Resuming production after the 2023 WGA strike: Finances & FX

Resuming production after the 2023 WGA strike:

The impact on UK productions

While the WGA strike might seem distant for those in the UK, its ramifications have been felt deeply. Co-productions, international collaborations, and distribution deals faced delays, throwing schedules off track. Projects relying on Hollywood-based writers or international financing were directly impacted.

Resuming production: Key considerations

1. Revised schedules and contracts: It's essential to revisit project timelines and renegotiate contracts to accommodate changes resulting from the strike.
2. Budget adjustments: With time delays come added costs. Production houses need to reevaluate budgets, considering unforeseen expenses and additional time investments.
3. Supply chain hurdles: Expect potential disruptions in the supply chain, especially if any component of your production relies on international partners. Planning and early action will be key.

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Streamlining international payments

Managing international payments can be daunting, especially amidst the post-strike chaos. Choose Equals Money's international payments service to ensure seamless, transparent, and efficient foreign exchange transactions. It offers:

• Competitive rates: Minimise currency exchange losses and lock in rates with payment options such as forward contracts.*
• Fast transactions: Keep pace with demanding production schedules with same-day and next-working-day transfers.
• Dedicated support: With dedicated account management, ensure your queries and concerns are addressed promptly.

Expense management made simple

As productions resume, managing expenses efficiently will be more crucial than ever. This is where Equals Money's prepaid cards come to the rescue:

• Global cashless spending: Remove the security and logistical difficulties of using cash on location with Equals Money cards that can be used in over 190 countries, wherever Mastercard is accepted.
• Multi-currency: Spend on location, no matter where you're shooting with Equals Money cards that can spend across 20 different major currencies
• Track in real-time: Monitor all expenses as they occur, and know exactly what is being spent and where, ensuring transparency.
• Set limits: Allocate specific budgets to different departments, production phases, or locations and set custom spending and transaction limits for each individual card.
• Hassle-free reconciliation: Consolidate all expenses in one place with in-app receipt capture for easy reconciliation at the end of the production.
• Access permissions: Customise access permissions for individual crew members depending on their role and responsibilities.

Conclusion

The aftermath of the 2023 WGA strike demands resilience, flexibility, and smart financial management. As the film and TV industry rebounds, having a reliable financial partner can make all the difference. Equals Money is committed to assisting productions streamline their expenses and navigate international payments, ensuring a smoother transition back into action.