Rachel McClelland, the founder of upcoming film funding event Mythos Manchester, as well as the film funding network House of Dogstar, has been talking to the This is Mediacity podcast, and despite the gloom hanging over the production sector (along with many other sectors) recently, she had some good news for cash-strapped creatives: There is funding out there if you look for it.
“The creative sector is growing at four times faster than national average, so faster than life sciences and manufacturing, you know? It’s eight times bigger than Defence, she explained. “I’m kind of like, ‘make films, not bombs,’ but there’s loads of opportunity, and [VCs and PE firms] want to understand the sector because they know there’s opportunity.”
It’s with this in mind that McClelland has launched Mythos Manchester – an event that hopes to bridge the gap between funders and creatives, and hopes to help each set of people understand the other’s world a little more in the process: “It’s not just about helping creatives understand investment and connect to the right people, it’s about helping investors understand the creative world, you know, and understand where the opportunities are, and the growth, and how, how things can scale, you know. So it’s completely a two-way street,” said the experienced producer, who is a former head of production at Head Gear Films and served as Michael Winterbottom’s right hand woman on 24 Hour Party People.
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McClelland admits that she’s not always been the greatest business brain herself, but that that is slowly changing, and that unlike the ability to create great movies, these are skills that “can be learned.”
“I was reading something recently, and it, and it is about finding the right pots of money, so for example, pension companies obviously, in terms of return on investment, it’s a much longer period of time,” she said. “For a film slate that might kind of take years to get off the ground, and then in terms of selling different films around the world, or to different types of buyers, that whole process, it’s not a quick win, you know. So it’s about being aligned with the right types of investors, so I’m really interested in the world of pensions, so glamorous.”
Brands are another avenue which McClelland has found herself exploring in recent years, although she’s no advocate of churning out 90-minute ads through brand placement deals: “[The brand] might not get one product in any of those 90 minutes or this TV series, or whatever. However, it’s more about creating, well, defining cultural moments and having them there forever,” she says. “Also, if a brand puts equity into a film, they’re an investor in the film, so if you do well, if the film can be sold around the world and make money, the brand makes money as well. So way better than traditional advertising, which we all scroll through these days.”
You can hear more of McClelland’s thoughts on funding, why Trainspotting was great, and the inspiration provided by dearly departed pets by listening to the full podcast. Mythos Manchester takes place on June 11th, with confirmed partners including Head Gear Films, MPA, UK Private Capital, Beautiful Productions, Manchester Film Festival and LS Productions and speakers including Manchester Mayor Andy Burnham, GMC CEO Caroline Simpson, former Lionsgate VP Noel Hedges and Head Gear Films co-MD Phil Hunt.
