Boston Screen Partners in the Press
Filmmakers to put B's in 'Brothers' - Boston Herald July 2005
Boston
Screen Partners in the News
CAREER CRUNCH TIME with COACH ED
Good evening and welcome to another edition of Career Crunch-Time with Coach Ed right here on “The Business Station” AM 1060 WBIX. And greetings to those tuning in on the worldwide web at; www.wbixonline.com. I’m your host Coach Ed Adamowicz founder of TOTAL PACKAGE Professional Coaching where it’s all about gettin’ it done…your solution for career pollution.
Coach Ed: And now for this evening’s kickoff…are you consumed with thoughts of a more rewarding and fulfilling career? Are you longing to make a difference? Perhaps your current employment situation compensates you well monetarily, but leaves you wanting emotionally. Are you encompassed by feelings of realizing a life-long ambition and leaving a legacy long term? Do you believe there just has to be something more? Well you’re not alone. This evening’s guest found solace in doing just that. He is Harvey Avidon founder of Boston Screen Partners: “Bringing Investors and Motion Pictures Together.” For 34 years a banking professional and the head of Compliance at BankBoston’s (later Fleet Bank) Asset Management Division he was one of the area’s leading experts in fiduciary compliance and risk management. From investments in individual portfolios to mutual funds to private equity, Harvey oversaw the flow of billions of dollars.
Coach Ed: Welcome to the show Harvey! Comments on his quest for a meaningful endeavor as a conduit to a legacy...
Harvey: Hello Coach Ed and thanks for having me on. You know, when I left my banking career, I had the chance to think about what I wanted to do the rest of my life and one thing was clear to me. I wanted to do something that would make a difference in people’s lives. You know, people leave a legacy behind in a lot of different ways. They accumulate wealth and donate some to charity. They bring up children who go on to college and have successful careers and families of their own. They write books or even build monuments to themselves or others. Legacies are personal things and I chose a mechanism that I think can make a difference to me and many others and that is to help create a renaissance in independent filmmaking here in Massachusetts. You know we have an enormous number of talented people here in the Bay State Ed. There are Producers, Directors, Actors and Technicians. Filmmaking is not Hollywood’s exclusive domain. So, if we can make one great film here, we can build the traction that we need for many more to come.
1st HALF (8 Minutes)
1ST Drive
Coach Ed: Harvey, tell us what changed in October of 2002.
Harvey: Well, Ed. As it happens to so many of us in corporate America,
consolidation through mergers and acquisitions ? usually results in fewer
jobs for people, and of course older workers seem to take the brunt of
the downsizing. I was fortunate though, because I worked for a major national
banking franchise for a very long time, and I was able to reach early
retirement age and take a few benefits with me. A combination of severance
and unemployment permitted me to spend some time thinking about the future
and how I wanted to spend my time. I figured this was my chance to do
something that would not only be profitable but, would provide me with
the chance to make a difference and leave a legacy behind.
Coach Ed: So why Boston Screen Partners and why is it that you believe
this area to be “absolutely the best place on earth for motion picture
and television filming?
Harvey: Well, simply because Boston and New England is? the best place
on earth to film. I mean look at the history we have here, the museums,
the landscapes, the seasonal changes, the diverse cultures, the politics,
not to mention the passion of its sports fans and having four major national
sports franchises, five if you include the Revolution. We also have a
very supportive film commissioner, who has extended every courtesy to
us and has opened the door not only to us, but to everyone wishing to
bring film production opportunities to Massachusetts. We also understand
that there is legislation pending that will provide considerable benefits
to filmmakers whether they are independents or studios. Clearly, this
is a remarkable place to film Ed.
2nd Drive
Coach Ed: Harvey, discuss Boston Screen Partner’s four-fold mission.
