For Love or Money

It took 10 years for this bloke to get money for his film

Last week I had the pleasure of attending the Australian Film Institute’s (AFI) awards.

I was an invited guest of a wealth manager which also sponsored the AFI Award for Best Screenplay. The price was $10,000 and would be awarded to the winner to “help further their story-telling career”.

Incidentally the wealth manager was the only financial services firm among the corporate sponsors.

During light refreshments, I had the pleasure of meeting Keith Richards, the screenwriter of the movie Clubland.

It took him 10 years to raise money for his movie. When he finally did get to make his movie, it took just two-and-a-half weeks since its release to reach $1 million at the box office. This was despite competition from the blockbusters such as Shrek 3 and Harry Potter.

As a finance journo it’s hard to conceive that a fund manager would take that long to raise money for their fund.

Some funds can raise over $150 million from one investor even before they go to market. For many fund managers, $10,000 would just pay for a media dinner (and post drinks).

Yes life can be grand in financial services but Richards still looked happy. I bid him farewell as he joined his fellow writers over meat pies and bubbles.


Journos enjoy the light refreshments