Taking a cue from Paramount, reporting December 2009 on the same production initiative, indie film studio Lionsgate has now made public their plans to produce "microbudget" movies, "...to develop talent and make money in tough economic times..."
Under a new film division, Lionsgate will develop features with budgets less than $2 million, along the lines of "The Blair Witch Project" and "Saw" franchises.
"Microbudget films involve minimal overhead and very little risk, but a potentially high reward," said Joe Drake, head of Lionsgate's motion picture division.
"The productions will function as an incubator for promising new actors and filmmakers," said Lionsgate executive Michael Paseornek.
"They will experience the best of both the independent and studio worlds -- the freedom to make the movies they envision, but with the infrastructure, support and guidance of our studio behind them. We expect this arrangement to translate not only into some great films with the potential to really break through, but into productive ongoing talent and filmmaker relationships that could pay off in lots of different ways."
The first three movies announced under the new plan are the comedies ""Rapturepalooza", "Gay Dude" and the supernatural thriller "6 Miranda Drive".Lionsgate plans up to 10 microbudget movies a year, mostly in the comedy/horror genres, "both of which are sweet spots for the company, and historically driven more by concept and execution than budget."
Basically the studio will look at the feasibility of shooting/editing non-union productions in HD video.
Basically the studio will look at the feasibility of shooting/editing non-union productions in HD video.
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