Harvey: Well, this essentially is the business model and why we believe we ? can make profitable films. First, we look for films within a budget range of $500,000 to $3 Million Ed. This is what we call the “sweet-spot” for investors seeking returns. It’s a lot easier to obtain a return on a film, in this range, than a studio film at $100 million. Next, we look for films that are probing and inspirational, ones that are commercially viable both domestically and abroad. These are the films that people can identify with and will watch over an over again. We then try to attract talented actors or directors with name recognition to the director’s chair. It’s what is customarily called a directorial debut. We look for respected Hollywood insiders, with considerable episodic television experience, to come on board as directors. And finally, we look for production companies that have meaningful ties to or have already secured distribution. Distribution, Ed is the lynchpin, of motion picture investing, without it, there is no revenue. We’re not inclined to shop our films at festivals to find a distribution deal, that’s too risky, too expensive and too time consuming. We like to know that an arrangement is in place before we place investor’s money at risk. So, that’s pretty much the formula we use and so far it looks like we’ve been successful.
Coach Ed: And who does Boston Screen partners wish to court?
Harvey: Well, we look for individuals primarily, private investors and sometimes venture capital funds, if needed. We provide them with a unique opportunity to finance and profit from the making of independent motion pictures. We believe our business model, coupled with new, unprecedented tax benefits, is a winning combination. We present them with a detailed prospectus that completely spells out the terms of the deal, generous terms I might add. It’s my belief Ed that, if people think they can achieve financial returns that they got in the 1990s during the technology boom, that may be a little irrational. Plus, we see what the equity markets have done recently and fixed income returns are pale at best. We believe we have an asset class now that can rival anything that’s out there today.
3rd Drive
Coach Ed: Detail for us Harvey what distinguishes Boston Screen Partners from other investment entities in film production?
Harvey: I think Ed, it’s the fiduciary umbrella that I place over this whole model. It’s all about building relationships with people and meeting all their expectations while making great motion pictures. After 34 years in fiduciary banking, I place a lot of value in making sure we do business with production companies that are of the highest integrity and have ethical standards that meet my criteria. I want investors to know that their interests come first and I feel it’s my duty, as well as a matter of loyalty to put investors at the forefront of any endeavor. The idea of making movies energizes me and I believe I can create long-term value for investors. I’m convinced that, at the end of the day I can make money for investors in films and that’s fulfilling.
Coach Ed: Then what compels an investor to consider the movie industry?
Harvey: There are a number of reasons people invest in film Ed, in addition to the fact that it can be profitable. They may want to help advance the career of someone they know who is a filmmaker, writer, director or someone else associated with film, or they may be particularly interested in the subject matter of the film or even the message it conveys. It’s possible that they may be looking for a creative way to write-off some passive income as the American Jobs Creation Act of 2004 has provided some significant tax benefits for those investing in film. Some people even like the idea of the glitz and glamour of filmmaking and I would think it’s considerably more interesting than talking about your stock and bond portfolio at cocktail parties.
4th Drive
Coach Ed: From what I know of Private Equity, investors are looking for a substantial return on their investment. True? So how does the American Jobs Creation Act of 2004 play a role?
Harvey: Well, actually, I’d like to know how Private Equity investors define substantial return in these markets, but we believe a film investment, using our model, Ed can rival many other investments. And, as I mentioned, the Jobs Creation Act has actually provided an unprecedented deduction for film investing that can minimize or even eliminate the tax on passive income. Of course, we always recommend that people consult their tax professional for more information on this. Remember, where there is great risk there is great reward. We believe our risk is well managed and our reward can still be great.
Coach Ed: Harvey, realizing there may be prospective investors listening to the show this evening, I’m sure they would appreciate hearing how they can contact you professionally.
Harvey: Absolutely! They can call Boston Screen Partners at 781-341-4522 or visit our website at www.bostonscreenpartners.com
COACH’S CHALLENGE (throw the red flag)
I’m challenging those business professionals out there, both Venture
Capitalists and individual investors alike who are wishing to achieve
a substantial bang for your buck to contact Harvey Avidon at Boston Screen
Partners in Stoughton, Massachusetts.
HALF-TIME [Commercial Break(s)] - (2 Minutes)
2nd HALF (8 Minutes)
ENTERING THE RED ZONE!
