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do you understand what you're approving on your TV
estimate?
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Welcome to 'p3
news'. At the AANA CTVA Television Workshops, sponsored by P3,
we launched our P3TV Benchmark Application on the Internet.
In this edition
of e-news we will explain how the P3TV Online Benchmark
Application will make your television estimates more
transparent and allow you to make more informed decisions on your
television production costs.
p3 - helping people achieve
commercial purpose through creative process
Add a colleague to the 'p3 news' mailing list, by emailing
their details to people@p3.com.au
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is it enough just checking the bottom
line?
Traditional agency
estimate
You get the television production estimate from the agency and it is
just over your budget. Do you ask them to review the costs or do you
sign it off?
In most cases the agency estimate has too little information to make
an informed decision. The details are too few and 60% of the cost is
in the production company price alone.
Typical film company
quote
So you ask for the film company quote to be supplied. Typically it is
extremely detailed and technical with up to 12 pages of prices in
tiny text.
And because it was faxed to the agency who
have faxed it to you, some of the words and figures are unreadable.
Even if you know what you're looking for, each estimate is in its own
format so comparing like-with-like is virtually
impossible.
P3TV's standard
format
The first thing you will notice is the P3TV estimate is
standardised. Something the industry has been trying
to achieve for more than fifteen years. A Summary Page links to the
breakdown pages for Agency Costs, Casting and Talent Fees, Film
Company Costs, Post Production Costs and Audio Costs.
The standard format means you can compare like with
like. More importantly the format requires the agency and
suppliers to provide information on the quantity of resources
required as they enter the data.
Benchmarking the
costs
The other advantage is you can have the costs
compared to standard industry average benchmarks to see how
the individual costs within the estimate compare.
This is done through a report generated on-line that shows you the
cost submitted by the agency, an indicator showing where this cost
sits in regard to the industry benchmark range, and an index measure
between the mid point of the industry benchmark and the cost
submitted to show how far it deviates from the
benchmark.
Investigate the
costs
With the benchmark report you can start to review the key
costs that make up the quote, rather than just looking
mystified at the bottom line.
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| see for yourself |
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If you would like to know more about your television production
estimate than just the bottom line, contact P3 on
03 9378 3223 during business hours or email tv@p3.com.au to organise a
demonstration of the P3TV Online Benchmark
Application. All you need is internet access and you can be
registered today!
Or go to our website http://www.p3tv.com.au/ and click
on "support". There you can download intructional videos on the P3TV
Benchmarking Application for advertisers, their agencies and
production companies. |
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