IFH 374: Predatory Film Distributors - The Bankrupt Reboot Scam

IFH 374: Predatory Film Distributors - The Bankrupt Reboot Scam

I've spoken about predatory film distributors before on the show (The Dark Underbelly of Predatory Film Distributors – BEWARE!) but I just discovered how some of these scumbags have figured out how to absolutely screw over filmmakers using a legal loophole. It's called the Bankrupt Reboot Distribution Scam.

Here's how they do it. A predatory film distributor will prey on desperate indie filmmakers and will try to obtain the rights to as many low budget indie films as they can, usually for no money upfront in a short period of time. Let's say 1-2 years, if not faster. During that time they sell-off the rights in one big transaction to a bunch of different platforms, outlets, streaming, foreign agents, etc.

Now here's the rub, rather than actually paying filmmakers what they are owed, the distributor files for bankruptcy protection, which is extremely easy to do in the United States. So you must be asking

"If the distributor goes bankrupt, what happened to the rights of all those films?"

Glad you asked. These bottom dwellers go to the bankruptcy court hearing and then buy back all the rights to the catalog of films from their own bankrupt company. The court has no other choice because that is how the bankruptcy law is written and there's no one else there to buy these assets.

These bastards then form a new company and assign the newly purchased film catalog to themselves through that company. Now they are no longer legally obligated to pay the filmmakers (or anyone else they owe money to). So they own the film you killed yourself to make for pennies on the dollars and they never have to pay you a thing.

This is made possible because of the original contract the filmmaker signed, which has a clause absolving them of that in the event of bankruptcy. Then to add insult to injury when the rights they originally sold off expire, they re-sell them again.

These predators run this scam over and over and over with new companies formed each time. This is an extremely profitable business model. It's not ethical but it is legal.

In this episode, I breakdown a case study of how one of these predatory film distributors pulled this off and I also go over how you can protect yourself. Make sure you take some notes because this episode is a doozy!

Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

Episoder(980)

IFH 400: Film Riot: How to Build a Youtube Empire with Ryan Connolly

IFH 400: Film Riot: How to Build a Youtube Empire with Ryan Connolly

Well, we made it. #400! I couldn't have imagined that when I started this little podcast back in 2015 that we would ever get here. I say "we" because I couldn't have done it with the IFH Tribe's love and support over the years. I am humbled, grateful, and honored to have the privilege to serve you all. Thank you for everything guys.As promised I wanted to make this episode special and today's guest will do just that. We have filmmaker and founder of the legendary Film Riot Ryan Connelly. Ryan launched Film Riot on Youtube back in 2006 and has been helping indie filmmakers create killer VFX for their films ever since.Ryan has shot over 15 short films and has taken his followers on the journey of how he made them. I've been a big fan of Ryan's for a long time and just love what he has created with Film Riot. Hustle respects HUSTLE!We discuss so much in this conversation. From creating Film Riot to when he'll make his first feature film to how our industry will survive the Coronavirus. I just loved having Ryan on the show.Enjoy my EPIC conversation with Ryan Connelly. Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

31 Jul 20201h 35min

MOTIVATION: Blaze Your Own Filmmaking Trail

MOTIVATION: Blaze Your Own Filmmaking Trail

This is your weekly dose of filmmaking motivation. Be well, stay safe and of course, keep on hustling!- Never stop chasing that dream that is burning in your belly.- Your limitation—it's only your imagination.- Push yourself, because no one else is going to do it for you.- Sometimes later becomes never.- Great things never come from comfort zones.- Success doesn't just find you.Share this with a filmmaker that needs to hear it.Proud Member of the IFH Podcast Network (www.ifhpodcastnetwork.com)Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

28 Jul 20202min

IFH 399: The Wrong Kind of Women in Hollywood with Naomi Mcdougall Jones

IFH 399: The Wrong Kind of Women in Hollywood with Naomi Mcdougall Jones

Today on the show we have award-winning filmmaker, actress, author, speaker, women in film activist and force of nature Naomi McDougall Jones. Many of the IFH Tribe might remember Naomi from her first appearance on the show talking about her distribution adventures with her film Bite Me. You can listen to that episode here: Making Money Self Distributing Your Indie Film with Naomi McDougall JonesBite Me, is a subversive romantic comedy about a real-life vampire and the IRS agent who audits her. The film premiered at Cinequest, won Best Feature Film at VTXIFF, and then went on to the innovative, paradigm-shifting Joyful Vampire Tour of America in summer 2019, a 51-screening, 40-city, three-month, RV-fueled eventized tour that involved Joyful Vampire Balls, capes, a docu-series and a whole lot of joy. Naomi's first book, The Wrong Kind of Women: Inside Our Revolution to Dismantle the Gods of Hollywood, is now available wherever books are sold in hardcover, audiobook, and e-book. It debuted as the #1 New Release on Amazon. It is a brutally honest look at the systemic exclusion of women in film—an industry with massive cultural influence—and how, in response, women are making space in cinema for their voices to be heard.Naomi has been a vocal advocate for bringing gender parity to film, both on and off-screen. She has spoken at film festivals and conferences around the world and written extensively on this subject. Naomi's TEDTalk on these issues and what to do about them, "What it's Like to Be a Woman in Hollywood, has been viewed over a million times. Enjoy my eye-opening conversation with Naomi Mcdougall Jones. Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

