Regent
Entertainment finances, produces and distributes award winning,
profitable theatrical and television motion pictures. With offices in
Los Angeles, California and Dallas, Texas, the ten-year-old company
produces and/or distributes at least twenty feature films annually. The
company acquires films for distribution and maintains a substantial and
expanding digitized library of over 3,500 titles. Regent has its own
full-service motion picture studio (Regent Studios), international
sales force (Regent Worldwide Sales) and movie theaters (Regent
Theaters).
Mission
Regent's principle mission involves using its position as a premier
producer and distributor of high quality, profitable motion pictures,
to build a valuable library of motion picture copyrights and
distribution rights.
Regent's Gods and Monsters, starring Sir Ian McKellen, Lynn Redgrave
and Brendan Fraser, received three Academy Award nominations and won
the 1999 Academy Award for Best Adapted Screenplay. Other awards
included three Independent Spirit Awards, including Best Feature, Best
Actor and Best Supporting Actress, Best Picture from the National Board
of Review, three Golden Globe nominations, including the award for Best
Supporting Actress, among numerous other international accolades. More
than 100 critics placed Gods and Monsters on their Top Ten lists.
This film, completed for approximately $4 million, competed effectively
for awards against major studio motion pictures budgeted at $50-$100
million. Regent's principals also received two Academy Award
nominations for Tom and Viv, as well as numerous awards for One False
Move and other motion pictures. Regent produced each of these films at
a fraction of a typical studio budget. Regent's ability to manage
expenses and to attract extraordinary talent, even within our
self-imposed budgetary constraints, remains unparalleled in the
industry.
Regent finances its own motion pictures utilizing bank debt and equity
capital, presales and international subsidy programs. Major banks
and institutions consistently seek to finance Regent productions.
Currently, Regent is producing motion pictures in Canada, Hawaii,
California and the Caribbean.
As a substantial provider of television movies, Regent has premiered I
Saw Mommy Kissing Santa Claus, starring Connie Sellecca, Loyal
Opposition, starring Joan Van Ark, Storm Chasers, starring Kelly
McGillis, Britannic, starring Jacqueline Bisset, Paradise Virus,
starring Melody Thomas Scott, Monster Island, starring Carmen
Electra, Tornado Warning, starring Thea Gill, Found, starring Joanna
Cassidy and Snowman's Pass, starring Nicole Eggert. We maintain strong
domestic relationships with ABC, NBC, CBS, Fox, HBO, Showtime, UPN, WB,
USA, Lifetime, Sci-Fi and all other networks. After Regent's Twilight
of the Golds, starring Faye Dunaway, Gary Marshall, Brendan Fraser,
Jennifer Beals and Rosie O'Donnell, premiered on Showtime, it received
two Cable Ace Nominations and a theatrical release.
Regent has television output arrangements in Spain, France, Greece,
Turkey and many long-term customers in other territories. These output
and ongoing sales relationships provide an ascertainable revenue source
and a bankable financing component.
To showcase a mix of specialty/independent and commercial motion
pictures, Regent strategically acquires theaters in the U.S. Meanwhile,
Regent continues to nurture strong working relationships with national
exhibitors for wider release of its films. Regent recently theatrically
released Sordid Lives, Friends and Family, Showboy and The Hunting of
the President. Current releases include Franco Zeferelli's Callas
Forever, starring Fanny Ardant and Jeremy Irons, and Merchant Ivory's
Merci Docteur Rey, starring Dianne Wiest, Jane Birkin and Vanessa
Redgrave.
Regent, a leader in creating cost effective computer generated special
effects, produces digitized entertainment for a variety of venues. Many
Regent motion pictures have numerous digital special effects,
implemented at a fraction of major studio costs.
The Current Market
There exists at this time a cyclical market opportunity to
intelligently invest in motion picture rights. Specifically, a company
with strong distribution capabilities in all markets can acquire motion
picture rights for very reasonable prices. It is important to realize,
however, that the appropriate time horizon for a conservative motion
picture investment is seven to ten years. This permits rotation through
two or three licensing cycles.
In the late 80's many companies financed their motion pictures with
substantial video revenue. In the 90's, video distributors and
retailers no longer needed a plethora of secondary video titles to fill
their shelves. Rather, they placed increased emphasis on blockbuster
studio titles (typically on a revenue sharing basis), thereby excluding
smaller independent titles. Currently, video and DVD have returned as a
consistent source of revenue for Regent, largely because of the failure
of a number of independent companies and resulting shortage of quality
independent product.
