Financing “Precious”

“Precious,” the critically acclaimed 2009 film based on the novel “Push” by Sapphire, wasn’t a typical Hollywood blockbuster. Its funding came from a diverse array of sources, reflecting its independent spirit and powerful subject matter. Understanding who backed this film sheds light on the independent film landscape and the process of bringing challenging stories to the screen.

Key financial backing for “Precious” came from independent film production companies. Lee Daniels Entertainment, the production company of the film’s director, Lee Daniels, played a pivotal role in securing funding and overseeing the project. Daniels’ passion for the story and his established reputation were crucial in attracting investors. Another significant player was Smokewood Entertainment Group, which focuses on investing in independent films with strong social impact.

Beyond production companies, individual investors and private equity also contributed to the film’s budget. These individuals were drawn to the film’s powerful narrative and its potential to spark social dialogue. Specific names are often kept private in independent film financing, but their willingness to take a chance on a potentially controversial film was essential. Grants and funding from film foundations also played a crucial role.

Oprah Winfrey’s involvement significantly elevated the film’s profile and likely attracted additional financial support. Oprah Winfrey and Tyler Perry lent their names as executive producers. While their specific financial contributions weren’t publicly detailed, their association with the project undoubtedly increased its visibility and appeal to distributors and audiences alike. Their endorsement signaled to potential investors and distributors that “Precious” was a project worth considering, despite its challenging themes.

The film’s distribution was handled by Lionsgate, which acquired the rights after its successful premiere at the Sundance Film Festival. Lionsgate’s backing provided the film with a wider release and marketing support, crucial for reaching a larger audience. While Lionsgate came on board after the initial financing was secured, their distribution deal represented a significant return on investment for the initial backers and enabled the film to achieve broader impact.

In conclusion, the financing of “Precious” was a collaborative effort, drawing on a mix of independent film companies, private investors, celebrity endorsements, and eventual distribution deals. This diverse financial structure is typical of many independent films, highlighting the creativity and resourcefulness required to bring important, often overlooked, stories to the big screen.