Presales finance
Finance secured against distribution agreements in specific territories, where repayment is linked to contracted sales once delivery conditions are met.
Antwerp · Belgium
Understand Commercial Film Finance Before You Invest
Explore how commercial films are financed, how risk is structured, and whether this alternative investment category aligns with your capital strategy.
Based in Antwerp, Belgium. Focused on international commercial film finance.
Film is not one investment type. Presales, tax incentives, gap finance, senior debt and equity each carry different risk, return and recoupment logic.
The investor problem
Most investors misunderstand film finance
Film investment is often treated as either glamour or speculation. In reality, commercial film finance can involve several different structures — each with its own security, repayment path, time horizon and upside potential.
Tax incentive finance
Production cash flow supported by government-backed incentives or rebates, usually linked to qualifying local production spend.
Gap and mezzanine finance
Intermediate finance based on the estimated value of unsold territories, carrying more risk than senior debt but potentially stronger economics.
Equity and upside participation
Capital exposed to the success of the film after senior obligations are repaid, with higher risk and stronger potential upside.
Positioning
Film as an alternative asset class
Film finance can sit alongside other alternative assets, but it should not be judged as one single category. Depending on structure, it may behave more like private credit, receivables finance, project finance or venture-style equity.
| Asset class | Liquidity | Downside protection | Upside potential | Typical horizon | Main risk |
|---|---|---|---|---|---|
| Public equities | High | Low | Medium | Flexible | Market volatility |
| Bonds | Medium | Medium | Limited | Medium | Credit risk |
| Real estate | Low | Medium | Medium | Long | Liquidity risk |
| Private credit | Low | Medium | Medium | Medium | Credit risk |
| Venture capital | Low | Low | High | Long | Execution risk |
| Art & collectibles | Low | Low | Medium | Long | Liquidity risk |
| Film finance | Low | Structure-dependent | Structure-dependent | Short–medium | Delivery & recoupment risk |
Film finance horizons vary by structure. Tax incentive, presales and senior debt structures may be relatively short-term, while equity and upside participation can take longer and depend on recoupment performance.
Investor Assessment
Assess Whether Film Finance Aligns With Your Investment Focus
The Investor Assessment helps investors explore whether commercial film finance aligns with their investment focus, risk appetite, time horizon and portfolio interests.
Start AssessmentThis is an educational assessment, not investment advice. Not a suitability assessment and not an offer to invest.
Structure orientations
01
Defined Repayment Orientation
Focus on clearer repayment logic and senior-style structures.
02
Balanced Structure Orientation
Combination of structured finance and selected upside exposure.
03
Upside Participation Orientation
Greater openness to equity, gap finance and longer-term outcomes.
04
Education First Orientation
Further understanding needed before considering any structure.
Our approach
A disciplined approach to commercial film finance
01
Commercial genre focus
We focus on films with clear audience positioning and international market potential.
02
Experienced production and sales relationships
Projects are evaluated through practical production, sales and distribution realities.
03
Structured recoupment logic
Each opportunity must have a clear repayment path, waterfall and risk profile.
04
Transparency where applicable
Collection accounts, reporting structures and professional oversight are used where appropriate.
05
Selective project-by-project discipline
Not every film should be financed. Selection discipline is central to the model.
Leadership
Led by film finance experience
True Media Capital is led by Daniel Maze, a film producer, advisor and tech entrepreneur with two decades of experience in financing, developing and producing international feature films across the U.S., U.K. and Europe.
Daniel works at the intersection of production, finance, sales, market strategy and practical technology. He helps structure cross-border productions, optimize tax incentives, manage co-production budgets, streamline cash flow and assess how commercial films can be financed, delivered and recouped.
He advises independent production companies and major studios on European production and financing structures, and leads a focused development team shaping commercial films rooted in value-driven storytelling. His long-standing relationships with international sales agents and distributors give him a practical understanding of what the global market buys, how films are packaged, and where investor risk needs to be carefully managed.
TMC was created to give investors a clearer, more disciplined way to understand commercial film finance as an alternative investment category, grounded in real production experience, strategic judgment and pragmatic execution rather than theory.
About Daniel Maze
For broader film advisory and producer strategy, visit DanielMaze.com.
For investors, not general consulting
True Media Capital is focused on investor education, capital strategy and selected film finance opportunities. Broader film advisory, producer strategy and development consulting sit separately under Daniel Maze.
Visit DanielMaze.com for producer advisoryStart with understanding the structure
Before considering any film investment opportunity, understand the financing model, the repayment path, the risks and the upside.
- Capital at risk is acknowledged, not hidden
- Recoupment logic is defined before commitment
- Selection discipline applied to every opportunity