Over the last five years, the foreign market has exploded, principally
caused by the privatization and expansion of television. Asian buyers
have returned to the market and Germany plays an increasingly powerful
role in international motion picture finance. Independent distributors
and financiers have relied on the foreign market for the majority of
potential film revenue.
Regent Theaters
Regent Theaters is leasing or purchasing theater locations in a number
of key markets in the U.S. This enables Regent to ensure a meaningful
domestic theatrical release, hold screens for a suitable duration and
obtain strong international reviews. In addition, Regent has excellent
working relationships with national exhibitors for broader distribution
when appropriate. The company utilizes individual motion picture web
pages and Internet marketing as an integral part of its theatrical
releasing strategy. The prospect of a guaranteed U.S. theatrical
release (by virtue of actually owning theaters) gives Regent a powerful
advantage in acquisition and distribution negotiations. It also
significantly enhances ancillary and foreign sale possibilities.
The company’s initial theater acquisition activities have focused on
Los Angeles and Dallas-Fort Worth. These markets afford Regent the
opportunity to effectively utilize its local operating and marketing
expertise.
Regent owns the successful Regent Showcase Theater at LaBrea and
Melrose in the heart of Hollywood, together with ancillary retail
property. Regent leases the prestigious Regent Highland Park Village
Theater in Dallas.
Domestic Television
Regent has domestic television relationships that are unparalleled in
the independent production industry. Regent is a substantial
independent producer of television motion pictures and has strong ties
with ABC, NBC, CBS, Fox, PAX, HBO, Showtime, WB, UPN, USA, Lifetime,
Sci-Fi and all other
major cable and network buyers. This primary source of consistent
domestic revenue requires constant management and intelligence
gathering due to rapid changes in executive personnel, programming
requirements and acquisition attitudes.
Domestic Video
Regent has historically distributed its video rights via a combination
of studio relationships and direct sales to distributors. Regent has
developed a thoughtful strategy based upon aggressive pricing,
consistent flow of quality star-driven or niche specialty product and
effective marketing. Regent has distributed its DVD and video
rights through Fox, Sony, MGM and Image, as well as other major
companies.
Recently, Regent has licensed rights directly to Blockbuster, the
nation's largest video and DVD retailer. Regent's
The Brotherhood series,
Wolves of Wall Street and
A Good Night to Die have been
Blockbuster premieres.
International Sales
Regent Worldwide Sales has strong international sales capability and
its sales estimates are accepted by all entertainment financiers for
gap financing purposes. Often the company enters into output
arrangements in various foreign territories. An output agreement with a
distributor or network provides for the purchase of a specified number
of films at a certain price over a period of time.
The company has successfully taken over projects from outside sales
organizations which have under-performed. The key to this success has
been a combination of aggressive marketing with patient relationship
oriented service.
Regent sells its extensive and diversified motion picture library
directly through its own foreign
sales operations, Regent Worldwide Sales headed by Gene George and
Meggan Kimberley. The company has established television out-put
relationships in France, Italy, Turkey, Greece and Spain with others
under negotiation.
Regent has developed state of the art accounting and
collection systems designed to handle its rapidly increasing
international sales activity. It emphasizes customer service and
nurturing of existing relationships. The management of this explosive
growth will be a challenge and requires constant strategic analysis and
attention to detail.
Increasingly, the company utilizes its corporate web site as an
integral part of the international sales process and information
dissemination. Trailers using state-of-the-art software such as Windows
Media, Quicktime and Real Player are available,
dramatically reducing mailing costs and increasing sales efficiency.
Regent is considered one of the most dependable providers of
international television movies. The company's sales experience and
reliable output relationships demonstrate that international sales will
be a consistent source of revenue. Certain films generate additional
revenue as European content or co-productions. This is a steady and
reasonably predictable business given Regent's manufacturing capability.