24 Jul 20201h 20min

Annoucing the IFH Podcast Network for Filmmakers

Annoucing the IFH Podcast Network for Filmmakers

The IFH Podcast Network makes it easy for you to discover, connect, and engage with industry-leading filmmaking and screenwriting podcasts, all in one place. We curate the best podcasts that will help you on your filmmaking and screenwriting journey. You can listen to any of our shows on your favorite podcast platform. #IndieFilmUnitewww.ifhpodcastnetwork.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

23 Jul 20203min

MOTIVATION: Why You Stop Yourself From Making Your Indie Film

MOTIVATION: Why You Stop Yourself From Making Your Indie Film

This is your weekly dose of filmmaking motivation. Be well, stay safe and of course, keep on hustling!- Never stop chasing that dream that is burning in your belly.- Your limitation—it's only your imagination.- Push yourself, because no one else is going to do it for you.- Sometimes later becomes never.- Great things never come from comfort zones.- Success doesn't just find you.Share this with a filmmaker that needs to hear it.Proud Member of the IFH Podcast Network (www.ifhpodcastnetwork.com)Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

23 Jul 202011min

MOTIVATION: How Bad Do You Want Your Filmmaking Dream?

MOTIVATION: How Bad Do You Want Your Filmmaking Dream?

This is your weekly dose of filmmaking motivation. Be well, stay safe and of course, keep on hustling!- Never stop chasing that dream that is burning in your belly.- Your limitation—it's only your imagination.- Push yourself, because no one else is going to do it for you.- Sometimes later becomes never.- Great things never come from comfort zones.- Success doesn't just find you.Share this with a filmmaker that needs to hear it.Proud Member of the IFH Podcast Network (www.ifhpodcastnetwork.com)Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

21 Jul 20203min

NEW PODCAST: The Filmmaking Motivation Podcast with Alex Ferrari

NEW PODCAST: The Filmmaking Motivation Podcast with Alex Ferrari

Welcome to the Filmmaking Motivation Podcast with Alex Ferrari is a podcast dedicated to helping you get off your butt and make it happen for yourself. We all need a push on our filmmaking journey from time to time and this show does just that. Filmmaker and host Alex Ferrari (who also hosts The Indie Film Hustle, Filmtrepreneur, and Bulletproof Screenwriting Podcasts) drops weekly episodes that are part inspirational, part motivational, part raw truth bomb and part kick in the butt. These short motivational episodes will help you kick start your day. Never stop chasing that filmmaking or screenwriting dream. The world needs to hear your voice. It is your responsibility to put it out into the world. Keep on hustling!Proud Member of the IFH Podcast Network (www.ifhpodcastnetwork.com)Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

21 Jul 20204min

IFH 398: Big Budget Visual Effects on a Micro-Budget with Kevin Good

IFH 398: Big Budget Visual Effects on a Micro-Budget with Kevin Good

Today on the show we have low-budget visual effects master Kevin Good. Kevin is a freelance cinematographer, VFX artist, and director. He has worked on diverse projects from creating television pilots for Fox Television Studios to shooting interactive feature-length films for the U.S. Army.His work has been featured in the Independent TV Festival in Los Angeles, the New York Television Festival, the Cannes Film Festival, the Edinburgh International TV Festival, the Festival Internacional de Televisão in Rio de Janeiro, the Boston International Film Festival, and others. Kevin now balances his time between teaching at Boston University’s Center for Digital Imaging Arts, freelance production work, and developing his own crazy projects, many of which are featured on his site.Kevin Good’s debut feature, Dinner with the Alchemist premieres at the Chinese Theatre in Hollywood as part of the Dances With Films festival. Dinner with the Alchemist is a masterclass in low-budget filmmaking and using visual effects to create scale and production value.Enjoy my eye-opening conversation with Kevin Good. Become a supporter of this podcast: https://www.spreaker.com/podcast/indie-film-hustle-a-filmmaking-podcast--2664729/support.

17 Jul 20201h 13min

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