Coach Ed: This is the portion of the show where we get to the heart of the matter! In football as well as in life the issue and eventually the outcome is usually decided when you’re in position to score and championship teams as well as successful individuals do so more often than not. Harvey, exactly what is your idea of the “ideal motion picture business plan.”
Harvey: Well, in a nutshell Ed, we are able to combine lower budget films that are probing and inspirational and that have been analyzed for their commercial merit. Add, recognized names as directors and actors and a pre-arranged distribution deal ? and we believe we can achieve significant profitability. You know, many people have been approached in the past by someone asking them to make an investment in their film. Without a prospectus, a business plan, an analyzed script, a reputable firm backing the project this amounts to nothing more than a charitable donation to the artist. Investors have no idea what their ownership rights are, how the money is being managed or spent, who is in charge of production or how long it will take from concept to distribution if at all. Essentially, they can kiss their money good bye. With the success of our next film, we believe we can create a renaissance in independent filmmaking here in Massachusetts. We can employ lots of people and spend about a million dollars in the local economy. Also, anyone who has ever considered or is predisposed to investing in film, this is their chance. We have created a sound business model upon which they can feel confident that their money is being managed appropriately. Having investor owned films also creates more economic benefits than a studio film with substantially larger budgets. Why, because when principal, interest and profits ??are returned to investors, they get to spend that money in the local economy where they are from or even reinvest it in other motion pictures. It’s a win, win, win situation for everyone.
Coach Ed: How can one make a financial investment in a movie and what’s this about Brothers, Bruins and Barstools? Family drama etc. wheel chair investment
Harvey: Well, as far as making an investment, I would recommend that people call me and we can arrange to discuss the merits of an investment like this for them. We are bound by certain regulations regarding private investing and any conversation has to be confidential and in compliance with the governing laws. That said, we are actually working on funding a great family drama called “Brothers, Bruins and Barstools”. The film is about a fictitious hockey star who has a Bill Buchner-esque mishap during the Stanley Cup playoffs, which results in the game being lost. That’s a legacy most of us want to avoid. It’s about how his three sons, all hockey players in their own right, overcome the legacy of fan and media criticism. It’s a film about the power of family values, brotherhood and redemption. This film is going to be shot entirely in the Boston and New England area and we’re hoping to release it around November of next year, just after the start of the hockey season. One final thing I wanted to mention Ed. The producers of this film have generously committed 10% of their net revenue to the Boston Bruins Foundation. The foundation, supports families and children in the greater Boston area, but also supports cancer research foundations as well. As a matter of fact they recently raised a great deal of money to provide field hockey equipment for the soldiers in Iraq so they can enjoy a little piece of home while defending our country.
Commercial(s) (2 Minutes)
We seem to be up against the clock…time for the
TWO-MINUTE DRILL (4 Minutes)
Coach Ed: Wrap Up of Topic – Once again we’re here with Harvey Avidon, founder of Boston Screen Partners. Harvey, tell us once again how one can reach you in order to take advantage of your unique investment opportunities.
Harvey: We can be reached at area code 781-341-4522 or by visiting our website at www.bostoscreenpartners.com
Coach Ed: Well this has surely been another informative half hour…thanks Harvey and all the very best with your business strategy.
Harvey: Thank you, Coach Ed for permitting me this opportunity to speak with your listeners.
Coach Ed: Harvey has graciously consented to donate to my charity of choice, the V Foundation for Cancer Research. And in the words of the legendary North Carolina State University Basketball Coach Jim Valvano…”Don’t give up, don’t ever give up!”
Coach Ed:
Sign-Off: This is Coach Ed of TOTAL PACKAGE Professional Coaching encouraging
everyone to take a moment or two this weekend, put a great game plan together
then come Monday go ahead and HAVE SOME FUN AND GET IT DONE!
My thanks once again to Jon Marabel, our producer. and of course this evening’s guest Harvey Avidon. And a special shout out to my nephew Ryan Glynn as he enters his Junior year at Boston University.
And as always a reminder to “BE BOTH WHO YOU ARE AND WHAT YOU DO!”