Friday, 2 June, 2017

A: Contingency is a “possible but not very likely future event or condition” - like me marrying Ryan Reynolds! What we mean by Contingency when budgeting for a show is in the unlikely event you need to find some extra money for marketing/ set build/ paying your actors more (!) etc. where do you get that money from. Plenty of producers will create a budget and wack on a percentage increase to cover these unforeseen costs. Others might hide pots of money in the budget where they know they might not spend that amount if/when they get a good deal. One tip from a West End producer to get a good deal on your production hires is “money upfront is a great incentive”, there is nothing stopping you from negotiating  paying your lighting supplier up front for several weeks at a reduced weekly fee. A few don’ts… don’t take money out of your marketing spend, if your marketing is returning your investment –keep investing in it. Don’t tell you Production Manager the true amount in the budget; they know there is always some money held back. Don’t propose to Ryan Reynolds over twitter – but we live and learn right?!