This interview transcript has been summarized into a concise Q&A format for quick reading, capturing the core insights of the LeaderSpeak podcast. The following version explores the intersection of high-level finance and independent film production through the expertise of Kirsty Bell.

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1. Vitrina: Kirsty, could you share the journey of how you transitioned from a career in high-level accountancy and strategic tax into the world of film production and eventually founding Goldfinch?

Kirsty Bell: My transition into the industry happened somewhat by accident about 13 years ago when I decided to make a film in the Northeast of England. Despite a brutal winter and the original producer disappearing, I stepped into the role and realized the independent film industry desperately needed more business structure. I left my role as a partner in a top 10 accountancy firm to disrupt the “show” side of the business with a “business” edge, wanting to put operations in place that could help save the independent sector.

“There needs to be more emphasis on the business side of show business. At that point in time… it was more on the show and less on the business.”

2. Vitrina: How would you describe the Goldfinch “elevator pitch” today, and what is the scale and scope of the company’s track record?

Kirsty Bell: Goldfinch is essentially a creative powerhouse that bridges art, enterprise, and finance. Over 12 years, we have built a track record of deploying over $250 million into more than 300 projects with a 0% default rate in managed structures. Our model involves a “two-speed engine”: a core UK production and finance service, and Goldfinch International, which scales creative economies across the Global South through debt funding, studio hubs, and talent pipelines.

“We’ve been around for 12 years with a track record deploying over 250 million dollars into 300 plus projects with a zero percent default.”

3. Vitrina: From your financial perspective, what are the common mistakes independent producers make regarding budgeting and commercial viability?

Kirsty Bell: Many producers often pick a budget like “5 million” off the top of their head because it sounds standard. I would much rather hear that they haven’t done a budget yet than receive “fudged” numbers. Furthermore, people often make films without identifying their audience or distribution policy first. In our model, even passion projects must have a solid financial basis before they are greenlit.

“If you’re going to build something and you haven’t decided what your audience is or where that distribution policy is going to be, why are you making it in the first place?”

4. Vitrina: How has the financing landscape evolved recently, and what strategies do you use to attract and protect private equity investors?

Kirsty Bell: Traditional financial models are no longer in existence, and financing is fragmenting. To protect investors, we perform deep analysis, discounting projected sales by 60% to show what is truly at risk. We often cross-collateralize investments over a whole slate of projects—like our genre label, Dreamtown—so investors aren’t betting on a single horse. This approach builds confidence by covering a percentage of the capital with tax credits, rebates, or minimum guarantees.

“It’s almost like you’re betting on five different horses in the same race… historically, they’ll break even and one will be an outlier.”

5. Vitrina: You’ve mentioned that film production should be viewed more like manufacturing. How does Goldfinch function as a “factory” for content?

Kirsty Bell: We want to create an ecosystem with security of tenure, moving away from the purely freelance nature of independent film. By having projects at various stages—one in development, one in production, and one in post—we maintain a continuous manufacturing cycle. This “film factory” approach ensures we have people doing the right jobs in the right places, reporting to one another to create a consistent output.

“What we can create, going back to our manufacturing analogy, is we can create a factory. It’s a film factory… It’s got people doing the right job in the right place.”

6. Vitrina: How has the revenue model changed since the pandemic, and how has this impacted the role of sales agents?

Kirsty Bell: It is like night and day; the historical price certainty from streamers has dissipated. Post-COVID, distributors and sales agents have used the market impact to flex their muscle and slash prices. Because pre-sales and minimum guarantees are now harder to find, we have to look at multiple monetization avenues, including gaming, music scores, and brand-integrated storytelling.

“If sales agents didn’t evolve, they would be like dinosaurs and be extinct in six years… the main business model now for distribution does not bear any resemblance to what it did before.”

7. Vitrina: What is your perspective on emerging formats like vertical series and the integration of AI in production?

Kirsty Bell: AI is not going away, so we must harness it to cut costs and increase content volume. I am particularly excited about vertical series because they offer a way to make content for less without denigrating quality. These formats remind me of how authors like Charles Dickens wrote novels piecemeal for newspapers; if the chapters were popular, they wrote more. Vertical series allow for “guerrilla filmmaking” that is capital-efficient and highly engaging for younger audiences.

“Succession, the start of every episode is five or six minutes of the last episode… it’s treating the audience like they need educated… That’s what the vertical series needs to do.”

8. Vitrina: Finally, what does a project need to “hit you” in a way that secures a green light from your investment committee?

Kirsty Bell: We look for a “full package” where red flags are dissipated into green flags. Sometimes it’s about finding “gold in the sand,” like a project I discovered at a writers’ retreat that was written by a novelist rather than a screenwriter. Ultimately, we are looking for great storytelling that is packaged with a team capable of delivering quality for the right price, ensuring we don’t lose money.

“Problems are opportunities and they’re nothing other than that. That’s how I look at life… it’s finding good stories and making them into something that we can all enjoy, but also that we’re not losing money.”

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