Today, we learned about how to budget for a documentary series, and take a look into how the tariff prices from TV networks are calculated. I had never had a great knowledge of budgeting from my HND years, so this lesson proved very useful to me.
We started by looking into all the different aspects that needed to be considered for a budget, including the crew, kit hire, location hire, permissions and copyright clearances. The budget sure seems to add up. This was also the first time that I had been aware of how tariff prices for programming worked, so it was interesting to see how much more expensive a drama usually costs compared to a documentary; and how much even the prices within documentaries can differ depending on the subject.
The rest of the day went into doing further research for our pitching sessions and now, with the knowledge of how to do a budget, I could look further into where my programme would sit on a TV schedule and how to calculate how much money I would potentially have to spend on it.
Budgeting is always going to play its part in the industry, so the knowledge I have taken away with me today will be used nearly every day when working in television.
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