Production Capabilities
Regent and its principals have a reputation for producing quality award
winning theatrical motion pictures, including One False Move, Tom and
Viv, Twilight of the Golds, and most recently, Gods and Monsters. These
films are commercial projects with excellent casting, story-line and
production values. They are in strong demand in the international
market particularly with a meaningful U.S. theatrical release
(generally 100 screens or more). Regent has demonstrated an
extraordinary ability to produce films with budgets under $5 million
which compete in terms of quality (storyline, cast and production
values) against $50 to $100 million studio budgeted films. The key to
Regent's success in this area is its reasonably budgeted films with
strong stories able to attract excellent directors and actors, coupled
with significant marketing.
Regent has the efficient capability to produce as many motion pictures
as any major studio, but with a small fraction of the overhead and at
much lower production budgets. Motion picture production is the
ultimate virtual business. Each production may employ several hundred
persons for a brief production period and upon completion, they all go
away. This process is complex, challenging and intensive.
The process begins by reviewing hundreds of script submissions each
month. Most of the scripts come from the major agencies and from
established writers. Some come from television networks and other
studios or producers. Regent’s development staff reads the scripts,
prepares synopses and makes recommendations to senior management. A
script which comes with a strong recommendation from an experienced or
recognized source or has singular talent attached to it, will receive
special attention.
The development staff meets weekly with senior management and the
domestic and international sales executives to review potential
projects with an eye to quality and salability in the market place.
Once a script is selected, it is either optioned or purchased by
Regent. Often scripts need revision to improve their quality and meet
budget or broadcaster requirements. This is an arduous process of
reviewing drafts, preparing detailed notes, discussing these notes with
the writers, then further revisions and drafts, followed by further
notes and discussions. The script is developed to the point that it is
deemed ready for production.
Sometimes Regent will develop a story concept and employ a screenwriter
to prepare a working script. Then the intense note giving and
re-writing process continues until the script is ready.
A line producer will analyze and break down a final script scene by
scene in order to prepare a preliminary budget. This is generally done
for several locations and for different casting and possible variations
in script. Regent carefully reviews and revises budgets to balance
quality and commercial viability.
Once a project is deemed suitable for production, it must be properly
financed. Unlike a major studio which merely draws on its corporate
funds or bank lines of credit, independent motion picture financing is
itself an art, requiring a sophisticated knowledge of debt, equity,
pre-sale contracts, output relationships, governmental subsidies and
various other sources of financing.
Regent finances its motion pictures largely through off-balance sheet
structures. As Regent has risen in stature in the industry, the
availability of alternative financing approaches has increased
dramatically. In addition, Regent is often asked to advise or take over
when projects have financing or production difficulties.
Principal casting can begin once a film is financed, although some of
these activities may go on simultaneously. Regent hires a casting
director for each production, but closely manages this process and
approves all hires. It is challenging to obtain the best talent at
affordable prices, but Regent is particularly adept at this, being
sensitive to talent career objectives, availability and other factors.
At the same time, unless already attached, a director and other
principal production talent are hired and familiarized with the
project, as pre-production commences. A variety of important tasks are
preformed at this time including final location scouting and selection,
hiring of the crew and scheduling of principal photography, building of
sets, acquisition of costumes and props, final budgeting and
establishment of a definitive business plan for the production. Regent
emphasizes the pre-production period because careful planning at this
stage will reduce costs and avoid problems during principal photography.
Principal photography on a Regent film is expertly managed and
generally takes four weeks, a fraction of major studio time
lines. This is the most expensive aspect of motion picture production
and careful management is important. Regent’s principals are
experienced in the delicate give and take of this process. Management
trouble shoots problems and takes required action while being sensitive
to the creative prerogatives of the director and the cast.
Upon completion of principal photography, editing is completed and
music and special effects are added. The motion picture is meticulously
and gradually brought to its completion. Increasingly, digitized
special effects and processes are utilized to enhance motion picture
quality and control costs. Then the elements necessary for physical and
electronic delivery to domestic and international buyers are created.
Conclusion
Regent Entertainment is a unique motion picture company, capable of
award winning creativity and run by level headed businessmen who have
experience and perspective. The company’s multi-faceted, fully
integrated
approach to the entertainment business is a “closed loop” solution,
comprised of creation, development, production and distribution, both
on and off line.
Regent’s principal mission is to capitalize on its position as a
premier producer and distributor of high quality and profitable motion
pictures in order to build a valuable library of motion picture
copyrights and distribution rights combined with strong international
distribution in all markets.