feet by 30 feet.

What is getting passed over in the flurry of articles about Nolan is the fact that he tends to spend more money than he can get his hands on to make a movie. Keep in mind this is the guy who prefers to use real film rather than digital (he collaborated with other filmmakers to save Kodak from bankruptcy to keep real film as an option), expensive on-site locations instead of studios, and has popularized the use of IMAX cameras (which cost $250k-$350k for non-3D, $1 million for 3D).

Nolan knows (or he should) that great filmmaking doesn't require any of these things. Especially a theater release. At the end of the day, film making is, at least in part, an investment. That means you have to think not only about the characters and the story, but about the budget and what it gets you in return. Ironically, he is thinking too small on profit margin while he thinks too big on everything else. Tenet cost $200-$225 million to make and made $300 million on HBO Max. Granted, $75-$100 million is nothing to sneeze at, but it is not a great return-on-investment, especially during this last year.  And now Warner Bros. is apparently planning on more of the same. 

But what if Christopher Nolan tried to rethink his game plan and better understood the investment side of movie-making?

Faith-based films can actually provide a better ROI. For example, Facing the Giants (2006) cost a little more than $100k to make. But it made more than $38.5 million. Fireproof (2008) cost about $450k but made more than $57 million. These are just some examples of how making a low-budget film can still result in a good movie with a good message, as well as a good return.

The issue is not screen size, film versus digital, or IMAX cameras. It's marketing and distribution. Yes, making a movie is an art form, but it’s also a business. The filmmakers who understand both sides of this coin are the ones poised for success in the future. And investors who are aware of the opportunities are best positioned to make an impact.  

[Photo by Jakob Owens on Unsplash]